618 West Route 66

Glendora, CA 91740

$14,250,000
Last Sold Price
3
Beds
48
Baths
43,292 Sq. Ft.
$329 / Sq. Ft.
43,292
Sq. Ft.
$329
per Sq. Ft.

Description

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...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.
  1. Listed by DOUGLAS MCCAULEY • DRE #01155706 • Brokerage DRE #00530854 • MARCUS & MILLICHAP
  2. Listed by DAVID COVARRUBIAS • DRE #01941403 • Brokerage DRE #00530854 • MARCUS & MILLICHAP

Property Details for 618 West Route 66

Parking Spaces Total
0
Private Pool
No
Total Units
76.0
Building Type
Attached
Lot Size Source
Other
Living Area
43292
Assessor Parcel Number
8633-005-015
Property Attached YN
true

Location

Listing Courtesy of MARCUS & MILLICHAP, DOUGLAS MCCAULEY, DRE #01155706; MARCUS & MILLICHAP, DAVID COVARRUBIAS, DRE #01941403

Sold By AMAYA GROUP REAL ESTATE, JASON ESPINOZA-MENDEZ, DRE #02105424; Amaya Group Real Estate, STEVEN AMAYA, DRE #01307925

Add your commute
LISTING UPDATED: 07/26/2022 02:58 AM

Property Details for 618 West Route 66

StatusClosed
MLS #CV22081529
Days on Market48
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size1.45 AC / 63,162 SF
CountyLos Angeles County

Location

Listing Courtesy of MARCUS & MILLICHAP, DOUGLAS MCCAULEY, DRE #01155706; MARCUS & MILLICHAP, DAVID COVARRUBIAS, DRE #01941403

Sold By AMAYA GROUP REAL ESTATE, JASON ESPINOZA-MENDEZ, DRE #02105424; Amaya Group Real Estate, STEVEN AMAYA, DRE #01307925

Add your commute

Building Information for 618 West Route 66

Stories-Residences-Year Built1962Building Size-Lot Size1.45 AC / 63,162 SF

Payment Calculator

$92,441 per month

30 year fixed, 7.25% Interest

Principal and Interest

$77,768

Property Taxes

$14,673

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 618 West Route 66

Income / Expense / Tax Details
Income Details
  • Gross Income: $1,089,360
  • Gross Scheduled Income: $1,089,360
  • Vacancy Allowance: 44645
  • Gross Operating Income: $1,059,110
  • Net Operating Income: $672,553
  • Laundry Income: $5,809
  • Other Income Description: Expense Reimbursements
  • Other Income 1: $8,586
  • Cap Rate: 4.64
  • Financing: Cash
Expense Details
  • Operating Expense: $386,557
  • New Taxes Expense: $172,550
  • Gardener Expense: $4,080
  • Fuel Expense: $8,873
  • Pest Control Expense: $1,095
  • Pool Expense: $1,500
  • Electric Expense: $33,042
  • Insurance Expense: $26,148
  • Maintenance Expense: $41,973
  • Maintenance Percent: 4.00%
  • Professional Management Expense: $52,179
  • Trash Expense: $27,011
  • Water Sewer Expense: $11,025
  • Supplies Expense: $7,081
  • Total Expenses: $386,557
Tax / Assessment Info
  • Tax Tract Number: 400900
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 36
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Pool Features: Community
  • Pool: Community/Common
Land/Lot Info
  • Lot Features: Over 40 Units/Acre
  • Number Of Units: 76
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 24
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,363
  • Unit Type Total Rent: $32,709
  • Unit Type Pro Forma: 1675
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 23
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,360
  • Unit Type Total Rent: $31,270
  • Unit Type Pro Forma: 1795
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,875
  • Unit Type Total Rent: $1,875
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 28
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $890
  • Unit Type Total Rent: $24,926
  • Unit Type Pro Forma: 1036
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 50
  • Number Of Separate Gas Meters: 50
  • Number Of Separate Water Meters: 1

Property History for 618 West Route 66

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 618 West Route 66

Taxable ValueLand$9,300,000Additions$4,960,028Total$14,260,028
Tax Record2023$176,077 ($14,673 / month)
Home Facts
Total Finished SqFt43,486 SqFtAbove Grade Finished SqFt43,486 SqFtStories1Lot Size63,095 SqFtStyleOffice BuildingYear Built1962ZoningGDC_RT66SPCountyLOS ANGELESAPN8633-005-015

Schools near 618 West Route 66

This home is within Glendora Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Stanton Elementary School
PublicK to 5

Sandburg Middle School
Public6 to 8

Glendora High School
Public9 to 12

Whitcomb Continuation High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of MARCUS & MILLICHAP, DOUGLAS MCCAULEY, DRE #01155706; MARCUS & MILLICHAP, DAVID COVARRUBIAS, DRE #01941403

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.