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Multifamily
Hills at Hacienda Heights
Hacienda Heights, CA
350 Units
Built in 1970
Post Renovated Stabilized
Investment Highlights
- A Unique Opportunity - One of only five 300+ unit assets in the Southeast San Gabriel Valley and presents a rare opportunity to acquire a sizable footprint in the submarket.
- $6.35M of capital improvements completed since 2015 (including new roofs) enable investors to focus on high ROI improvements moving forward.
- The San Gabriel Valley is One of the Fastest Growing Regions in California - Rents in the region are projected to grow 21% over the next 5 years.
- Strong Submarket Fundamentals - Hacienda Heights is surrounded by affluent communities with average household incomes between $117K & $170K ($133K Avg. HHI in Hacienda Heights).
- Hacienda Heights is a Severely Underserved Market - There have been zero 100+ unit assets built in Hacienda Heights & La Puente in the last 45 years. There are no entitled projects or under construction projects in the submarket.
- Affordable Housing Conversion Opportunity - Investors will have the opportunity to capture a welfare exemption to reduce ad valorem property taxes by restricting some or all of the units to low-income housing.\ Based on in-place rent qualifications and recently released 2025 CTCAC rent limits, roughly 80% of the units are currently renting a unit at less than 80% AMI LA County rent levels.
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