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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 offering a hedge against inflation in the thriving city of Arcadia.
Property Type(s):
Residential Income
| Last Updated | 12/16/2024 | Year Built | 1940 |
|---|---|---|---|
| Community | Arcadia | Garage Spaces | 5.0 |
| County | Los Angeles |
Additional Details
| AREA | Arcadia |
|---|---|
| GARAGE | Yes |
| LOT | 8010 sq ft |
| LOT DESCRIPTION | Front Yard |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
| ZONING | ARR3HY |
Location
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Listed with IRN REALTY
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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