619 North San Gabriel Avenue
$725,000, .16 Acres
About This Property
Just Reduced $55K! Seller financing available. Located at 619 N San Gabriel Avenue in Azusa, California, this development opportunity has been fully entitled, 'ready-to-issue' permits ('shovel-ready') for a 7-unit mixed-use condominium project. The property is situated just south of Foothill Boulevard (Historic Route 66), on the southbound corridor of State Route 39 in prime downtown Azusa. This opportunity is ideal for an investor looking to build and hold the asset to enjoy its rental income, or an investor/developer wishing to realize return on investment upon completion. The approved plans include a +/-899 SF retail/office unit and 11 parking spaces + 1 handicap parking on the 1st floor, and six residential units on the 2nd and 3rd floors. The design for the residential condos consists of two 2 bed / 1.5 bath, and four 3 bed / 2.5 bath units. The 2-bedroom is designed to provide +/-1,132 SF of living area, and the 3-bedroom ranges from +/-1,365 to +/-1,618 SF of living area. Currently, there is an auto repair shop on site with $1,300 monthly rental income (month-to-month). The property is conveniently located with nearby Starbucks, Target, US Post Office, and Memorial Park. Furthermore, the location provides easy access to 210, 605, and 57 free
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