6343-6359 Rosemead Boulevard

    San Gabriel, CA 91775
    • $16,500,000
    • STATUS: Active
    • ON SITE: 192 days
    • ID#: AR19074403
    UPDATED: 75 min ago
    $16,500,000
    • 0
      BEDS
    • 1.9
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 61,700
      SQFT
    • $267
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1965
    County:

    School Ratings & Info

    Description

    We are proud to offer Golden Motel, a 184-room motel 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 current vacancy is +-56% and current expenses are 70% from Effective Gross Income. 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. The property has 2 elevator shafts that have not been utilized for a long time. Each unit has an average size of +-290 sqft to +-340 sqft (buyer to verify) with small kitchenette area, closet area, and full bathroom. Each unit has a wall A/C & heating unit, carpet flooring, popcorn ceiling, laminate kitchenette countertop, refrigerator, and microwave.

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    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/93329937

    6343-6359 Rosemead Boulevard San Gabriel, CA 91775

    • Price: $16,500,000
    • Status: Active
    • Updated: 75 min ago
    • ID#: AR19074403
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.9
    Acres
    61,700
    SQFT
    $267
    $/SQFT
    1965
    Built
    Neighborhood:
    654 - San Gabriel
    County:
    Los Angeles
    Area:
    654 - San Gabriel
    Property Description
    We are proud to offer Golden Motel, a 184-room motel 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 current vacancy is +-56% and current expenses are 70% from Effective Gross Income. 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. The property has 2 elevator shafts that have not been utilized for a long time. Each unit has an average size of +-290 sqft to +-340 sqft (buyer to verify) with small kitchenette area, closet area, and full bathroom. Each unit has a wall A/C & heating unit, carpet flooring, popcorn ceiling, laminate kitchenette countertop, refrigerator, and microwave.
    Exterior Features

    Lot Features 0-1 Unit/Acre2-5 Units/AcreLot Over 40000 SqftSprinkler System Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Laundry Features Common AreaCommunity

    Property Features

    Accounting Type Proforma Additional Parcels YN No Asset Class Hotel/Motel Building Area Units Square Feet Building Name Golden Motel Building Status Existing Business Type HospitalityHotel/Motel Country Us Land Lease YN No Land Use Other Laundry YN Yes Lease Considered YN No Max Total Area Units Square Feet Min Total Area Units Square Feet Property Sub Type Hotel/Motel Special Listing Conditions Standard Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Water Source Public

    Listing provided courtesy of Katie Yau of Your Home Sold Guaranteed Realty


    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.
     
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