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$2,280,000
Est. payment /mo
3,660 SqFt
UPDATED:
12/16/2024 09:16 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,660 sqft
Price per Sqft $622
MLS Listing ID CRWS24249825
HOA Y/N No
Year Built 1940
Lot Size 8,010 Sqft
Acres 0.18
Property Description
Presenting a rare opportunity to acquire a 6-unit multifamily property, ideally situated in the heart of Arcadia. This well-maintained asset comprises of all 1-bedroom units. These units offer approximately 3,660 square feet of rentable space on a generous 8,008 square foot lot. The property features a laundry facility, assigned garage parking spaces, and each unit is separately metered for gas and electricity. This property presents a unique value-add opportunity with substantial rental upside. Arcadia is not subject to local rent control, allowing for maximum allowable rent increases under California's AB1482 legislation. Additionally, there is potential to enhance rental income further through the addition of an accessory dwelling unit (ADU), subject to buyer. The property's prime location is a significant draw, being close proximity to The Shops at Santa Anita mall, supermarkets, golf course, restaurants, 210 freeway access, and the Monrovia Metrolink Station. The area boasts exceptional demographics, with an average household income exceeding $120,000 and a median home value approximately $1 million within a 1-mile radius. This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while
Location
State CA
County Los Angeles
Area Listing
Zoning ARR3
Interior
Fireplace No
Laundry Other
Building
Lot Description Front Yard
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 5773019020
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Listed by Jo Lin • IRN REALTY
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