INVESTMENT HIGHLIGHTS
- Superb location in a highly desirable city of Arcadia; located within Arcadia Unified School District
- 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
- Strong Demographics with over $86,000 average HH income within 1-1/2mile radius
- Good unit mix with rental upside potential; NON rent controlled
- Pride of ownership property with very well maintained units
- Priced competitively to sell quickly
- Minutes away from multiple new developments (townhomes, condominiums and multimillion dollars single family residential)
PROPERTY HIGHLIGHTS
- Separately metered for gas and electricity,
- Windows A/C, swimming pool, laundry facility, secured parking area, individual water heater in each unit
- Some units (±7units) have been upgraded with new kitchen cabinets, granite countertops kitchen, tiled bathroom, pergo laminate flooring
- Recent capital improvements: new exterior painting, double pane windows throughout
- Large lot size with sufficient parking spaces
EXECUTIVE SUMMARY
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, 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-storyapartment 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 squarefeet), 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.
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 recently painted exterior. Several units have been upgraded with new kitchen cabinets, granite kitchen countertops, tiled bathroom, and Pergo laminate flooring.
LOCATION AND AREA AMENITIES
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 Pavilions, LA Fitness, Burlington Coat Factory, Jo-Ann, Starbucks, Panda Express, 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.
* Unit sizes are estimates only! Buyer to perform their own investigations pertaining to unit sizes.
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, a community hospital is located 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.