Active

1132 W Duarte Road

Arcadia CA, 91007

$9,000,000


$463.15 per sqft

Active

19,432 sqft

Condo

Built in 1962

Listed by Han Chen with Growth Investment Group Pasade 626-594-4900

Priced at 6% Proforma CAP Rate and Low Price/SF for the area, A Pride-of-Ownership value-add investment opportunity in the highly sought-after city of Arcadia (NO Local Rent Control). Offered at a high CAP Rate and 6% Proforma CAP Rate, this property is being offered for sale for the first time since 1986. The property is a garden style pride-of-ownership 2-story property with an excellent unit mix of mostly oversized 3bedrooms units and several large 1bedroom units.

It is located within the highly desirable Temple City School District and surrounded by many newer townhouses and condominiums and offers an excellent demographics of +-$123,449 average household income within a mile radius! Tenants enjoy its proximity to Santa Anita Mall and Santa Anita Park and its walking distance to school, shopping, groceries, and other amenities both Arcadia and Temple City have to offer.

The property has a total of 19,432 SF building size which translates to +-971sf average unit size, is situated on a large 30,379 square feet lot (R3 zoned) and was built in 1962. It has been very well maintained without any known deferred maintenance; it has a brand-new roof (replaced in 2021), well-manicured landscaping, fenced swimming pool, and security cameras system. It offers an excellent unit mix of ten (10) x 3bedroom+2bathroom, two (2) x 3bedroom+1bathroom, and eight (8) x large 1bedroom+1bathroom units. Each unit is large and bright with central heating, windows A/C, and ceiling fans. Some units have upgraded kitchen and upgraded bathroom. Four units have private patio, and two units have small private backyard.

The property is separately metered for electricity and gas, has a master water heater, and shared laundry room (leased). There is a total of 30 parking spaces which are provided by 10 open spaces + 13 detached carport spaces + 7 tuck-under parking. There is an additional parking space that has been converted into the owner's storage room and a 2nd storage room near the laundry area. The large lot provides clear opportunity for future development, condo conversions or for Additional Dwelling Units (ADU).

AR24030166

MLS ID

February 12, 2024

Listed

July 14, 2024

Updated

Map

1132 W Duarte Road
Arcadia CA, 91007

Interior Features

Total Stories

2


Laundry Description

Common Area


Fireplace

No


Fireplace Description

None


Cooling

Yes


Cooling Description

Wall/Window Unit(s)


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.7 Acres


Lot Features

Landscaped, Level, Near Public Transit, Rectangular Lot


Roof

Asbestos Shingle


Sewer

Public Sewer

Other Property Details

Area Name

605 - Arcadia


Days on Market

116


Garage

No


Parking

Assigned, Asphalt, Driveway


Parking Total

30


View

Yes


View Description

Mountain(s)


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

Community


Zoning

ARR3YY

Listing History

Date

Event

Price

4/30/2024

Price Change

$9,000,000

-3%

Listing Contact: 626-594-4900 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/14/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 7/14/2024 at 6:31 AM UTC

 

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