813 W Gladstone St
Azusa, CA 91702
Retail Property For Sale

The mixed-use property contains three units. The front unit is approximately 2,000 SF retail building which is currently vacant. The back units are one one-bedroom/one-bathroom renting for $1095 per month and a studio unit renting for $975 per month, which both residential units are non-confirming due to new code. Per city of Azusa, the owner can submit a plan to either keep the existing mixed-use property or convert the entire property into one commercial building for city approval. Or lastly, the owner can develop the land into a mixed-sue project which city allows up to 27 units per acre. The property is located at the corner of Gladstone Street and S Vernon Street, just minutes away from the Freeway I-210. In addition, the property is located within close proximity to Valleydale Elementary School, Alice M. Ellington Elementary School, and Gladstone High School. The City of Azusa has a strong rental market. The City of Azusa is home to the Azusa Pacific University, a well-known private Christian university founded in 1899 with undergrad tuition and fees at $33,096 per year. This investment offers a rare asset in the City of Azusa which has very limited commercial property being offered for sale. An astute investor can capitalize the zone change to acquire the subject property for either residential or commercial use and ultimately develop the land to maximize the value in the future.