616 Del Mar Ave, San Gabriel, CA 91776
4,376 SF | 100% Leased | Office Building | Online Auction Sale | San Gabriel, CA 91776
For Sale
Active
- Property Type
-
Office
- Square Feet
- 4,376 SF
Listing Contacts
Jason Dufault
Valerie Condon
Molly Patten
Property Overview
616 S Del Mar Avenue is pleased to be presented to the market for the first time for fee simple interest as a significant value-add opportunity in the densely populated San Gabriel, California, submarket. The multi-tenant office offers 4,376 square feet of standard office space, 16 parking spaces, 24-hour access, and bus line access. The beautiful Spanish-Colonial designed office was built in 1992 and has recently had $25,000 worth of CapEx invested into property improvements of repaving the parking lot and a brand-new red-tiled roof. 616 S Del Mar Avenue is fully occupied by MTM and short-term professional tenants. This presents new ownership a substantial investment opportunity, and increasing rents to match San Gabriel’s market asking rate of roughly $41.56 per square foot, a 0.5% increase YOY change.
San Gabriel is a peaceful suburb known as the Birthplace of the Los Angeles Region, offering easy connectivity to the greater surrounding metros and scenic mountain views. 616 S Del Mar Avenue is near the California State University of Los Angeles, the California Institute of Technology (Caltech), the University of Southern California, and Azusa Pacific University, all providing an impressive workforce pool to tap into with strong accolades. Additionally, this property is directly across the street from the San Gabriel Police Department. Commuting in and out of the city is a breeze via Interstates 210, 10, 710, 5, and 605. Retailers for after-work convenience include Shops on Lake Avenue, the Shops at Montebello, and Westfield Santa Anita. For public transportation, residents can access RideSG buses, and the nearest major airport is Hollywood Burbank Airport.
The Western San Gabriel Valley submarket has a vacancy rate of 6.8%, one of the lowest rates in the metro and well below the market-wide average of 16.1%. Occupancies have been maintained in the submarket better than almost anywhere else in Greater Los Angeles since early 2020. Of the 605,757 residents within the office’s surrounding five miles, 35% have attained a bachelor’s degree or higher, an average household income surpassing $105,000, and nearly $7.5 billion generated annually in consumer spending – a stabilized and thriving locale.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
San Gabriel is a peaceful suburb known as the Birthplace of the Los Angeles Region, offering easy connectivity to the greater surrounding metros and scenic mountain views. 616 S Del Mar Avenue is near the California State University of Los Angeles, the California Institute of Technology (Caltech), the University of Southern California, and Azusa Pacific University, all providing an impressive workforce pool to tap into with strong accolades. Additionally, this property is directly across the street from the San Gabriel Police Department. Commuting in and out of the city is a breeze via Interstates 210, 10, 710, 5, and 605. Retailers for after-work convenience include Shops on Lake Avenue, the Shops at Montebello, and Westfield Santa Anita. For public transportation, residents can access RideSG buses, and the nearest major airport is Hollywood Burbank Airport.
The Western San Gabriel Valley submarket has a vacancy rate of 6.8%, one of the lowest rates in the metro and well below the market-wide average of 16.1%. Occupancies have been maintained in the submarket better than almost anywhere else in Greater Los Angeles since early 2020. Of the 605,757 residents within the office’s surrounding five miles, 35% have attained a bachelor’s degree or higher, an average household income surpassing $105,000, and nearly $7.5 billion generated annually in consumer spending – a stabilized and thriving locale.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Property Details
- Class
- C
- Year Built
- 1992
- Stories
- 2
- Lot Size (sq. ft)
- 9,148 SF
Highlights
- 616 S Del Mar Ave is a two-story, 4,376-SF office historically home to tenants in finance, healthcare, public administration, and other services.
- Nestled in San Gabriel and part of the Greater Los Angeles Market, about a 15-minute drive from the neighboring cities of Los Angeles and Pasadena.
- Office is easily accessible from Interstates 210, 10, 710, 5, and 605 and is near Caltech and California State University’s workforce pools.
- Owners recently invested ±$25,000 CapEx in property improvements.
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