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Woodcrest 19050 Colima Rd 73 Unit Apartment Building $23,974,864 CAD ($328,423 CAD/Unit) 5.45% Cap Rate Rowland Heights, CA 91748
Investment Highlights
- Developed & Constructed by Current Ownership - First Time on Market
- Almost 75% Large 2-Bedroom 1-Bath and 2-Bedroom 2-Bath Units
- Well-Maintained & Gated Property with Over 2:1 Parking
- 1976 Construction on Over 4.25 Acres
- Excellent Location Near the Intersection of Colima Rd. & Nogales St.
- $258/Sq. Ft. & $237K/Unit; Below a 10.5 GRM on Current Income & Over an 8% Cap Rate on Market Rents
Executive Summary
We are pleased to present Woodcrest Apartments, a 73-unit multifamily investment opportunity in Rowland Heights. Offered for sale for the first time, the property was developed and constructed by the current ownership in 1976 and is situated on over 4.25 acres. Woodcrest Apartments features a desirable unit mix primarily consisting of large two-bedroom, one-bath, and two-bedroom, two-bath units, including 17 single-story, two-bedroom, two-bath units with vaulted ceilings and dual-master layouts. Approximately 25% of units have been upgraded with laminate flooring, renovated kitchens, and improved bathrooms. Units feature wall A/C, gas heating, spacious bedrooms, and private patios or balconies. Property amenities include a pool, spa, large green courtyard, leasing office, gated access, over 2:1 parking, laundry facilities, and a security camera system. The property also features copper plumbing throughout, with one building recently re-plumbed and improved with a new roof. Woodcrest Apartments offers investors the opportunity to acquire a well-maintained asset with significant upside and over an 8% cap rate on market rents. The property is subject to Unincorporated Los Angeles County rent control.
Property Facts
| Price | $23,974,864 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $328,423 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 4.27 AC |
| Cap Rate | 5.45% | Building Size | 67,132 SF |
| Gross Rent Multiplier | 10.49 | No. Stories | 2 |
| No. Units | 73 | Year Built | 1976 |
| Property Type | Multifamily | Parking Ratio | 2.2/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LCR2* | ||
| Price | $23,974,864 CAD |
| Price Per Unit | $328,423 CAD |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Gross Rent Multiplier | 10.49 |
| No. Units | 73 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 4.27 AC |
| Building Size | 67,132 SF |
| No. Stories | 2 |
| Year Built | 1976 |
| Parking Ratio | 2.2/1,000 SF |
| Zoning | LCR2* |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | $2,191 CAD | 750 |
| 2+1 | 28 | $2,456 CAD | 850 |
| 2+2 | 25 | $2,847 CAD | 900 - 1,000 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 8272-017-034 | Improvements Assessment | $3,893,050 CAD |
| Land Assessment | $561,310 CAD | Total Assessment | $4,454,360 CAD |
Property Taxes
Parcel Number
8272-017-034
Land Assessment
$561,310 CAD
Improvements Assessment
$3,893,050 CAD
Total Assessment
$4,454,360 CAD
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Woodcrest | 19050 Colima Rd
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