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8/04/22
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A 20-unit multifamily property in Glendora sold for $6.125 mil in a deal that works out to about $306k/unit. The transaction closed at a cap rate of 4.15%.
Located at 710 Claraday St, the two-story, garden style walkup building is situated along a residential street with excellent curb appeal in the Charter Oak neighborhood, a quiet and suburban community set against the majestic San Gabriel Mountains.
The property consists of 16 two-bedroom/one-bath and four one-bedroom/one-bath units and is strategically located just south of the 210 Fwy and north of Arrow Hwy. All units offer washer and dryer hookups, individual HVAC units outside, gas ranges for cooking, and granite countertops.
Mark Bridge and Jon Mitchell with Cushman & Wakefield’s Multifamily Advisory Group in Orange County represented the seller, a private individual, as part of a 1031 Exchange. The buyer, NLZ Capital LLC, was repped by Eric Chen with CBRE.
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