115 Meda Ave Glendora, CA 91741-2621

This exceptional 20-unit apartment building in Glendora, CA presents a compelling investment opportunity. Situated on a 0.48-acre lot, the 14,400 square foot property boasts a desirable unit mix: fourteen 2-bedroom, 1-bathroom units and six 1-bedroom, 1-bathroom units. Built in 1960, the property features individual electricity meters and water heaters for each unit, enhancing efficiency and tenant satisfaction. Amenities include a lush courtyard, on-site laundry facilities, and 20 carports with storage. Currently generating a Net Operating Income (NOI) of $224,758, with a projected Pro-Forma NOI of $329,606, this property offers a 3.82% cap rate and significant upside potential. The asking price is $5,880,000. Located adjacent to Glendora Village, the property benefits from a walkable location near numerous retail, dining, and entertainment options. The area boasts strong demographics, with an average household income exceeding $113,000 within a one-mile radius. Glendora's absence of rent control allows for maximizing returns through rent increases under California AB1482. Further income growth potential exists through the addition of accessory dwelling units (ADUs), subject to buyer verification. This property offers a rare chance to acquire a well-located, value-add multifamily asset with substantial cash flow potential and appreciation prospects. The property's APN is 8638-006-017.