7529 Hellman Avenue

Rosemead, CA 91770

$4,725,000
Last Sold Price
6
Beds
22
Baths
15,012 Sq. Ft.
$315 / Sq. Ft.
15,012
Sq. Ft.
$315
per Sq. Ft.

Description

The Hellman House Apartments is a 20-unit apartment complex located at 7529 Hellman Avenue, Rosemead, CA 91770. Built in 1963, the building features an excellent unit mix consisting of (2) three-bedroom/two-bathroom units, (8) two-bedroom/one-bathroom units and (10) one-bedroom/one-bath units. The property features a courtyard setting, spacious laundry facility and secured parking. The 14,841 square foot building sits on a large 15,012 lot, which is RMR3YY zoned. The building is separately metered...The Hellman House Apartments is a 20-unit apartment complex located at 7529 Hellman Avenue, Rosemead, CA 91770. Built in 1963, the building features an excellent unit mix consisting of (2) three-bedroom/two-bathroom units, (8) two-bedroom/one-bathroom units and (10) one-bedroom/one-bath units. The property features a courtyard setting, spacious laundry facility and secured parking. The 14,841 square foot building sits on a large 15,012 lot, which is RMR3YY zoned. The building is separately metered for both electricity and gas and consistently holds a very low annual expense ratio. The Hellman Apartments is a value-add opportunity in which new ownership has an opportunity to increase rents by virtue of implementing a renovation program to the unit interiors. Current rents are below market offering significant rental upside. This is a rare opportunity for an investor who is looking for a value-add property in a high-end supply constrained submarket with historically low vacancy rates. Featuring character 1963 construction and well-maintained condition, this trophy investment offers historically low expenses, ease of management and superb cash flow all while enjoying an excellent tenant profile in a superb location. The Hellman Apartments features a Walk Score of 56 and it is conveniently located just a short distance from restaurants, parks and 10/710/605/60 freeways.
  1. Listed by Brian Gordon • DRE #01302670 • Brokerage DRE #01764292 • Lotus Property Services, Inc. • 626-582-8001

Property Details for 7529 Hellman Avenue

View
Neighborhood
Parking Spaces Total
22
Private Pool
No
Total Units
20.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
15012
Assessor Parcel Number
5286-009-023

Location

Listing Courtesy of Lotus Property Services, Inc., Brian Gordon, DRE #01302670

Sold By CAPITAL FINANCIAL & INV.,INC., SUNNY LEE, DRE #01852431

Add your commute
LISTING UPDATED: 01/10/2024 04:17 AM

Property Details for 7529 Hellman Avenue

StatusClosed
MLS #AR23080086
Days on Market152
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
CountyLos Angeles County

Location

Listing Courtesy of Lotus Property Services, Inc., Brian Gordon, DRE #01302670

Sold By CAPITAL FINANCIAL & INV.,INC., SUNNY LEE, DRE #01852431

Add your commute

Building Information for 7529 Hellman Avenue

Building/Complex7529 Hellman AveFloor-Stories2Residences-Pet Policy-Year Built1963Building Size-

Payment Calculator

$28,083 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,786

Property Taxes

$2,297

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7529 Hellman Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $368,676
  • Gross Scheduled Income: $376,200
  • Vacancy Allowance: 7524
  • Vacancy Allowance Rate: 2
  • Gross Operating Income: $368,676
  • Net Operating Income: $227,565
  • Number Of Rented Garages: 0
  • Garage Rental Rate: $0
  • Garage Income: $0
  • Laundry Income: $261
  • Gross Multiplier: 13.69
  • Cap Rate: 4.42
  • Current Financing: None
  • Financing: Conventional
Expense Details
  • Operating Expense: $141,111
  • New Taxes Expense: $56,650
  • Gardener Expense: $750
  • Cable TV Expense: $240
  • Fuel Expense: $4,870
  • Pest Control Expense: $650
  • Security Expense: $9,484
  • Electric Expense: $2,688
  • Insurance Expense: $5,601
  • Maintenance Expense: $18,434
  • Maintenance Percent: 5.00%
  • Professional Management Expense: $16,590
  • Workmans Compensation Expense: $1,699
  • Other Expense: $9,817
  • Other Expense Description: Plumbing
  • Trash Expense: $4,749
  • Water Sewer Expense: $8,889
  • Total Expenses: $141,111
Tax / Assessment Info
  • Tax Tract Number: 2826
  • Tax Census Tract: 4823.03
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 139
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Sidewalks, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
  • Laundry Equipment Own Lease: Lease
Exterior Features
  • Security Features: Automatic Gate, Carbon Monoxide Detector(s), Resident Manager, Smoke Detector(s)
  • Security: Automatic Gate
  • Entry Location: Ground
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 20
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Auto Driveway Gate, Carport, Gated
  • Parking Garage Spaces: 0
  • Carport Spaces: 22
  • Parking Features: Auto Driveway Gate, Carport, Covered, Concrete, Gated
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • 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: $14,489
  • Unit Type Total Rent: $14,489
  • Unit Type Pro Forma: 17500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 8
  • 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: $12,564
  • Unit Type Total Rent: $12,564
  • Unit Type Pro Forma: 16100
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,036
  • Unit Type Total Rent: $4,036
  • Unit Type Pro Forma: 4700
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 20
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 20
  • Number Of Separate Gas Meters: 20
  • Number Of Separate Water Meters: 1

Property History for 7529 Hellman Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 7529 Hellman Avenue

Taxable ValueLand$967,243Additions$930,915Total$1,898,158
Tax Record2023$27,562 ($2,297 / month)
Home Facts
Total Finished SqFt15,012 SqFtAbove Grade Finished SqFt15,012 SqFtLot Size14,842 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningRMR3YYCountyLOS ANGELESAPN5286-009-023

Schools near 7529 Hellman Avenue

This home is within Garvey Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Emerson (Ralph Waldo) Elementary School
PublicK to 6

Garvey (Richard) Intermediate School
Public7 to 8

San Gabriel High School
Public9 to 12

Duff Language Magnet Academy
PublicK to 6

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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Lotus Property Services, Inc., Brian Gordon, DRE #01302670

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.