THE 833, a 12-unit apartment in the City of Arcadia, California. This offering presents a rare opportunity to investors to acquire a strategically located, value-add apartment in the heart of the City of Arcadia, CA; one of the strongest and healthiest sub-market in West San Gabriel Valley area. This property is located within the prestigious Arcadia Unified School District, and it does not have any local rent control (allows highest rent increases per California AB1482 – 10% maximum). It offers a superb demographics of ±$121,527 average household income within a mile radius!
THE 833 is situated on a large 16,481 square feet lot and was built in 1960. It is a garden style two-story apartment with center courtyard (seller recently filled in the swimming pool). The property offers excellent unit mix with one (1) large x 3bedroom+3bathroom, one (1) x 2bedroom+2bathroom, one (1) x 2bedroom+1bathroom, and nine (9) x 1bedroom+1bathroom. One unit has a private patio area (sundeck) above carport. There is a clear upside for ADU potential in the carport area (buyer to verify).
Each unit is sizable with functional layout. Some units have been upgraded with modern upgrades such as new luxury wood vinyl flooring, granite kitchen countertops, tiled bathroom, and shower door. The property is separately metered for electricity and gas, windows A/C, wall heater, and individual water heater. There are total of 15 parking spaces which are provided by 2 detached carports in the back (12 carport spaces) and 3 open spaces parking in the front of the building (NO parking soft story retrofit is required). The property’s recent capital improvements are dual pane windows throughout in every unit and filled in swimming pool.
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Data last updated on 3/21/23 at 7:56 AM UTC