From East to West Reeds Are The Best!
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5006,5012,5020 Bartlett, and APN# 5388-032-023. San Gabriel . Four parcels, all together lot size is 170,116 s.f.
TTM approval for 30 tract homes with a common play ground and pool. Maximum allowed to built is about 2,000 square feet or so for each home. 4 BR, 3 BA. Asking Price is $8,500,000. Seller will allow a reasonable time for study but is looking for a quick closing after the study.
The subject is next to the railroad. A 9 foot sound barrier wall along the railroad needs to be built before construction. according to the seller, the cost is $100,000. Please check with the city for information about the railroad being trenched in the future. The street looks nice and there are a lot of newer home on this block.
There will be a small impact from the railroad but this is much better than a freeway problem (freeway is 24 hour noise). If this project were not by the railroad, I would say the future homes should be at high $900,000’s each. If the new owner is projecting for high $800,000’s each, they should be easy to sell and there will be some profit. After all, it is very hard to find a big piece of property in West San Gabriel valley.