$16,500,000
MLS #: AR19163648
Multi-Family Home

Description of 6343 Rosemead Boulevard, San Gabriel, CA 91775

Golden Motel, a 184-room motel (21 units are being run as apartment - grandfathered in by the county) investment opportunity located in the City of San Gabriel, CA (unincorporated area of Los Angeles County). This offering provides a rare opportunity for investors to acquire a well-located motel with tremendous repositioning potential through corrective management to reduce current expenses. The property has been with the same ownership for more than 20 years. The property is located on Rosemead Blvd and is surrounded by single family residential communities, neighborhood shopping centers, and other residential community amenities. The property is a three-story garden style property that was built in 1967. It has an estimated size of ±61,701 SF and situated on a ±1.9acres lot. It is zoned C2 (Neighborhood Commercial) which allows multiple uses and require CUP for its current operation as a motel. It has a lobby area with secured receptionist area and a private office. It provides a center courtyard with lush landscaping and fenced swimming pool. Each unit has an average size of ±290 sqft to ±340 sqft (buyer to verify) with small kitchenette area, closet area, and full bathroom. The property has a total of 104 open parking spaces (4 are for disabled parking). Most of the units have not been upgraded which provides excellent repositioning opportunity to investors. Confidentiality Agreement is required to get full marketing setup.

Property Features of 6343 Rosemead Boulevard, San Gabriel, CA 91775

Year Built
1967
Community
654 - San Gabriel
Stories
3
Features
Parking spaces: 104.00
Lot acreage is: 1.9636
Lot zoned: LCR3VV
Units in building(s): 184
Total square feet: 85533.00
Community laundry
Courtesy of: GIG Real Estate Inc., Handoko Chen

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Agent License: 01749321
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Last Updated: 8/22/2019