6343-6353 Rosemead Boulevard

    San Gabriel, CA 91775
    • $16,500,000
    • STATUS: Active
    • ON SITE: 93 days
    • ID#: AR19163648
    UPDATED: 72 min ago
    $16,500,000
    • 0
      BEDS
    • 1.96
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 61,701
      SQFT
    • $267
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1967
    County:

    School Ratings & Info

    Description

    Golden Motel, a 184-room motel (21 units are being run as apartment - grandfathered in by the county) investment opportunity located in the City of San Gabriel, CA (unincorporated area of Los Angeles County). This offering provides a rare opportunity for investors to acquire a well-located motel with tremendous repositioning potential through corrective management to reduce current expenses. The property has been with the same ownership for more than 20 years. The property is located on Rosemead Blvd and is surrounded by single family residential communities, neighborhood shopping centers, and other residential community amenities. The property is a three-story garden style property that was built in 1967. It has an estimated size of +-61,701 SF and situated on a +-1.9acres lot. It is zoned C2 (Neighborhood Commercial) which allows multiple uses and require CUP for its current operation as a motel. It has a lobby area with secured receptionist area and a private office. It provides a center courtyard with lush landscaping and fenced swimming pool. Each unit has an average size of +-290 sqft to +-340 sqft (buyer to verify) with small kitchenette area, closet area, and full bathroom. The property has a total of 104 open parking spaces (4 are for disabled parking). Most of the units have not been upgraded which provides excellent repositioning opportunity to investors. Confidentiality Agreement is required to get full marketing setup.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-13T18:32:22.56. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Masters. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/96796770

    6343-6353 Rosemead Boulevard San Gabriel, CA 91775

    • Price: $16,500,000
    • Status: Active
    • Updated: 72 min ago
    • ID#: AR19163648
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.96
    Acres
    61,701
    SQFT
    $267
    $/SQFT
    1967
    Built
    Neighborhood:
    654 - San Gabriel
    County:
    Los Angeles
    Area:
    654 - San Gabriel
    Property Description
    Golden Motel, a 184-room motel (21 units are being run as apartment - grandfathered in by the county) investment opportunity located in the City of San Gabriel, CA (unincorporated area of Los Angeles County). This offering provides a rare opportunity for investors to acquire a well-located motel with tremendous repositioning potential through corrective management to reduce current expenses. The property has been with the same ownership for more than 20 years. The property is located on Rosemead Blvd and is surrounded by single family residential communities, neighborhood shopping centers, and other residential community amenities. The property is a three-story garden style property that was built in 1967. It has an estimated size of +-61,701 SF and situated on a +-1.9acres lot. It is zoned C2 (Neighborhood Commercial) which allows multiple uses and require CUP for its current operation as a motel. It has a lobby area with secured receptionist area and a private office. It provides a center courtyard with lush landscaping and fenced swimming pool. Each unit has an average size of +-290 sqft to +-340 sqft (buyer to verify) with small kitchenette area, closet area, and full bathroom. The property has a total of 104 open parking spaces (4 are for disabled parking). Most of the units have not been upgraded which provides excellent repositioning opportunity to investors. Confidentiality Agreement is required to get full marketing setup.
    Exterior Features

    Carport Spaces 0.00 Garage Spaces 0.00 Lot Features 36-40 Units/AcreLot Over 40000 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Features DrivewayAsphalt Parking Total 104.00 Parking YN Yes Pool Features Community Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Common AreaCommunity Levels Three Or More

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features SuburbanValley Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Operating Income 0.00 Gross Scheduled Income 0.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 0.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Wall AC 184 Number With Dishwasher 0 Number With Disposal 0 Number With Range 0 Number With Refrigerator 184 Operating Expense 0.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays None Total Expenses 0.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lcr3vv

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-13T18:32:22.56. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Masters. Licensed in the State of California, USA.
     
    RE/MAX Masters
    475 E. Badillo Street
    Covina CA, 91723