Just Closed: $8.15M Sale of 2.06-Acre Mixed Use Residential/Commercial Development Site in Rosemead, CA
9637 Valley Boulevard, Rosemead
Executive Managing Director Ryan Campbell, SIOR, Executive Vice President Steve Liu and Senior Associate Nikki Liu with NAI Capital Commercial’s Investment Group completed the sale of a 2.06-acre mixed-use residential/commercial development site in Rosemead, California. The total sale price was $8,150,000. Ryan, Steve and Nikki represented the seller, a family trust, in the transaction. The buyer was Cat Home LLC, a local investor.
The property at 9637 Valley Boulevard consists of 12 contiguous parcels, covering approximately 2.06 acres. It sits centrally along Valley Boulevard, with Lorica Street to the north and Temple City Boulevard to the east. The land includes approximately 18,923 square feet of commercial and residential structures.
These parcels are situated within the C-3 zoning of the city of Rosemead. Additionally, they have a Residential/Commercial Mixed-Use Development Overlay (RC-MUDO). According to the general plan, the property allows for a density of 60 dwelling units per acre, with a residential/commercial ratio of 75% to 25%. The city is supportive of a live/work design concept and outdoor dining options for the property.
Ryan pointed out, “Record-breaking prices have been observed for large land assemblages throughout the San Gabriel Valley, especially those zoned for mixed-use, with a particular focus on residential development. Such properties are currently in short supply.”
Steve added, “This was an excellent opportunity to acquire 2.06 acres of land with the potential to build over 100 multifamily units. The property, 100% occupied, with the income generated would help offset carrying costs during the development phase, making it a highly attractive acquisition for the buyer. The seller was very pleased that our team was able to close this development transaction in less than 2 months with an all-cash deal.”