20-Unit Apartment Building in Glendora Sells for $6MM 

Glendora, Cushman & Wakefield, San Gabriel Valley, NLZ Capital LLC

GLENDORA, Calif. ––  Cushman & Wakefield announced the firm has completed the sale of a 20-unit unit multifamily property in Glendora, California, in the San Gabriel Valley. Located at 710 Claraday St, the two-story, garden style walkup building sold for $6.125 million with a Cap Rate of 4.15%. The property was acquired by NLZ Capital LLC.

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 was represented by Eric Chen with CBRE.

Managing Director Mark Bridge said, “The property is well situated along a residential street with excellent curb in the Charter Oak neighborhood, a quiet and suburban community set against the majestic San Gabriel Mountains. We received over a dozen offers on the property and were able to secure an excellent above-ask offer of $306,250 per unit.”  

The property consists of 16 two-bedroom / 1 bathroom and 4 one-bedroom / 1 bathroom units and is strategically located just south of the 210 freeway and north of Arrow Highway. All units offer washer and dryer hookups, individual HVAC units outside, gas ranges for cooking, and granite countertops.