Exclusive Listings

12-unit Value Add in Arcadia School District, Superb Location

Address:
833 W Duarte Rd.
Arcadia, CA 91007
Price:
$3,900,000
Status:
Available
Type:
Apartment
# Units:
12
Year Built:
1960
Building Size:
8,838 SF
Lot Size:
16,481 SF
CAP Rate:
3.53%
GRM:
19.08x
Price/Unit:
$325,000
Price/SqFt:
$441

PRIVATE TOUR IS AVAILABLE WITH AN APPOINTMENT.

INVESTMENT HIGHLIGHTS

  • Superb location in a highly desirable city of Arcadia; located within Arcadia Unified School District
  • Superb amenities - Across the street from 2 major shopping centers (99 Ranch Market in President Square, and ARCADIA HUB with Vons, Burlington Factory, and LA fitness as the major tenants), walking distance to retail stores on Baldwin Ave
  • Centrally located with access to all amenities City of Arcadia has to offer (Santa Anita Mall, Santa Anita Park, schools, library, retail stores, etc.)
  • High barriers to entry market with very limited inventory for apartment investment
  • Superb Demographics with over $97,900 average HH income within 1-mile radius
  • Good unit mix with rental upside potential; Non rent controlled
  • Minutes away from multiple new developments (townhomes, condominiums and multimillion dollars single family residential)

 

PROPERTY HIGHLIGHTS

  • Large lot size with ample parking; Recently filled in pool converted into a central courtyard
  • Each unit is separately metered for gas and electricity, individual water heater
  • Double pane windows throughout, Windows A/C, laundry facility, secured parking area
  • Some units have been upgraded with hardwood floor, granite kitchen countertops and new kitchen cabinets


EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer 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 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. 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.

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. The property’s recent capital improvements are dual pane windows throughout in every unit and filled in swimming pool. Several units have been partially upgraded with new kitchen cabinets; granite kitchen countertops, tiled bathroom, and Pergo laminate flooring.

 

LOCATION AMENITIES AND ACCESS

The property is centrally located at the heart of the City of Arcadia. The city was recently featured as “Chinese Beverly Hills” by Los Angeles Times (December 3, 2014) due to its strong pull for foreign (Chinese) money in its thriving residential (single family house) real estate market. This property is located within the prestigious Arcadia Unified School District where 4 of the schools were in the top 25 of 2013 L.A. County Highest API Scores.

It is located right across the street from two (2) major shopping centers in the area; ARCADIA HUB Shopping Center, a ±256,000sqft power center anchored by national retailers such as Vons, LA Fitness, Burlington Coat Factory, Starbucks, Panda Express, Subway and moms and pops retail stores; and PRESIDENT SQUARE Shopping Center, a community shopping center anchored by 99 Ranch Market (a popular Asian supermarket chain) and multiple restaurants. It is surrounded by multiple residential townhouses on its west and east sides.

It is strategically located within minutes away to several public schools (Holy Avenue Elementary, Camino Grove Elementary, Baldwin Stocker Elementary, etc.), Westfield Santa Anita Mall (a regional indoor shopping mall with national retailers such as Nordstrom, JC Penney, Macy’s, and Forever 21), L.A. County Arboretum and Botanic Garden, Arcadia Public Library, and all amenities the City of Arcadia has to offer.

It is also minutes away from Santa Anita Park, a thoroughbred horse racetrack that offers some of the prominent racing events in the U.S. during winter and spring. Methodist Hospital is minutes away on Huntington Drive. The property also offers excellent access to three major freeways in the area (FWY 10, FWY 210, and FWY 605) providing superb access to other parts of Greater Los Angeles area.


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@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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