Exclusive Listings

Prime 3-units in La Crescenta, Excellent Unit Mix, Superb Location

Address:
3316 Montrose Ave.
La Crescenta, California 91214
Price:
$1,595,000
Status:
Available
Type:
Apartment
# Units:
3
Year Built:
1923 & 1965
Building Size:
3,246 SF
Lot Size:
7,368 SF
CAP Rate:
3.78%
GRM:
18.50x
Price/Unit:
$532,000
Price/SqFt:
$491

INVESTMENT HIGHLIGHTS

  • Superb location in La Crescenta with an average household income of ±$140,000 within a mile radius
  • NON-rent-controlled stabilized asset suitable for a 1031 exchange buyer or a long-term investor
  • Located in a strong submarket with high barriers to entry, low vacancy rate, and high rent growth
  • Located within the highly desirable La Crescenta-Montrose school district
  • Located in a quiet tree-lined residential area and surrounded by high-priced single-family houses
  • Excellent access to FWY 210, FWY 2, and FWY 134; ease of access to downtown Los Angeles
  • Investment only require 25%-30% down payment!
  • Rental upside potential

PROPERTY HIGHLIGHTS

  • Excellent unit mix with one single story detached 2-bedroom + 1.5-bath + DEN house and two townhome-style units - 4-bedroom + 1.5-bath and 2-bedroom + 1.5-bath + DEN

  • Upgraded property with many recent improvements

  • Spacious, newly renovated detached home in front
  • Large lot size with abundant parking (total 6 spaces) with new carport roof
  • Lush, low-maintenance landscaping
  • Each unit is complete with washer and dryer hookups, stainless steel appliances, high-end finishes
  • Some units have fireplaces, front unit has semi-private patio in the back
  • Each unit is separately metered for water, electricity, and gas


EXECUTIVE SUMMARY

The Growth Investment Group is proud to present 3316 Montrose Avenue; a charming pride of ownership 3-unit investment in the highly desirable city of La Crescenta, California.

This spectacular opportunity is perfect for an owner-user investor or an investor looking to acquire a non-rent-controlled, superbly located property, in one of the strongest submarkets in the Los Angeles County.

The property is located on a serene and highly convenient street that is surrounded by lush trees, beautiful residential homes, and apartments. Situated on a lot size of ±7,368 SF with a total building size of ±3,246 SF, it features an excellent unit mix of a 2-bedroom + 1.5-bath + DEN detached home in front and a two-story building in the rear with one 4-bedroom + 1.5-bath townhouse unit and 2-bedroom + 1.5-bath townhouse unit. Built in 1923 (front house) and 1965 (duplex), the property has undergone recent renovation and has been impeccably maintained, offering a turn-key pride of ownership opportunity for its future owner.

Each unit is spacious and bright; it has been renovated with laminate wood flooring, upgraded kitchen with quartz countertops and new kitchen cabinets, stainless steel appliances, under-mounted sink, contemporary tiled backsplash, upgraded bathrooms with new vanities, and paneled doors throughout; separately metered for water, gas, and electricity, with laundry hookups.  The front detached home is a charming, upgraded, detached home with a fireplace; the rear two-story building features two attractive townhome-style units.  The property also features new exterior paint, extensive termite repair, beautiful landscaping, a new carport roof, and 2 dedicated parking spaces for each unit.   

LOCATION AND ACCESS

3316 Montrose Avenue is located in the highly desirable city of La Crescenta with excellent demographics of ±$140,000 Average Household Income within a mile radius. It is zoned for the nationally recognized, award-winning middle school and high school and within walking distance to La Crescenta Elementary School and Crescenta Valley High School, situated near Crescenta Valley Dog and Skate Park.

La Crescenta is a community that combines urban living and metropolitan convenience.  La Crescenta’s highest point sits 2700 feet above sea level, overlooking the Pacific Ocean during the day and clear views of downtown Los Angeles city lights at night.  Crescenta Valley continues to be a safe, convenient place to raise a family, conduct business, and enjoy Southern California at its best.

The property is surrounded by single-family homes with nearby churches, community parks, shopping centers, entertainment and public libraries.  Just minutes to USC Verdugo Hills Hospital, Descanso Gardens, Rose Bowl Stadium, The Americana at Brand, La Tuna Canyon hiking and mountain bike trails, and Montrose - Glendale’s historic old town, featuring dining, shopping, bowling, an upscale movie theatre, and a weekly farmers’ market. 

The property has superb access to FWY 134, FWY 210, and FWY 2, less than 20 minutes to downtown Los Angeles with easy access to public transportation.  Due to its outstanding location, residents also enjoy the tranquility of north Glendale and immediate access to Angeles National Forest, providing natural environments with spectacular scenery. 


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

Jeanelle Mountford
Direct: 626.898.9710
jmountford@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
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