232 E Foothill Boulevard

Description

We are proud to present 232 E Foothill Boulevard, a charming 10-unit multifamily building located in the distinguished Hills of Glendora – one of only 37 multifamily assets north of Foothill Blvd. The city of Glendora is located in the east San Gabriel Valley off of the 210 and 57 Freeways neighboring other affluent neighborhoods like the cities of La Verne and San Dimas. Tenants enjoy being a short distance away from notable venues and locations like the Dodger Stadium in LA, Santa Anita Racetrack and several malls in the West San Gabriel Valley, Victoria Gardens in Rancho Cucamonga, Top Golf and Ontario Airport in the City of Ontario, and much more. Local educational grounds include Glendora High School, Azusa Pacific University, Citrus Community College, and several grade school options. The property itself has an incredible location with a favorable walk-score being just steps away from ample retail amenities in Downtown Glendora. Also, within a short 5-minute drive from the property are big name retailers like Target, Walmart, Home Depot, Trader Joes, Sprouts, Costco, Sam’s Club, LA Fitness, 24-Hour Fitness, In-N-Out, Chick-Fil-A, and a variety of other boutique retailers. 232 E Foothill Blvd is a 10-unit multifamily property offering ±7,550 SF of rentable building area spanning across a generous ±25,000 SF lot. The property consists of 6, 1-Bedroom/1-Bathroom, 2 – 2-Bedroom/ 1-Bathroom, and 2, 2-Bedroom/2-Bathroom units averaging 650, 900, and 950 SF, respectively. Currently, the property is producing over $251,700 in annual gross income – boasting an above-market CAP rate of 4.78%. With similar apartments in the area renting for an average rate of $2,350 per month, a new investor has the opportunity to still capitalize on approximately 15% upside in rents. Additional revenue can be captured via the on-site laundry facility, nine single-car garages, and at least nine uncovered parking spaces. A savvy investor may recognize the opportunity to capture additional revenue via ADU possibilities and via operational upside by implementing RUBS. 232 E Foothill Boulevard is a promising income-producing property that offers a compelling long-term investment opportunity. Situated in a highly sought-after neighborhood, this property presents a stable investment option for a wide range of investors, including first-time buyers, experienced professionals, and those seeking 1031 exchange benefits.

Listing information courtesy of: ERIC CHEN, CB RICHARD ELLIS 909-418-2071. *Based on information from the Association of REALTORS/Multiple Listing as of 02/12/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.