521 E LIVE OAK Avenue
Arcadia CA, 91006
Built in 1960
Listed by Han Chen with Growth Investment Group Pasade 626-594-4900
13-unit Luxury Mid-Century modern garden style apartment in the highly desirable City of Arcadia, CA. Sale comes with an approved plan for Two (2) additional dwelling units (ADUs); each ADU is around ±725 sf which will add additional ±1,450sf to the building size. There is NO LOCAL rent control in Arcadia which allows maximum rent increase of 5% + CPI per AB1482 (maximum 10% rent increase). This property is located within the prestigious Arcadia School District. Offered at much higher CAP Rate compared to other competing multifamily in Arcadia, this offering provides an excellent opportunity to buy a stabilized asset with high going-in cap rate and even higher proforma CAP Rate once the 2 ADUs were built. 521-523 LIVE OAK is an attractive two-story garden style gated community that was built in 1960 and renovated in 2022-2023. It is situated on a LARGE lot of ±17,977 SF and offers excellent curb appeal with manicured landscaping, complete with large front yard and back yard with seating area. The property has undergone a massive renovation in 2022 which includes: all units upgraded, updated rough mechanical + electrical + and plumbing system (main line is not updated), new drought-tolerant landscaping, new secured entrance and new parking gate, new property façade and signage, new exterior painting, new HVAC and exhaust systems, roof was not upgraded (in good condition) and much more. It has excellent curb appeal with mature trees in the front and a secured entrance. Walking into the courtyard area, tenants will enjoy a beautifully landscaped community garden with park settings complete with separate area for outdoor seating. The property offers an excellent unit mix of four (4) x 2bedroom+1bathroom and nine (9) x 1bedroom+1bathroom. Each unit is spacious with an excellent floor plan, and each has been completely upgraded from top to bottom with attention to detail. Each unit has new flooring throughout, new kitchen with shakers cabinets (complete with kitchen island for the 2B units, and breakfast counter for the 1B units), Carrera quartz countertops and stainless-steel kitchen appliances including dishwasher and SS kitchen vent hood, new tiled bathroom with new vanities, smooth ceiling throughout, in-unit washer/dryer, new modern lighting fixtures throughout and new mini-split efficient a/c heating unit in living room and each bedroom. Each unit is separately metered for electricity and gas.
October 16, 2023
October 17, 2023
521 E LIVE OAK Avenue
Arcadia CA, 91006
Dishwasher, Gas Range, Refrigerator, Dryer, Washer
Washer Hookup, Gas Dryer Hookup, Inside
ENERGY STAR Qualified Equipment, Wall/Window Unit(s)
ENERGY STAR Qualified Equipment, Wall Furnace
Level, Near Park, Near Public Transit, Rectangular Lot, Sprinkler System, Street Level
Other Property Details
Suburban, Valley, Park
Attached Carport, Assigned, Controlled Entrance
Listing Contact: 626-594-4900
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Data last updated on 10/17/2023 at 12:53 AM UTC