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9212 Burke 9212 Burke St 44 Unit Apartment Building $10,975,000 ($249,432/Unit) 6.25% Cap Rate Pico Rivera, CA 90660
Investment Highlights
- 6.3% CAP and 9.74 GRM on Current Income
- Excellent Pico Rivera Location, Just North of Downey and Adjacent to Major Retail
- Not Subject to Rent Control Other Than AB 1482
- Well-Maintained Property with Large Leasing Office and Majority Upgraded Units
- Property Upgrades Include New Subpanels and SB 721 Clearance
Executive Summary
We are pleased to present Burke Apartments, a 44-unit multifamily investment opportunity in a desirable Pico Rivera neighborhood. The property features a mix of one- and two-bedroom floor plans and offers a 6.3% cap rate and 9.74 GRM based on current income. Capital improvements include new electrical subpanels and completion of the SB 721 balcony inspection and clearance. Community amenities include a swimming pool, ample covered parking with storage, a leased laundry facility, and a large leasing office with a restroom. Nearly all units feature vinyl windows, while interior amenities include gas cooking, wall-mounted air conditioning, and gas wall heating. The property also benefits from a RUBS program and individually metered gas and electricity, supporting utility expense recovery. Burke Apartments offers a well-maintained investment opportunity with strong in-place income.
Property Facts
| Price | $10,975,000 | Apartment Style | Low-Rise |
| Price Per Unit | $249,432 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.88 AC |
| Cap Rate | 6.25% | Building Size | 29,386 SF |
| Gross Rent Multiplier | 9.74 | No. Stories | 2 |
| No. Units | 44 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 2.04/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM, Pico Rivera | ||
| Price | $10,975,000 |
| Price Per Unit | $249,432 |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| Gross Rent Multiplier | 9.74 |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 29,386 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.04/1,000 SF |
| Zoning | RM, Pico Rivera |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 37 | $1,963 | 625 |
| 2+1 | 7 | $2,277 | 850 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $5,386,273 | |
| Land Assessment | $3,551,388 | Total Assessment | $8,937,661 |
Property Taxes
Parcel Numbers
Land Assessment
$3,551,388
Improvements Assessment
$5,386,273
Total Assessment
$8,937,661
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