Exclusive Listings

4-unit Value Add prime Arcadia, 100% Vacant, Condo Conversion Possible

Address:
419 California St
Arcadia, CA 91006
Price:
$2,050,000
Status:
Available
Type:
Apartment
# Units:
4
Year Built:
1977
Building Size:
4,004 SF
Lot Size:
9,265 SF
CAP Rate:
3.83%
GRM:
17.98x
Price/Unit:
$512,500
Price/SqFt:
$512

INVESTMENT HIGHLIGHTS

  • Semi Value-Add/partially upgraded apartment in Class A location (Arcadia School District)
  • 100% vacant, new owner can rent at highest rent or try condo-conversion route
  • 2 units have been completely remodeled
  • Strong demographics with ±$103,462 average household income within a 1-mile radius
  • Walk to Downtown Arcadia, First Ave Middle School, Santa Anita Golf Course, Bonita Park, etc.
  • Nearby Santa Anita Mall, Santa Anita Park, Methodist Hospital, FWY 210, schools, library, retail stores, etc.
  • Surrounded by newly built high-priced condominiums and townhomes; Multiple possibilities to add value!

 

PROPERTY HIGHLIGHTS

  • Excellent unit mix with 2bed and 1bath units
  • Excellent curb appeal with beautiful landscaping
  • Large lot offering ample parking (9 spaces total)
  • Ground floor units have large private backyard
  • 2 units have been completely upgraded
  • Central A/C (new HVAC units), individual water heater, separately metered for electricity and gas
  • 2 garage parking, 3 carports and 3 open spaces; ZERO tuck-under parking

 

EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer 419 California Street, a 4-unit Semi value-add, partially upgraded apartment in the City of Arcadia, California. The property is located within the award-winning Arcadia School District. The property is surrounded by newer condominiums and townhomes. The area has a superb demographics with average household income of $103,462 within a mile radius!

The property is a large 4,004 square foot building and situated on a large 9,265 square feet lot. It offers excellent unit mix with 2 x 2bedrooms and 2 x 1bedroom units. Built in 1977, the property has been extensively upgraded in the past 24 months. Two of the units have been fully upgraded with high-end upgrades. Each unit has central A/C and heating (4 new HVAC units) and separately metered for electricity and gas.

Each unit is large with an estimated size of 1,000 square foot (buyer to verify). The 2 upstairs units have undergone top-down renovation with new central A/C and heat, new luxury wood flooring, new quartz kitchen countertops and new kitchen cabinets, in-unit washer and dryer, new bathtub complete with tiled bathroom with luxury tile backsplash, new sliding barn doors pantry, and so much more. Ground floor units have large private backyard, and 2nd floor units have small private patios.

There are 8 parking spaces which are provided by a detached carport in the back and an open space in front. The property does not require any soft story retrofit.

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 within walking distance to downtown Arcadia on Huntington Drive, First Ave Middle School, Bonita Park, and Santa Anita Golf Course. It is within minutes away from Santa Anita Mall, Arcadia High School, Methodist Hospital, FWY 210 and many amenities City of Arcadia has to offer. It is surrounded by multiple residential townhouses on its west and east sides. 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


Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
Copyright © 2018 GIG Real Estate, Inc. dba. Growth Investment Group - Corp. ID 02021933
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