- First time ever offered for sale since 1961!
- Attractive investment offering high Proforma CAP Rate, and high-qualify asset at a low price per unit
- Arcadia School District (buyer to verify)
- Prime value-add apartment deal in Arcadia with excellent rental upside (AB1482 regulations)
- Excellent location nearby Arcadia golf course, and minutes to Santa Anita Mall
- Excellent demographics with ±$113,511 average household income in a one mile radius
- Excellent access to FWY 210, FWY 605, and FWY 10
- Nearby many new PUD developments (LENNAR, KB HOME, etc.) and newer custom homes development
- Extremely attractive garden style apartment with excellent curb appeal, beautifully landscaped
- Large lot size of ±17,977 SF with ample covered parking plus storage space for most of the parking space
- Attractive unit mix with combination of 2bedroom and 1bedroom units
- Each unit is separately metered for electricity and gas, and individual water heater
- Large and spacious units with excellent layout
- Additional 15 storage spaces that can be rented out to bring additional income
The Growth Investment Group is proud to exclusively offer LIVE OAK ARCADIA – 521-523 E Live Oak Ave., a 13-unit garden style apartment investment opportunity located in the City of Arcadia, CA. Built in 1960, the current owner bought it in 1961 which made them only the 2nd owner. Since then, this is the first time this property has ever been offered for sale! Long time owned for 60 years, this presents a rare opportunity for the lucky buyer to acquire this generational apartment community at a much lower price per unit compared to other Arcadia apartments that are currently on the market. This property is located within the prestigious Arcadia School District (buyer to verify).
LIVE OAK ARCADIA is an attractive two-story garden style gated community that was built in 1960. It has a total of 8,640 SF building size and situated on a LARGE lot of ±17,977 SF. Because of this large lot, there is a possibility for new owner to add additional ADU units (buyer to do their own investigations). It offers excellent curb appeal with manicured landscaping, complete with large front yard and back yard with seating area. The property offers an excellent unit mix of four (4) x 2bedroom+1bathroom and nine (9) x 1bedroom+1bathroom. Each unit is spacious with good floor plan. None of the units have been upgraded. Most units have carpet, windows A/C in the living room/kitchen, wall heater, ceiling fans in the kitchen and bedroom, laminate kitchen countertops, tiled bathroom, and individual water heater. Each unit has a large kitchen area with tiled breakfast countertop. Each bedroom has large closet and linen cabinet.
The property has expansive lawn in the front with common area backyard in the back. The backyard area has a mature landscaping and backyard furniture. Parking is provided via 16 carport spaces + 1 open parking. There are 15 private storage room that could bring additional income. Each unit is separately metered for electricity and gas. The property has a shared laundry room (laundry lease). Most tenants in this community are long time tenants that are on month to month and are due for rent increases. Additional significant rental upside can be realized when units turn in the future.
LOCATION AMENITIES AND ACCESS
It is located on a quiet Live Oak Ave in Arcadia, just across from Arcadia Golf Course and minutes away from Santa Anita Mall. The property is located within the highly desirable Arcadia School District (Elementary: Longley Way Elementary, Middle: Dana Middle School, High School: Arcadia High - buyer to verify). It is 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.