Description

Pride-of-ownership 12-unit Value-add in the heart of Arcadia, No Local Rent Control, Excellent unit mix, 2 ADUs Initial plan included, Arcadia School, Convenient location near Santa Anita Mall + Santa Anita Park, shopping + dining, groceries stores, medical offices, schools, library, etc. 833 W Duarte Rd, a Pride-of-ownership 12-unit value-add apartment in the heart of the City of Arcadia, California. There is no local rent control in Arcadia, thus providing maximum upside potential (under California AB1482 – up to 10% maximum annual rent increase). This property is located within the prestigious Arcadia Unified School District. It offers excellent demographics of ±$132,826 average household income within a mile radius! The sale includes initial drawing for 2 additional ADUs to be built above the carport area (not approved – buyer to continue the permitting process). The property is a well maintained 2 story garden style apartments with a center courtyard. The courtyard area used to be a swimming pool that had been filled up with permits. The property has a total of situated on a large 16,481 square feet lot and was built in 1960. It is a garden style two-story apartment with a center courtyard (there was a swimming pool that was filled in - with permits). 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 2 ADUs plan are to build above the carport – by the sundeck area. Each unit is sizable with a functional layout. Several units have been fully upgraded with modern upgrades such as new luxury wood vinyl flooring, granite kitchen countertops, tiled bathroom, and shower door. The property is separately metered for electricity and gas, windows A/C, wall heater, and individual water heater. There are a 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. Arcadia does not have any parking soft story retrofit is requirement. The property has undergone many recent capital improvements which include new exterior painting, new parking gate, new entrance gate, dual pane windows throughout, complete upgrades of several units, and filled in swimming pool.