5109 Tyler AVE new Save Request In-Person Tour Request Virtual Tour
Temple City,CA 91780
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25025233
Year Built 1947
Lot Size 0.342 Acres
Property Description
We are proud to present 5109 Tyler Avenue, a 12-unit multifamily asset located in Temple City, CA offered for sale for the first time in over 37 years – a prime San Gabriel Valley location.
5109 Tyler Avenue in the city of Temple City is bordered by other affluent neighborhoods like Arcadia, San Marino, Alhambra, and Monrovia. The property is located just west of the 605-fwy and centered between interstates 10 and 210. Locally, the property is near several big box retailers like Albertsons, Sam's Club, Vons, Dollar Tree, Home Depot, Chuze Fitness and more. Tenants enjoy convenient access to nearby restaurants like In-N-Out, Subway, Cabrera's Mexican Restaurant, Starbucks and many other amenities found along Live Oak Ave. The property is also within a short 10-minute drive to Santa Anita Mall and a heavy retail corridor on Rosemead Blvd. Several schools and parks are also just blocks away from the property.
5109 Tyler Avenue offers over ±8,300 SF of rentable building area and sits on a ±15,000 SF lot. The property offers an exceptional unit mix with 4, 1-Bedroom/1-Bathroom, 7, 2-Bedroom/1-Bathroom, and 1 – 2-Bedroom/2- Bathroom units, averaging 700 SF. Currently the units average a monthly rent of ±$1,505 contributing to an annual rental income of ±$216,684. Similar apartments in the immediate surrounding neighborhood average over $2,000 per month, allowing a savvy investor the opportunity to capture ±40% upside in rental income. The in-place income offers a 4.33% CAP Rate and 14.68 GRM at the offered price. Since Temple City allows for higher allowable rent increases through AB 1482, the next owner can potentially achieve a 6.48% CAP Rate and 11.02 GRM with established market rents. Additional revenue stems from the property's on-site laundry facility. Moreover, each tenant enjoys parking via 12 carport parking spaces.
The opportunity to purchase 5109 Tyler Avenue presents an excellent opportunity for both the first-time multifamily investor and seasoned investor looking to satisfy their 1031 exchange.
Location
State CA
County Los Angeles
Area 661 - Temple City
Zoning LCC3*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Laundry Common Area
Exterior
Pool None
Community Features Curbs,Sidewalks
Building
Lot Description 11-15 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard