1349 Elm Avenue, San Gabriel, California 91775, San Gabriel, 91775 - bed, bath

1349 Elm Avenue, San Gabriel, California 91775 home-pic-0
ACTIVE$6,900,000
1349 Elm Avenue, San Gabriel, California 91775
0Bed
0Bath
15,384Sqft
18,367Lot
Year Built
1988
Close
-
List price
$6.9M
Original List price
$6.9M
Price/Sqft
$449
HOA
-
Days on market
-
Sold On
-
MLS number
PF25253031
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros.

Discover a rare opportunity to acquire a pride-of-ownership 14-unit apartment building in the highly desirable city of San Gabriel! On the market for the first time in 26 years, this gated and well-maintained property offers approximately 15,384 SF of rentable space on an 18,362 SF R3-zoned lot with 80 ft of street frontage. The unit mix includes spacious 3BR/2BA and 2BR/2BA floor plans, complemented by manicured front and back yards. Each unit features central A/C and heating, individual water heaters, separate gas and electric meters, two dedicated covered parking spaces, and access to an on-site laundry facility. Conveniently located near the high-traffic intersection of Rosemead Blvd and Las Tunas —at the prime Temple City corner—the property is surrounded by retail destinations including Camellia Square, GW Supermarket, Chuze Fitness, Elm Shopping Center and newly built luxury apartment developments. Most units are currently occupied, generating immediate income with strong rent upside potential. Whether you're expanding your portfolio or seeking a long-term investment in a growth market, this San Gabriel multifamily opportunity delivers both performance and potential.

Price History

Date
Event
Price
11/03/25
Listing
$6,900,000
06/25/99
Sold
$1,230,000
Condition Rating
Good

Built in 1988, the property's age would typically place it in the 'Fair' category. However, the visible interior images, particularly the kitchen, show significant updates including modern white cabinetry, stainless steel appliances, new countertops, and contemporary laminate flooring. These renovations appear to have been completed within the last 5-15 years, making the units move-in ready with no immediate renovation required. The description also notes central A/C and heating, individual water heaters, and separate meters, indicating well-maintained and functional major systems. While no bathroom images are provided, the overall impression from the updated kitchen and flooring suggests a well-cared-for property that meets the 'Good' condition criteria.
Pros & Cons

Pros

Prime Location & High Visibility: Situated in a highly desirable San Gabriel location near a high-traffic intersection, surrounded by retail destinations, ensuring strong tenant demand and accessibility.
Strong Income & Value-Add Potential: Currently generating immediate income with significant rent upside potential, especially given it's the first time on the market in 26 years, suggesting below-market rents.
Well-Maintained & Gated Community: The property is described as gated and well-maintained, indicating good stewardship and potentially lower immediate repair costs for a new owner.
Desirable Unit Mix & Tenant Amenities: Offers spacious 2BR/2BA and 3BR/2BA units, each with central A/C, individual meters, covered parking, and on-site laundry, appealing to a broad tenant base.
Large R3-Zoned Lot: An 18,362 SF R3-zoned lot provides potential for future density increases or redevelopment, adding long-term value beyond current income.

Cons

Property Age & Capital Expenditure Risk: Built in 1988, the property's age suggests that major systems (e.g., roof, plumbing, electrical) may be nearing the end of their useful life, potentially requiring significant capital expenditures in the future.
Competition from New Developments: The presence of 'newly built luxury apartment developments' in the vicinity could create competitive pressure, necessitating strategic upgrades or competitive pricing to attract and retain tenants.
Unspecified Occupancy Rate & Renovation Status: While 'most units are occupied,' the exact occupancy rate is not provided, and the description doesn't detail recent unit renovations, implying a new owner may need to invest in upgrades to fully realize rent upside.

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