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16 W Newman Avenue

Arcadia, CA 91007
  • $1,950,000
  • STATUS: Active
  • ON SITE: 25 Days
  • ID#: 24352897
UPDATED: 63 min ago
$1,950,000
  • 8
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,361
    SQFT
  • $580
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1953
County:

School Ratings & Info

Listing Agent(s): Benjamin J. Hsiang of Realty Investment Advisors, Inc. () and Alexander Metaxas of Realty Investment Advisors, Inc.()


Description

We are pleased to present the sale of 16 W Newman Avenue, an exquisite fourplex nestled in the heart of Arcadia. This property comprises of all two-bedroom, one-bath units, offering a unique opportunity for a buyer to live in one unit while having the other three tenants help pay your mortgage!! With a generous 3,361 square feet of living space on an expansive 8,597 square foot corner lot (R3 Zoning), the meticulously maintained lawn and landscaping enhance the property's curb appeal. There are a total of 5 parking spaces on property, including one uncovered spot and four garage spaces. Tenants benefit from the convenience of an on-site laundry facility, and there exists potential for additional income by converting some garages into Accessory Dwelling Units (ADUs) prospective buyers are advised to verify this possibility with the City. Immerse yourself in the charm of Arcadia living with this extraordinary property, a perfect combination of luxury, convenience, and investment potential. Additionally, a sister property is available at 15 W Newman Avenue, presenting another fourplex situated directly across the street.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-27T13:31:36.77. 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/147188047
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16 W Newman Avenue Arcadia, CA 91007

  • Price: $1,950,000
  • Status: Active
  • On Site: 25 Days
  • Updated: 63 min ago
  • ID#: 24352897
8
Beds
0
Baths
0
½ Baths
0.2
Acres
3,361
SQFT
$580
$/SQFT
1953
Built
Neighborhood:
605 - Arcadia
County:
Los Angeles
Area:
605 - Arcadia
Property Description
We are pleased to present the sale of 16 W Newman Avenue, an exquisite fourplex nestled in the heart of Arcadia. This property comprises of all two-bedroom, one-bath units, offering a unique opportunity for a buyer to live in one unit while having the other three tenants help pay your mortgage!! With a generous 3,361 square feet of living space on an expansive 8,597 square foot corner lot (R3 Zoning), the meticulously maintained lawn and landscaping enhance the property's curb appeal. There are a total of 5 parking spaces on property, including one uncovered spot and four garage spaces. Tenants benefit from the convenience of an on-site laundry facility, and there exists potential for additional income by converting some garages into Accessory Dwelling Units (ADUs) prospective buyers are advised to verify this possibility with the City. Immerse yourself in the charm of Arcadia living with this extraordinary property, a perfect combination of luxury, convenience, and investment potential. Additionally, a sister property is available at 15 W Newman Avenue, presenting another fourplex situated directly across the street.
Exterior Features

Open Parking Spaces 1 Parking Features Door-MultiGarage Parking Total 5

Interior Features

Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Cap Rate 2.75 Garage YN Yes Gross Income 95400 Laundry Features Common AreaLaundry Room Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 53587 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning ARR3YY



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-27T13:31:36.77. 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): Benjamin J. Hsiang of Realty Investment Advisors, Inc. () and Alexander Metaxas of Realty Investment Advisors, Inc.()