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7529 Hellman Avenue, Rosemead, CA 91770
$4,725,000
7529 Hellman Avenue, Rosemead, CA 91770View this property at 7529 Hellman Avenue, Rosemead, CA 91770
7529 Hellman AvenueRosemeadCA91770
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Property 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 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.
Full Property Details
Full Property Details for 7529 Hellman Ave
General
- Sold For: $4,725,000
- Status: Closed
- Type: Multi-Family
- MLS ID: AR23080086
- Added to Site: 373 day(s) ago
Rooms
Other Rooms
- Laundry: Community
Additional Information
- Pool Description: None
- Spa Description: None
Parking
- Parking Features: Automatic Driveway Gate, Carport, Covered, Concrete, Gated
- Parking: Automatic Driveway Gate, Carport, Covered, Concrete, Gated
Location
- Area: 651 - Rosemead/S. San Gabriel
- County: Los Angeles
- Development Name: 651 - Rosemead/S. San Gabriel
- Driving Directions: From I-10 W take exit 24 turn right on New Ave & left on Hellman
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 20
- # Electric Meters: 20
Structural Information
- Entry Location: Ground
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 15,012
- Year Built: 1963
Unit Information
Unit 1
- Number of Units: 10
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Number of Units: 8
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Number of Units: 2
- Total Bathrooms: 2
- Bedrooms: 3
Lot Features
- Property View: Neighborhood
- Lot Size (Acres): 0.3407
- Lot Size Source: Assessor
- Zoning: RMR3YY
- Lot Description: 0-1 Unit/Acre
Financial Considerations
- Price Per Sq. Ft.: $314.75
- Price Per Unit: 257500
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed by Lotus Property Services, Inc., Brian Gordon
Sold by Capital Financial & Inv.,Inc., SUNNY LEE
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Schools
Schools serving 7529 Hellman Ave
School District:Garvey Elementary School District
Rating | Name | Grades | Distance |
---|---|---|---|
7544 Emerson Pl, Rosemead, CA 91770 | K-6 | 0.3 mi | |
2720 Jackson Ave, Rosemead, CA 91770 | 7-8 | 0.6 mi | |
801 S Ramona St, San Gabriel, CA 91776 | 9-12 | 1.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 7529 Hellman Ave
Date
Details
Price
Change
Source
1/09/2024
Sold
$4,725,000
-8.25%
MLS
9/08/2023
Price Reduced
$5,150,000
-1.9%
MLS
7/10/2023
Price Reduced
$5,250,000
-1.87%
MLS
5/11/2023
Listed
$5,350,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
7529 Hellman Avenue, Rosemead, CA 91770 (MLS# AR23080086) is a Multi-Family property that was sold at $4,725,000 on January 09, 2024. Want to learn more about 7529 Hellman Avenue? Do you have questions about finding other Multi-Family real estate for sale in Rosemead? You can browse all Rosemead real estate or contact a Coldwell Banker agent to request more information.