Mixed-Use

Royal Palms Apartments and Professional Building

Listing Price: $12,200,000

Cap Rate
4.38%
Number of Units
76
Price/Unit
$160,526
Price/Gross SF
$280.55
Gross SF
43,486

Investment Overview

Marcus & Millichap is proud to exclusively present the opportunity to acquire Royal Palms Apartments and Professional Building, a mixed-use investment opportunity comprised of 48 apartment units and 28 commercial suites. Located on Route 66 in the desirable city of Glendora, California, Royal Palms was built in 1962 and sits on a 1.45 acre site and has a combined building size of approximately 43,486 square feet.

Royal Palms Apartments is comprised of two-2 story buildings and consists of twenty four-studio/one bathroom units of approximately 420 square feet, twenty three-one bedroom/one bathroom units of approximately 630 square feet and one-two bedroom/one bathroom unit of approximately 700 square feet. Approximately 50% of the apartments have been updated to feature laminate plank flooring, formica countertops and ceiling fans. The studio/one bathroom floorplans feature walk-in closets and are equipped with a gas stove/oven and a refrigerator. The one bedroom/one bathroom floorplans are spacious and feature his and her closets with a center vanity and are equipped with a gas stove/oven. The property features a secured entrance, 42 tuck-under parking spaces with storage units, two laundry rooms, four central water heaters and a swimming pool. The buildings have had recent improvements to include two new roofs in 2019, exterior unit doors, a re-plastered swimming pool and pump.

Investment Highlights

  • Historic Route 66 - High Barrier to Entry
  • Same Family Ownership Over 30 Years
  • Over 20% Rental Upside

Exclusively Listed By

Mixed-Use

Royal Palms Apartments and Professional Building

Listing Price: $12,200,000

Cap Rate
4.38%
Number of Units
76
Price/Unit
$160,526
Price/Gross SF
$280.55
Gross SF
43,486

Investment Highlights

  • Historic Route 66 - High Barrier to Entry
  • Same Family Ownership Over 30 Years
  • Over 20% Rental Upside

Investment Overview

Marcus & Millichap is proud to exclusively present the opportunity to acquire Royal Palms Apartments and Professional Building, a mixed-use investment opportunity comprised of 48 apartment units and 28 commercial suites. Located on Route 66 in the desirable city of Glendora, California, Royal Palms was built in 1962 and sits on a 1.45 acre site and has a combined building size of approximately 43,486 square feet.

Royal Palms Apartments is comprised of two-2 story buildings and consists of twenty four-studio/one bathroom units of approximately 420 square feet, twenty three-one bedroom/one bathroom units of approximately 630 square feet and one-two bedroom/one bathroom unit of approximately 700 square feet. Approximately 50% of the apartments have been updated to feature laminate plank flooring, formica countertops and ceiling fans. The studio/one bathroom floorplans feature walk-in closets and are equipped with a gas stove/oven and a refrigerator. The one bedroom/one bathroom floorplans are spacious and feature his and her closets with a center vanity and are equipped with a gas stove/oven. The property features a secured entrance, 42 tuck-under parking spaces with storage units, two laundry rooms, four central water heaters and a swimming pool. The buildings have had recent improvements to include two new roofs in 2019, exterior unit doors, a re-plastered swimming pool and pump.

Exclusively Listed By

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