Investment Highlights
- Extremely rare 39-unit Turnkey community in west San Gabriel Valley Submarket
- NO Local rent control ordinance, offering a healthy 10% (or 5% + CPI) annual rent increase under CA AB1482 (buyer to verify)
- Strategically located in an extremely strong commercial area right off VALLEY BLVD, one the main retail corridors and major thoroughfares in San Gabriel Valley
- More than ±$720 million in projects are under discussion or development in the immediate area, especially along Valley Blvd
- Access to LA County’s large employment centers: Pasadena, Glendale, Burbank, DTLA, Hollywood, North Orange County, Western Inland Empire
- Close access to 10, 605, 60 Freeways, about 12 miles away from Downtown Los Angeles
Property Highlights
- Excellent community amenities: brand new leasing office, brand new fitness center/gym, community wall garden, gated swimming pool with brand new wood fence, barbeque area, secured entrance, new mailboxes, new security camera systems installed, gated parking, covered parking, and many others
- Fully upgraded community with 39-unit Turnkey apartment with excellent curb appeal
- Situated on an oversized 1.08acre R3 Lot
- Excellent curb appeal with new façade + new landscaping + new exterior color paint scheme
- Excellent location in El Monte bordering Temple City and Arcadia on its north + Rosemead and San Gabriel on its west
- Excellent community amenities with gym, swimming pool, leasing office, gated parking, secured entrance, and other desirable amenities
- Excellent unit mix with ±48% are large 2bedroom units; Average unit size is large ±821SF (buyer to verify)
- Expansive lot of more than an acre R3 – high density zoning
- All units have been upgraded with Unit Amenities: AC in Living and Bedroom, Updated Countertops, Stainless Steel Appliances in some units, Luxury Vinyl Plank Flooring, Updated Electrical Panels, Updated Cabinet & Drawer Fronts, Updated Lighting & Plumbing Fixtures
- Gated parking, covered parking with no tuck-under parking (no soft-story parking retrofit is required)
EXECUTIVE SUMMARY
Growth Investment Group California is proud to present The Atrium, 3733 Gibson Road, El Monte. With 39-Turnkey units, this investment offering provides a rare opportunity for investors to acquire a stable and cash-flowing asset in one of the core cities of West San Gabriel Valley submarket. The city does not have any Local Rent Control ordinance, providing a healthy annual rent increase up to 10% or 5%+CPI (per California AB1482). Situated strategically right off the famed Valley Boulevard, this community provides excellent location amenities with proximity to many major local and regional shopping centers, restaurants, parks, and public transportation. Bordered by Temple City and Arcadia on its north, San Gabriel and Rosemead on its east, this location provides superb access to most of San Gabriel Valley well-known amenities such as The Shops at Santa Anita in Arcadia, Temple City downtown, Valley Boulevard retail corridor that goes all the way to Alhambra. The turnkey factor presents cash-flow opportunity to investors without having to do any rehab work.
The Atrium is a two-story garden style community that was built in 1963 with an excellent curb appeal and has been completely renovated from top to bottom. It has a secure entrance with intercom system and a large atrium area that leads to a center courtyard. It offers excellent community amenities with brand new leasing office, brand new fitness center, brand new façade, brand new landscaping throughout, new exterior paint, new roof, new mailboxes, new security camera system installed, new wood-fence for pool area, new barbeque area, and many other significant upgrades. It is situated on an oversized ±1.08-acre R3 lot. It has a total building size of ±32,043 square feet which translates to a large ±821 SF average unit size (buyer to verify).
It offers an excellent unit mix of 19 large two-bedroom/one-bathroom and 20 large one-bedroom/one-bathroom units and units. Each unit has been meticulously upgraded with high end upgrades and offers excellent unit amenities such as: brand new kitchen and kitchen cabinets with quartz countertops, stainless steel appliances (refrigerator, gas range, dishwasher), brand new bathroom with new vanity, new flooring throughout, brand new electrical subpanel in each unit, new paint color scheme for entry door, new double pane windows throughout, new ceiling fans in bedroom and living room, new windows a/c unit in living room, new windows coverings, and many others.
The property is separately metered for gas and electricity and serviced by central water heaters. There is a large community laundry area with several washers and dryers. Community has a gated parking and has a total of 39 parking spaces with 18 covered carport spaces and 21 open parking spaces. There is no tuck-under parking in this community which means that there is NO parking soft-story requirement.
LOCATION, AMENITIES, AND ACCESS
The property is located on a Gibson Road, a small side street right off Valley Blvd, a major retail corridor in west San Gabriel Valley area. This location gives it proximity to many multi-million-dollar new developments such as the Magellan Gateway (±501,000 SF business parks development on Temple City Blvd), Holiday Inn – a ±133 room hotel that was recently completed, El Monte Gateway Project (a development project consisting of ±485 units of housing and ±25,000 square feet of retail), and many more. The property is also close to the San Gabriel Airport, Longo Toyota, alongside numerous other commercial and retail businesses supporting a growing workforce in the area.
El Monte is an increasingly desirable city in the San Gabriel Valley, an area that is experiencing rapid growth and redevelopment because of its excellent location and proximity to Downtown Los Angeles. El Monte, in particular, has an excellent location for commuters because of the El Monte Busway, The Metro link, and easy access to the 10 FWY, 605 FWY, and 60 FWY; making almost every Southland location easily accessible from this location, from the San Gabriel Valley to Downtown Los Angeles, and the Westside.