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Key Details
Sold Price $2,018,750
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID WS15257183
Sold Date 03/04/16
HOA Y/N No
Year Built 1954
Annual Tax Amount $7,798
Tax Year 2015
Lot Size 0.392 Acres
Property Description
LOCATION! LOCATION! LOCATION! Excellent investment opportunity in Arcadia. Come see this 8-unit multi-family building located in the heart of Arcadia, within the first block south of Huntington Dr. This property has 2 buildings with 4 units in the front and 4 units in the back, each unit has one on-site parking space with storage, and there is a community laundry room. This property is conveniently situated close to Arcadia schools, the mall, public transportation, hospitals, and churches. Each unit has separate electric and gas meters and the owner pays for the water and trash. 7 of the 8 units are occupied and current rents are low for the area. The market rate is about $950-$1350 per unit and the Proforma cap rate is about 4.8%. The owners are very motivated. Act fast or you will miss out! Check with the City to verify all information and the multitude of uses for this AAR3 zoned property. Please DO NOT DISTURB THE OCCUPANTS. THANK YOU.
Location
State CA
County Los Angeles
Area 605 - Arcadia
Interior
Heating Floor Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 8
Total Parking Spaces 16
Building
Lot Description Level, Rectangular Lot, Street Level, Yard
Water Public
Others
Tax ID 5783007008
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with ADAM LEACH • NEW NEIGHBOR PROPERTIES