CLOSE OF ESCROW: On or before June 1, 2015. PLEASE DO NOT DISTURB ANY TENANTS! See REMARKS!
16 SEPARATE APNs!
838 Fairview Avenue, a 16-unit turn-key, pride of ownership, luxury condominium community located in the highly desirable City of Arcadia, CA. Properties of this caliber rarely come on the market in Arcadia, which has historically low inventories for income properties and high property values. Additionally, this is the first time this property has been on the market since it was built in 1989 by the current owner who was also the developer.
The property is situated on a quiet, tree-lined, residential street surrounded by several other condominium and townhome communities and is within the highly acclaimed Arcadia School District. The property has 16 individually parceled condos, and is situated on a large 37,799 SF lot with lush, well maintained landscaping; giving the property excellent curb appeal.
It has copper plumbing throughout, copper electrical wiring, central in unit A/C and forced air heat, in-ground spa, separately metered for electricity and gas, a total of 40-parking spaces (32 private garage spaces + 8 guest parking spaces) with a video surveillance system and pre-wired for driveway security gate.
630 and 700 Sunset Bl in Arcadia are beautifully maintained apartment buildings located in highly desirable Arcadia, CA. The two apartment buildings sit on adjacent parcels and offer a favorable unit mix with 4 3 bedroom, 1.5 bathroom units, 4 2 bedroom, 2 bathroom units, and 4 1 bedroom, one bathroom units totaling 12 units.
The property is centrally located within walking distance of two grocery stores as well as the Westfield Santa Anita Mall, and a short drive to Old Town Pasadena, making this a highly desirable and easily rentable location. Each unit has a covered parking spot in the rear of the complex and is separately metered for electricity. The property presents a great opportunity for an investor who is looking to add a property with strong upside rental potential in a highly desirable location.
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, very well maintained pride of ownership apartment in the City of Arcadia, CA; one of the strongest and healthiest sub-market in West San Gabriel Valley area. Known for its high barriers to entry and low inventory for multifamily investment offering has made this city one of the most desirable locations for multifamily investment.
THE 833 is situated on a large 16,481 square feet lot and was built in 1960; a NON rent-controlled apartment. It is a garden style two-story apartment with fenced swimming pool in the courtyard area. The property offers excellent unit mix with one (1) large x 3bedroom+3bathroom (* ±1,475 square feet), one (1) x 2bedroom+2bathroom (* ±1,023 square feet), one (1) x 2bedroom+1bathroom (* ±669 square feet), and nine (9) x 1bedroom+1bathroom (* ±566 square feet). One unit has a private patio area (sundeck) above carport.