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7/26/23
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A local investor paid $8.15 mil for a 2.06-acre, mixed-use residential/commercial development site in Rosemead.
The property, located at 9637 Valley Blvd, consists of 12 contiguous parcels situated along Valley Blvd, with Lorica St to the north and Temple City Blvd to the east. The land includes 18.9k sf of commercial and residential structures.
The parcels are situated within the C-3 zoning of the city of Rosemead. Additionally, they have a Residential/Commercial Mixed-Use Development Overlay (RC-MUDO). According to the general plan, the property allows for a density of 60 dwelling units per acre, with a residential/commercial ratio of 75% to 25%. The city is supportive of a live/work design concept and outdoor dining options for the property.
Ryan Campbell, SIOR, Steve Liu and Nikki Liu with NAI Capital Commercial’s Investment Group represented the seller, a family trust, in the transaction. The buyer was Cat Home LLC, a local investor.
Steve Liu noted, “The property, 100% occupied, with the income generated would help offset carrying costs during the development phase, making it a highly attractive acquisition for the buyer.” The transaction closed in less than two months in an all-cash deal.
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