1232 S San Gabriel · San Gabriel, CA 91776

$7,150,000

6 bd · 36.0 ba · 12,441 sqft · MultiFamily public records · 91 Days on market

Built 1963 0.38 ac lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 36 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

We are pleased to present the exclusive opportunity to acquire the Emerald Apartments, a premier 36-unit multifamily investment located in the high-demand core of San Gabriel, California. Offering the lowest price per unit on the market, this well-maintained asset at 1232 S. San Gabriel Boulevard provides investors a rare combination of immediate stability and long-term appreciation. It is perfectly positioned within one of the San Gabriel Valley’s most historic and supply-constrained submarkets. Known as the "Birthplace of the Los Angeles Region, " San Gabriel blends cultural heritage with modern suburban convenience. Residents of the Emerald Apartments benefit from a sophi

Key facts

• Surface parking
• Central courtyard
• Gourmet kitchens

Tags

• 36 UNIT MULTIFAMILY INVESTMENT
• CONTROLLED GATED ENTRY
• CENTRAL COURTYARD
• ON-SITE LAUNDRY FACILITY
• SURFACE PARKING
• GOURMET KITCHENS

Property features AI

Finance

• Other: Total building area reported
• Financial info: Total actual rent reported; Gross income and scheduled operating figures provided; Net operating income reported; Operating and other expenses reported (includes insurance, maintenance, trash, utilities, taxes, pest control, gardener, reserves); Vacancy allowance reported
• HOA & community: Community apartment common interest

Exterior

• Parking: 17 uncovered parking spaces (17 total parking spaces)
• Utilities: Public sewer; District/public water; Separate gas and electric meters for units (36 electric meters, 36 gas meters); Single separate water meter
• Home design: Community apartment (attached property); 2 total stories; 36 total units across 2 buildings
• Construction: Year built sourced from assessor
• Exterior features: No pool; Curbs and sidewalks in the community

Interior

• Kitchen: Kitchens in individual units (appliance details not provided)
• Bedrooms: Unit types include 1-bedroom and 2-bedroom layouts (unit counts below)
• Bathrooms: Units with 1 bath and units with 2 baths
• Heating & cooling: Wall heaters; Wall/window cooling units
• Interior features: Two-level building; Entry at first level
• Laundry & utility: On-site laundry area

What this means for you Summary

Snapshot

• This is a 36 × 6-bed/38.0-bath units multifamily listed at $7.15M.

Deal economics

• At list price, monthly cash flow is $36k ($428k/yr) — positive. Per door: $990/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($105k rent vs $7.15M).
• Recommended offer: $6.51M (9.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 1.6% in San Gabriel — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#205 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A, crime B; Watch: health & safety D+, cost of living F.
• Rosemead Elementary (suburban): math 57% / reading 62% proficiency, ranked #274 of 1,400 in CA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 56 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $105,418/mo this rent would consume 1540% of the median local household income ($82k/yr) (locally 1715% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $49k of loan paydown is wiped out by about $214k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $2.00M cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($6.51M) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $5.45M; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $6,506,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.47% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.36%
• DSCR: 1.95
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.41×
• Total profit: $824,232
• Equity at exit: $1,066,088

10-year hold

• IRR: 17.5%
• Equity multiple: 2.26×
• Total profit: $2,528,199
• Equity at exit: $618,201

Cash invested: $2,002,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 91776

• Rents YoY: 0.2%
• Active inventory: 56
• Price-to-rent: 203.5×

Monthly cashflow live

• Estimated rent: $105,418 medium
• Mortgage (P&I): −$37,495
• Tax from tax record: −$7,177 /mo · $86,119/yr
• Insurance: −$2,979
• HOA: −$0
• Vacancy / Maint / Mgmt: −$22,138
• Net cashflow: $35,629

Break-even live

Break-even rent $60,318

Max offer price $7,150,000

Occupancy floor 61%

Sensitivity live

Price	-10% $39,677	-5% $37,653	+0% $35,629	+5% $33,605	+10% $31,582
Rent	-10% $27,301	-5% $31,465	+0% $35,629	+5% $39,793	+10% $43,957
Rate	-1.0pp $39,230	-0.5pp $37,448	base $35,629	+0.5pp $33,776	+1.0pp $31,891

36-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 36× units	6	38	$105,408
Total (36 units)			$105,418

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,787,500
• Closing costs: $214,500
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $7,150,000 Active 91 DOM
2. 2026-06-17
   days on market $7,150,000 Active 90 DOM
3. 2026-06-16
   days on market $7,150,000 Active 89 DOM
4. 2026-06-15
   days on market $7,150,000 Active 88 DOM
5. 2026-06-13
   days on market $7,150,000 Active 86 DOM
6. 2026-06-09
   days on market $7,150,000 Active 82 DOM
7. 2026-06-08
   days on market $7,150,000 Active 81 DOM
8. 2026-06-07
   days on market $7,150,000 Active 80 DOM
9. 2026-06-04
   days on market $7,150,000 Active 77 DOM
10. 2026-06-03
    days on market $7,150,000 Active 76 DOM
11. 2026-06-02
    days on market $7,150,000 Active 75 DOM
12. 2026-06-01
    days on market $7,150,000 Active 74 DOM
13. 2026-05-31
    days on market $7,150,000 Active 73 DOM
14. 2026-04-09
    price $7,150,000
15. 2026-03-19
    listed $7,350,000 Active
16. 2025-08-31
    historical
17. 2025-04-29
    listed $7,600,000 Active
18. 2025-01-10
    historical
19. 2024-10-02
    listed $7,650,000 Active
20. 2024-09-11
    historical
21. 2024-08-16
    price $7,799,999
22. 2024-03-11
    listed $7,999,999 Active
23. 2023-12-31
    historical
24. 2023-06-20
    price $7,699,999
25. 2023-03-13
    listed $7,799,999 Active
26. 2021-09-15
    historical
27. 2021-07-01
    status Active
28. 2021-04-18
    price $7,699,999
29. 2020-12-22
    listed $7,999,999 Active
30. 2019-09-26
    soldstatus $5,450,000 Sold
31. 2019-09-26
    soldstatus $5,450,000
32. 2019-09-25
    soldstatus $5,450,000
33. 2019-06-19
    historical Backup Offers Accepted
34. 2019-06-07
    price $5,580,000
35. 2019-05-06
    listed $5,950,000 Active
36. 2019-05-06
    listed $5,580,000
37. 2017-06-19
    soldstatus $4,250,000
38. 2017-06-16
    soldstatus $4,250,000 Closed
39. 2017-06-16
    soldstatus $4,250,000
40. 2017-06-09
    status Pending
41. 2017-06-01
    status Active
42. 2017-06-01
    price $3,995,000
43. 2017-05-01
    status Pending
44. 2016-12-14
    status Backup Offers Accepted
45. 2016-12-12
    listed $5,500,000 Active
46. 2016-12-12
    listed $3,995,000
47. 2005-08-31
    historical
48. 2005-08-30
    soldstatus $3,150,000
49. 2005-08-30
    soldstatus $3,150,000
50. 2005-05-18
    listed $3,400,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $86,119 · $7,177/mo
• Projected year-2 tax: $86,119 · $7,177/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,265,016
• − Mortgage interest: −$400,511
• − Property taxes: −$86,119
• − Insurance: −$35,750
• − Repairs & maintenance: −$101,201
• − Management: −$101,201
• − Depreciation: −$208,000
• Taxable income: $332,233
• Est. tax owed @ 24.0%: −$79,736
• After-tax cash flow: $347,813/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rosemead Elementary
• NCES district ID: 0633570
• Math proficiency: 57% ▲ 2.00%
• Reading proficiency: 62% ▲ 2.00%
• Median HH income: $52,794
• Composite: 52.55/100
• National rank: #3374
• State rank: #274 of 1400 in CA

Livability — San Gabriel

• Score: 71/100
• State rank: #205
• US rank: #6585

Category grades

Amenities B- Commute A+ Cost of living F Crime B Employment A Housing C Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Gabriel, CA
• County: Los Angeles County · 9,444,647 people
• City population: 60,624
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 36,952
• Household income: $82,155
• Rent vs Own: 57.2% rent · 42.8% own
• Severe rent burden: 1715.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Asian 60% Hispanic / Latino 29% Two or more races 9% White 7% Black 1%
• Hispanic origin (detail): Mexican 25%
• Foreign-born: 55% · China, Vietnam, Canada
• Languages at home: 23% English-only · Chinese 41% Spanish 19% Vietnamese 8%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -954.99%
• Current HPI: 448.5304
• Rent YoY: ▲ 0.22%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+1424.5% since first listed

40 events — show timeline

• 2026-04-09 Price Changed $7,150,000 CRMLS
• 2026-03-19 Listed $7,350,000 CRMLS
• 2025-08-31 Listing Removed — CRMLS
• 2025-04-29 Listed $7,600,000 CRMLS
• 2025-01-10 Listing Removed — CRMLS
• 2024-10-02 Listed $7,650,000 CRMLS
• 2024-09-11 Listing Removed — CRMLS
• 2024-08-16 Price Changed $7,799,999 CRMLS
• 2024-03-11 Listed $7,999,999 CRMLS
• 2023-12-31 Listing Removed — CRMLS
• 2023-06-20 Price Changed $7,699,999 CRMLS
• 2023-03-13 Listed $7,799,999 CRMLS
• 2021-09-15 Listing Removed — CRMLS
• 2021-07-01 Relisted — CRMLS
• 2021-04-18 Price Changed $7,699,999 CRMLS
• 2020-12-22 Listed $7,999,999 CRMLS
• 2019-09-26 Sold (MLS) $5,450,000 SDMLS
• 2019-09-26 Sold (MLS) $5,450,000 TheMLS
• 2019-09-25 Sold (Public Records) $5,450,000 Public Records
• 2019-06-19 Contingent — TheMLS
• 2019-06-07 Price Changed $5,580,000 TheMLS
• 2019-05-06 Listed $5,580,000 SDMLS
• 2019-05-06 Listed $5,950,000 TheMLS
• 2017-06-19 Sold (Public Records) $4,250,000 Public Records
• 2017-06-16 Sold (MLS) $4,250,000 SDMLS
• 2017-06-16 Sold (MLS) $4,250,000 TheMLS
• 2017-06-09 Pending — TheMLS
• 2017-06-01 Relisted — TheMLS
• 2017-06-01 Price Changed $3,995,000 TheMLS
• 2017-05-01 Pending — TheMLS
• 2016-12-14 Pending — TheMLS
• 2016-12-12 Listed $5,500,000 TheMLS
• 2016-12-12 Listed $3,995,000 SDMLS
• 2005-08-31 Listing Removed — CRMLS
• 2005-08-30 Sold (Public Records) $3,150,000 Public Records
• 2005-08-30 Sold (MLS) $3,150,000 CRMLS
• 2005-05-18 Listed $3,400,000 CRMLS
• 2005-03-01 Listed $3,400,000 CRMLS
• 2001-10-16 Sold (Public Records) $1,450,000 Public Records
• 1978-11-21 Sold (Public Records) $469,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $86,119 · +1.6% YoY. Source: county tax records.