Listed by DOUGLAS MCCAULEY, MARCUS & MILLICHAP,

618 W Route 66

Glendora, CA, 91740

$14,250,000

$329 per ft²
$14,250,000
$329 per ft²
Sold
Sold
carpenters-square
43,292 ft²
property_type
Multi-family
calendar
Built 1962
We are 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 the famous Route 66 in the 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 43,292 square feet. Royal Palms Apartments is comprised of two-2 story buildings and consists of twenty four-studio/one bathroom units, twenty three-one bedroom/one bathroom units and one-two bedroom/one bathroom unit. Approximately 50% of the apartments have been updated to feature laminate plank flooring, formica countertops and ceiling fans. The studio/one bathroom floor plans feature walk-in closets and are equipped with a gas stove/oven and a refrigerator. The one bedroom/one bathroom floor plans are spacious and feature his and her closets with a center vanity and are equipped with a gas stove/oven. The property offers various amenities including a secured entrance, 42 tuck-under parking spaces with storage units, two on-site laundry facilities, four central water heaters, bike rack and a gated swimming pool. The buildings have had recent improvements to include seismic retrofit, two new roofs in 2019, new landscaping, re-plastered swimming pool and pump and new exterior doors. Royal Palms Professional Building is a two-story building that consists of 28 office/retail suites (8 retail suites ground level and 20 office suites 2nd story) ranging from 293 square feet to 1,180 square feet and features 38 surface parking spaces. The property is situated with 225 feet of street frontage on Route 66 with 2 curb cut outs and a traffic count of 20,574 vehicles per day. The building also features central air conditioning and heat, four common area restrooms, new lighting and was re-roofed in 2017. Additional improvements include seismic retrofit, new exterior lighting and freshly painted exterior and interior. Another possible revenue source for the office spaces could include creating virtual offices for individuals who simply require a mailing address.
MLS® ID:
CV22081529
Listed:
4/20/22
Updated:
8/10/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area

Exterior/Building Features

Lot Size
1.45 acres lot
Lot Details
Over 40 Units/Acre
Sewer
Public Sewer

Other Property Details

Area Name
629 - Glendora
HOA Amenities
Sidewalks, Pool
Garage
No
Parking
N
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
Community

Property History

Date
Event
Price
Value
7/26/22
Sold
-
-
7/26/22
Price Change
$14,250,000
-1%
7/25/22
Pending
-
-
5/18/22
Price Change
$14,500,000
-3%

 

Listed by DOUGLAS MCCAULEY, MARCUS & MILLICHAP,

Based on information from California Regional Multiple Listing Service, Inc. as of 8/10/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 1:27 PM UTC, 8/10/22

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