Priced at 4.07% CAP Rate and Low Price/SF for the area, A Pride-of-Ownership value-add investment opportunity in the highly sought-after city of Arcadia (NO Local Rent Control). Offered at a high CAP Rate and Proforma CAP Rate close to 6%, this property is being offered for sale for the first time since 1986. The property is a garden style pride-of-ownership 2-story property with an excellent unit mix of mostly oversized 3bedrooms units and several large 1bedroom units. It is located within the highly desirable Temple City School District and surrounded by many newer townhouses and condominiums and offers an excellent demographics of ±$123,449 average household income within a mile radius! Tenants enjoy its proximity to Santa Anita Mall and Santa Anita Park and its walking distance to school, shopping, groceries, and other amenities both Arcadia and Temple City have to offer. The property has a total of 19,432 SF building size which translates to ±971sf average unit size, is situated on a large 30,379 square feet lot (R3 zoned) and was built in 1962. It has been very well maintained without any known deferred maintenance; it has a brand-new roof (replaced in 2021), well-manicured landscaping, fenced swimming pool, and security cameras system. It offers an excellent unit mix of ten (10) x 3bedroom+2bathroom, two (2) x 3bedroom+1bathroom, and eight (8) x large 1bedroom+1bathroom units. Each unit is large and bright with central heating, windows A/C, and ceiling fans. Some units have upgraded kitchen and upgraded bathroom. Four units have private patio, and two units have small private backyard. The property is separately metered for electricity and gas, has a master water heater, and shared laundry room (leased). There is a total of 30 parking spaces which are provided by 10 open spaces + 13 detached carport spaces + 7 tuck-under parking. There is an additional parking space that has been converted into the owner’s storage room and a 2nd storage room near the laundry area. The large lot provides clear opportunity for future development, condo conversions or for Additional Dwelling Units (ADU).

Last Updated	4/30/2024	Year Built	1962
Community	Arcadia	County	Los Angeles

Price History

Prior to Apr 30, '24	$9,250,000
Apr 30, '24 - Today	$9,000,000

Additional Details

AIR	Wall/Window Unit(s)
AIR CONDITIONING	Yes
AREA	Arcadia
BUYER'S BROKERAGE COMPENSATION	2.000 %
GARAGE	Asphalt, Assigned, Driveway
HEAT	Wall Furnace
HOA DUES	0
LOT	0.7 acre(s)
LOT DESCRIPTION	Landscaped, Level, Near Public Transit, Rectangular Lot
PARKING	Assigned,Asphalt,Driveway
POOL	Yes
POOL DESCRIPTION	Community
SEWER	Public Sewer
STORIES	2
UTILITIES	Cable Connected,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected, Electric: Standard
VIEW	Yes
VIEW DESCRIPTION	Mountain(s)
WATER	Public
ZONING	ARR3YY

Location

 

Contact us about this Property

---