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618 W Route 66, Glendora, CA 91740
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618 W Route 66 Glendora, CA 91740

$14,250,000 Sold Price as of 07/26/2022
  • 25 Beds
  • 48 Baths
  • 43,292 Sq.Ft.
Sold
$14,250,000 Sold Price as of 07/26/2022 Refinance Your Mortgage
Map preview of 618 W Route 66, Glendora, CA 91740

Property Overview: 618 W Route 66 Glendora, CA has 25 bedrooms, 48 bathrooms, 43,292 living square feet and 63,162 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are proud to exclusively present the opportunity to acquire Royal Palms Apartments and Professional Building, a mixed-use investment opportunity comprised of 48 apartment units and 28 commercial suites. Located on the famous Route 66 in the city of Glendora, California, Royal Palms was built in 1962 and sits on a 1.45 acre site and has a combined building size of approximately 43,292 square feet. Royal Palms Apartments is comprised of two-2 story buildings and consists of twenty four-studio/one bathroom units, twenty three-one bedroom/one bathroom units and one-two bedroom/one bathroom unit. Approximately 50% of the apartments have been updated to feature laminate plank flooring, formica countertops and ceiling fans. The studio/one bathroom floor plans feature walk-in closets and are equipped with a gas stove/oven and a refrigerator. The one bedroom/one bathroom floor plans are spacious and feature his and her closets with a center vanity and are equipped with a gas stove/oven. The property offers various amenities including a secured entrance, 42 tuck-under parking spaces with storage units, two on-site laundry facilities, four central water heaters, bike rack and a gated swimming pool. The buildings have had recent improvements to include seismic retrofit, two new roofs in 2019, new landscaping, re-plastered swimming pool and pump and new exterior doors. Royal Palms Professional Building is a two-story building that consists of 28 office/retail suites (8 retail suites ground level and 20 office suites 2nd story) ranging from 293 square feet to 1,180 square feet and features 38 surface parking spaces. The property is situated with 225 feet of street frontage on Route 66 with 2 curb cut outs and a traffic count of 20,574 vehicles per day. The building also features central air conditioning and heat, four common area restrooms, new lighting and was re-roofed in 2017. Additional improvements include seismic retrofit, new exterior lighting and freshly painted exterior and interior. Another possible revenue source for the office spaces could include creating virtual offices for individuals who simply require a mailing address.

Listed by DOUGLAS MCCAULEY | BRE #01155706 | MARCUS & MILLICHAP
Co-listed by DAVID COVARRUBIAS | BRE #01941403 | MARCUS & MILLICHAP
Last checked: 4 minutes ago | Last updated: July 26th, 2022 | Source CRMLS | DOM: 48

Home details

Lot Sq. Ft
63,162
HOA Dues
$0/mo
Year built
1962
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
CV22081529
City
Glendora
County
Los Angeles
Time on Site
883 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 76
  • Total # of Buildings: 3
  • # of Electric Meters: 50
  • # of Gas Meters: 50
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 24
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,363
  • Total Rent: $32,709
  • Pro Forma/Market Rent: $1,675
Unit Breakdown 2
  • # of Units: 23
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,360
  • Total Rent: $31,270
  • Pro Forma/Market Rent: $1,795
Unit Breakdown 3
  • # of Units: 28
  • # of Beds: 0
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $890
  • Total Rent: $24,926
  • Pro Forma/Market Rent: $1,036
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,875
  • Total Rent: $1,875
  • Pro Forma/Market Rent: $2,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.64%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $1,089,360
  • Net Operating Income: $672,553
  • Gross Operating Income: $1,059,110
  • Vacancy Allowance: $44,645
  • Laundry Income: $5,809
  • Other Income 1: $8,586
  • Other Income Description: Expense Reimbursements
Annual Expense Breakdown
  • Total Operating Expense: $386,557
  • Electric: $33,042
  • Gas/Fuel: $8,873
  • New Taxes: $172,550
  • Trash: $27,011
  • Gardener: $4,080
  • Insurance: $26,148
  • Maintenance: $41,973
  • Professional Management: $52,179
  • Water/Sewer: $11,025

Property Details for 618 W Route 66

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: Community
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Over 40 Units/Acre
  • Lot Size Source: Other
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 76
  • Parcel Number: 8633005015
  • Year Built Source: Other
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Between Barranca Ave and S Grand Ave
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Glendora Agent

Sale History for 618 W Route 66

Last sold for $14,250,000 on July 26th, 2022

  • July, 2022

  • Jul 26, 2022

    Date

    Sold

    CRMLS: CV22081529

    $14,250,000

    Price

  • Apr 21, 2022

    Date

    Active

    CRMLS: CV22081529

    $14,995,000

    Price

  • March, 2021

  • Mar 23, 2021

    Date

    Sold

    CRMLS: CV20170848

    $10,150,000

    Price

  • Feb 17, 2021

    Date

    Pending

    CRMLS: CV20170848

    $11,600,000

    Price

  • Oct 13, 2020

    Date

    Price Change

    CRMLS: CV20170848

    $11,600,000

    Price

  • Aug 20, 2020

    Date

    Active

    CRMLS: CV20170848

    $12,200,000

    Price

  • Listing provided courtesy of CRMLS

    PRICE JUST REDUCED $600,000. We are proud to present for sale 618 and 620 West Route 66 Glendora, CA. Royal Palms Apartments and Professional Building is a mixed-use investment opportunity comprised of 48 apartment units and 28 commercial suites. Royal Palms Apts is comprised of two-2 story buildings and consists of 24-studio/one bathroom units, 23-one bedroom/one bathroom units and 1-two bedroom/one bathroom unit. Approximately 50% of the apartments have been updated to feature laminate plank flooring, formica countertops and ceiling fans. The studio/one bathroom floorplans feature walk-in closets and are equipped with a gas stove/oven and a refrigerator. The one bedroom/one bathroom floorplans are spacious and feature his and her closets with a center vanity and are equipped with a gas stove/oven. The property features a secured entrance, 42 tuck-under parking spaces with storage units, two laundry rooms, four central water heaters and a swimming pool. The buildings have had recent improvements to include two new roofs in 2019, new exterior unit doors, a re-plastered swimming pool and pump. Royal Palms Professional Building is a two-story building that consists of 28 office/retail suites ranging from 293 sqft to 1,180 sqft and features 38 surface parking spaces. The property is situated with 225 feet of street frontage on Route 66 with 2 curb cut outs. The building also features central air conditioning and heat, four common area restrooms and was re-roofed in 2017.

  • December, 2019

  • Dec 24, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • August, 2000

  • Aug 7, 2000

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 618 W Route 66

Assessed Value (2020): $3,053,650
Year Land Value Improved Value Assessed Value
2020 $1,072,872 $1,980,778 $3,053,650

Home Value Compared to the Market

This property vs the competition

618 W Route 66 sold on July 26, 2022 for 1586.05% higher than the current median sold price for the city of Glendora which is $860,000. The median sold price per/sqft for Glendora is $566 and this home is sold at $334.93 per/sqft which puts the price per square foot 40.82% lower than the current median sale per square foot for the city of Glendora.

About 618 W Route 66

Detailed summary of property

618 W Route 66 is a multi family that recently sold in Glendora, CA 91740. This multi family property offered 25 bedrooms, 48 bathrooms, roughly 43,292 living square feet, and sits on an approximately 63,162 square foot lot. 618 W Route 66 was first listed on ArdentRealEstateGroup.com on April 21, 2022. The homeowner sold the property for $14,250,000. Home in Glendora are selling for a median price of $860,000 and a median price per square foot of $566. Based on Ardent Real Estate Group's Glendora Market Data, this home is sold 1586.05% higher than the current median priced home. Local homes that are currently for sale include 900 Hilgard Ave and 8021 Mango Ave. While the average home in Glendora, CA is selling in 64 days, 618 W Route 66 has a days on market of 48 days. There are currently 110 homes for sale in the Glendora real estate market and 94 of them are single family homes while 9 of them are condos and 7 are townhomes. For more information on this home for sale at 618 W Route 66 Glendora, CA 91740 contact Ardent Real Estate Group and we will put you in touch with one of our Glendora agents.

Public Facts for 618 W Route 66

Public county record property details
Beds
--
Baths
--
Year built
1962
Sq. Ft.
43,486
Lot Size
63,118
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
--
APN
8633-005-015

The source for these homes facts are from public records.

91740 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$795,000
Median List Price/Sq.Ft.
$555
Median Sold Price
$795,000
Median Sold Price/Sq.Ft.
$527
Total Inventory
42
Median Sale to List Price %
104.62%
Avg Days on Market
27
Loan Type
Conventional (66.67%), FHA (6.67%), VA (0%), Cash (13.33%), Other (13.33%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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