The Island Apartment Homes | 8222 Rosemead Blvd
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The Island Apartment Homes 8222 Rosemead Blvd
78 Unit Block of Flats £14,729,622 (£188,841/Unit) 5.68% Net Initial Yield Pico Rivera, CA 90660
Investment Highlights
- Approximate 6% Cap Rate on Current Income
- Situated on Major Thoroughfare with Excellent Street Frontage
- Gated and Upgraded Community with Renovated Pool Area, Landscaping, and Exteriors
- Well-Maintained Community with a New Roof and Copper Plumbing
- Majority Renovated Units with Custom Finishes
Executive Summary
The Island Apartment Homes in Pico Rivera, CA, is a well-maintained, gated community offering a mix of studio and 1-bedroom units. The property features remodeled exteriors, a recently replaced roof, copper plumbing, and resort-style landscaping. Residents enjoy a range of modern amenities, a security camera system, a laundry facility, an on-site leasing office, bike storage, and remote access parking. The complex boasts a renovated pool area with designer furniture and lighting, as well as double grill stations for outdoor dining. About 85% of the units have undergone significant renovations and are upgraded with quartz countertops, custom kitchen cabinets, single bowl undermount sinks, stainless steel appliances, vinyl plank flooring, remodeled bathrooms, wall A/C and heating units, ceiling fans, large closets, and dual-pane windows. Operational efficiency is enhanced by individual electric meters for all units and the use of a RUBS (Ratio Utility Billing System) Program. The property offers an approximate 6% cap rate on current income, making it a strong investment opportunity. With its upgraded amenities, resort-like atmosphere, and desirable location, The Island Apartment Homes presents a solid return on investment and potential for further rental upside.
Property Facts
| Price | £14,729,622 | Apartment Style | Low Rise |
| Price Per Unit | £188,841 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.54 AC |
| Net Initial Yield | 5.68% | Building Size | 37,880 SF |
| Gross Rent Multiplier | 11.23 | Number of Floors | 2 |
| No. Units | 78 | Year Built | 1957 |
| Property Type | Residential | Parking Ratio | 2.11/1,000 SF |
| Property Subtype | Apartment |
| Price | £14,729,622 |
| Price Per Unit | £188,841 |
| Sale Type | Investment |
| Net Initial Yield | 5.68% |
| Gross Rent Multiplier | 11.23 |
| No. Units | 78 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.54 AC |
| Building Size | 37,880 SF |
| Number of Floors | 2 |
| Year Built | 1957 |
| Parking Ratio | 2.11/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Stainless Steel Appliances
- Tub/Shower
- Carpet
Site Amenities
- Controlled Access
- Laundry Facilities
- Picnic Area
- Pool
- Gated
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 64 | £1,297 | 400 |
| 1+1 | 14 | £1,535 | 575 |
Walk Score ®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 6387-002-022 | Improvements Assessment | £4,081,800 |
| Land Assessment | £6,657,527 | Total Assessment | £10,739,327 |
PROPERTY TAXES
Parcel Number
6387-002-022
Land Assessment
£6,657,527
Improvements Assessment
£4,081,800
Total Assessment
£10,739,327
zoning
| Zoning Code | RM, Pico Rivera |
| RM, Pico Rivera |
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The Island Apartment Homes | 8222 Rosemead Blvd
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