TRUST SALE – CLAREMONT

TRUST SALE

BY ORDER OF SUPERIOR COURT

CLAREMONT

COMMERCIAL BUILDING

BROCHURE #922

 

COURT CONFIRMATION
JULY 23, 2019
MINIMUM OVERBID $1,365,000.–
CALL FOR INFORMATION (818) 501-4888

LOCATION:   124 YALE AVENUE, CLAREMONT, CA 91711  APN 8313-019-026

DIRECTIONS:   THOMAS GUIDE (L.A. COUNTY) P. 601, D-3. NORTH OF 10 FREEWAY, EAST OF INDIAN HILL BLVD..  SHOW ME A MAP

DESCRIPTION:   COMMERCIAL BUILDING IN THE HEART OF THE VERY DESIRABLE CITY OF CLAREMONT, CALIFORNIA. THE PROPERTY CONSISTS OF 2 STORE FRONTS AND AN UPSTAIRS COMMERCIAL/RESIDENTIAL AREA. CENTRAL HEATING/AIR CONDITIONING. SEPARATE GAS & ELECTRIC METERS. PARKING FOR APPROXIMATELY 12 CARS. ROOF DAMAGE. POSSIBLE FOUNDATION, PLUMBING & WATER ISSUES. COPIES OF LEASES, UTILITY BILLS. LEASE EVALUATION & TENANT CORRESPONDENCE AVAILABLE UPON REQUEST. OWNER RESPONSIBLE FOR ROOF MAINTANANCE OVER UPSTAIRS AREA & OVER PUDGES RESTAURANT. ARRUFO RESTAURANT HAS FIRST RIGHT OF REFUSAL TO PURCHASE THE PROPERTY. PERSONAL PROPERTY NOT INCLUDED IN SALE. GREAT OPPORTUNITY TO PURCHASE AN INCOME PROPERTY IN ONE OF THE MOST DESIRABLE SMALL CITIES IN SOUTHERN CALIFORNIA.

MONTHLY INCOME:
126 YALE AVENUE  –  ARUFFO’S RESTAURANT  –  $2,717.
TENANT HAS FIRST RIGHT OF REFUSAL AND LEASE EXTENSIONS THROUGH 2032.
124 YALE AVENUE  –  PUDGES  –  $1,550.
128 YALE AVENUE  –  UPSTAIRS AREA  –  VACANT

MONTHLY EXPENSES:
WATER  –  $300.  APPROXIMATE
TRASH  –  $250.  APPROXIMATE

LOT SIZE:   9,136± SQ. FT.

ZONED:   CLCV*      SUBJECT TO GENERAL PLAN CONFIRMATION

TAXES:   PROPOSITION 13

BORJE TRUST

TERMS:   CASH. BUYER TO OBTAIN OWN FINANCING. FINANCING IS NOT A CONTINGENCY TO  THIS SALE. PROPERTY SOLD IN “AS IS” CONDITION WITH NO CONTINGENCIES WHATSOEVER. PROPERTY SOLD SUBJECT TO ACCEPTANCE OR REJECTION BY THE TRUSTEE AND SUBJECT TO COURT CONFIRMATION.

ESCROW PERIOD:   45 DAYS OR SOONER

DEPOSIT:   $25,000 CASH OR CASHIER’S CHECK REQUIRED TO BID. BALANCE OF 10% DEPOSIT BY PERSONAL CHECK. CASHIER’S CHECK SHOULD BE MADE PAYABLE TO FLANS & WEINER, INC.. IN THE EVENT YOUR BID IS REJECTED, DEPOSIT WILL BE REFUNDED WITHOUT INTEREST.

TITLE:   SELLER TO PROVIDE STANDARD TITLE POLICY.

PLEASE CALL FLANS & WEINER, INC. IF YOU HAVE ANY QUESTIONS REGARDING THIS PROPERTY OR THE AUCTION PROCESS (818) 501-4888.

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