625 -627 S Wabash Avenue, Glendora, CA 91740

Property Description

625 & 627 S. Wabash is a 16-unit apartment complex situated on two lots totaling four parcels in Glendora. The property consists of two separate 8-unit, two-story walk-up buildings constructed in 1959, with slab foundations and rolled composition roofs (including carports). The buildings total 10,453 with the property lot size consisting of 20,978 SF. There are 16 two-bedroom / one-bath units featuring gas wall heaters and wall A/C, with select interior upgrades including newer kitchen cabinets, granite countertops, gas stoves/ovens, vinyl plank flooring, and updated bathrooms with newer vanities and sliding tub/shower doors. Flooring varies by unit and includes carpet, vinyl plank, oak parquet, ceramic tile, or sheet vinyl. Utilities are individually metered for gas and electric, while ownership covers hot water, water/sewer, and trash. Each building is served by its own 100-gallon hot water heater (625's was replaced in 2016; 627's was replaced in 2021). Electrical sub-panels were replaced around 2016, and plumbing upgrades include replaced hot water lines and selective unit re-pipes using copper or PEX. The property offers 28 parking spaces (15 carports and 13 open), no soft-story requirements, and two common laundry rooms (one per building) with owner-owned washers and dryers. Major capital improvements include new building roofs installed in March 2022 and carport roofs replaced in 2016. PROPERTY HIGHLIGHTS: *Prime Glendora Location. *Seller Carried financing 5 years, 5.5% interest only with $1.9 mil down payment. *The property is subject to California AB 1482 statewide rent control; no local rent control applies in Glendora.