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1132 W Duarte Road

Arcadia, CA 91007
  • $9,250,000
  • STATUS: Active
  • ON SITE: 10 Days
  • ID#: AR24030166
UPDATED: 59 min ago
$9,250,000
  • 0
    BEDS
  • 0.7
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Ratings & Info

Listing Agent(s): Han Chen of Growth Investment Group Pasade (626-594-4900)


Description

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 owners 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).

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T08:29:51.853. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
www.housesforsalesocal.com/homes/147557724
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1132 W Duarte Road Arcadia, CA 91007

  • Price: $9,250,000
  • Status: Active
  • On Site: 10 Days
  • Updated: 59 min ago
  • ID#: AR24030166
0
Beds
0
Baths
0
½ Baths
0.7
Acres
1962
Built
Neighborhood:
605 - Arcadia
County:
Los Angeles
Area:
605 - Arcadia
Property Description
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 owners 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).
Exterior Features

Carport Spaces 10 Carport YN Yes Direction Faces North Entry Level 1 Entry Location 1 Lot Features LandscapedLevelNear Public TransitRectangular Lot Number Of Separate Electric Meters 21 Open Parking Spaces 20 Parking Features AssignedAsphaltDriveway Parking Total 30 Pool Features Community Pool Private YN No Property Attached YN Yes Roof Asbestos Shingle Spa Features None Spa YN No View Mountain(s) View YN Yes

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(s) Cooling YN Yes Fireplace Features None Fireplace YN No Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.92 Common Interest Community Apartment Community Features ValleyPool Contingency seller's exchange Current Financing None Electric Standard Electric Expense 4000 Fuel Expense 2000 Garage YN No Gross Income 554820 Gross Scheduled Income 554820 Insurance Expense 8737 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 10000 Net Operating Income 362812 New Construction YN No New Taxes Expense 99466 Number Of Separate Gas Meters 21 Number Of Separate Water Meters 1 Number Of Units Leased 20 Operating Expense 180912 Pest Control Expense 815 Pool Expense 2400 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 45985 Trash Expense 7000 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Vacancy Allowance Rate 2 Water Sewer Expense 12000 Water Source Public Zoning ARR3YY



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T08:29:51.853. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Lori Thompson | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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Lori Thompson | Coldwell Banker Realty
19440 Goldenwest Street
Huntington Beach CA, 92648
Listing Agent(s): Han Chen of Growth Investment Group Pasade (626-594-4900)