A Pride-of-Ownership Value-add investment opportunity in the highly sought-after city of Arcadia, California. This property is being offered for sale for the first time since 1986, making it an extraordinary find for astute investors seeking a safe haven in this inflationary market to park their investment capital with long-term appreciation potential in a mature and one of the most desirable locations in San Gabriel Valley. 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 in the heart of the City of Arcadia, and does not have any local rent control, providing maximum flexibility and rent increases capabilities (under California AB1482).
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.
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