Meda Apartments

The Pacific Partners of Colliers International are pleased to present a rare investment opportunity: a 20-unit multifamily property located at 115 E Meda Ave, Glendora. This pride-of-ownership, value-add asset is being offered on the market for the first time in over 30 years, making it a unique chance for investors to acquire a highly desirable property in the city of Glendora.
Constructed in 1960, the property features a favorable unit mix of fourteen 2-bedroom, 1-bathroom units, and six 1-bedroom, 1-bathroom units, collectively spanning approximately 14,400 square feet on a generous 0.48-acre lot. Each unit is separately metered for electricity and equipped with its own water heater, offering convenience and cost efficiency for both tenants and owners. The property also boasts a lush courtyard, an onsite laundry facility, and 20 carports with storage spaces.
Current rents are significantly below market providing over 38% rental upside through unit renovations, with projected 5.6% pro forma CAP rate. Glendora has no local rent control, allowing investors to maximize returns with rent increases under California AB1482. Additionally, there is potential for further income growth by adding accessory dwelling units (ADUs), subject to buyer verification.
Strategically positioned, 115 E Meda Ave provides exceptional access to a wide range of amenities and attractions. The property is adjacent to the vibrant Glendora Village, within walking distance of numerous retailers, restaurants, and entertainment options, including weekly live music events. Its prime location also offers convenient access to major transportation routes, including the 210 freeway and the Gold Line Metrolink Station. The surrounding area features excellent demographics, with an average household income of over $113,000 within a 1-mile radius.
This sought-after property presents an unparalleled opportunity for investors to acquire a lucrative multifamily asset poised to generate substantial cash flow while offering a reliable hedge against inflation in the dynamic city of Glendora.
Please contact listing agents for Offering Memorandum.