Description

NEW PRICE. Royal Palms Apartments & Professional Building (618-620 W. Route 66) is a well-located mixed-use investment opportunity comprised of 48 apartment units and 28 commercial suites. Situated along the historic Route 66 corridor in the city of Glendora, California, the property sits on a 1.45-acre parcel and features a combined building size of approximately 42,485 square feet. Royal Palms Apartments is comprised of two two-story residential buildings and includes a well-balanced unit mix of twenty-four studios, twenty-three one-bedrooms, and one two-bedroom floor plans. Approximately 75% of the apartment units have been upgraded through a renovation program and feature modern interior finishes including luxury vinyl plank flooring, updated kitchen and bathroom cabinetry, recessed lighting, vinyl windows, fresh interior paint, ceiling fans, and window A/C units. Additionally, all apartment units are individually metered for gas & electricity. Exterior improvements include seismic retrofit, new roofs in 2019, new landscaping, re-plastered swimming pool and pump & new exterior doors. The property offers strong functional amenities and operational advantages, including a total of 77 on-site parking spaces, a significant competitive benefit for a mixed-use asset of this size and vintage. Parking includes 40 tuck-under spaces with individual locked storage (20 front / 20 rear) and 37 surface parking spaces distributed along the west, east, and front portions of the property, including ADA-designated stalls. Additional resident amenities include on-site bike lock stands, enhancing accessibility and modern tenant convenience. Royal Palms Professional Building consists of 28 commercial suites (8 retail suites ground level and 20 office suites 2nd story) across two floors. Commercial suites are individually metered for electricity, with tenants responsible for their own utility expenses. The landlord is responsible for common area electricity, gas for heating and air conditioning, water, and trash, consistent with a modified gross lease structure commonly utilized in the market, offering operational efficiency and predictable expense allocation.

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Property information

Property type

Residential Income

Sub-type

Mixed Use

Year built

1962

Living area

42,485 Sq Ft

Lot size

1.45 acres

Price / Sq Ft

$289

Days on market

135

Stories

2

Parcel number

8633005015

Features

Cooling

Wall/Window Unit(s)

Laundry

Common Area

Pool

Community

Community

Curbs · Street Lights · Sidewalks · Pool

Sewer / Water

Public Sewer · Public