130 South MISSION Drive, San Gabriel, CA 91776 listing details

An excellent opportunity for developer and EB-5 investor, the property situates in the heart of City of San Gabriel, in a high demand rental area of the San Gabriel Mission District. 130 S Mission has a well-maintained and very spacious 8 units apartment, average unit size is 952 Sqft. 717 Padilla St, adjacent to the subject property, has a rental single family house around 1024 Sqft building size. Separate electric and gas meters. Close to everything. No rent control, current rents are considerably below the market rate with plenty of upside potential. Two lots together have almost 20,000 sqft land. The price is for 2 lots. Owner has a mixed-use project with 6 commercial units and 11 residential condo units on both lots. The project blue print has already been passed by the City?s Planning and Design Review Commissions. Project entitlements are extended to Oct. 2015. After update is ready for applying plan check and building permit. It will be an excellent mixed-use project in the San Gabriel Mission District. Plan will be available upon request for buyers interest in buying 2 lots. Buyer should check with City regarding the redevelopment opportunity. Information deemed reliable but not guaranteed.