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Multifamily

818 W Huntington Dr

818 W Huntington Dr, Arcadia, CA 91007

Listing Price: $4,750,000

Cap Rate
3.42%
Number of Units
12
Occupancy
100.0%
Price/Unit
$395,833

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 818 West Huntington Drive in the city of Arcadia, California. The offering consists of eleven plus one non-conforming condominiums with separate APNs within a twenty-unit complex. The property is a two-story building constructed in 1959 with a building size of 8,558 square feet and a lot size of 21,572 square feet. The property has an excellent unit mix of two studio/one-bathroom floor plans, four one-bedroom/one-bathroom floor plans, and six two-bedroom/one-bathroom floor plans. The condominiums feature wall units for heating and air conditioning, and there is an open green belt area in the center of the property for residents enjoyment. Select units have been upgraded with laminate flooring, granite countertops, dishwashers, and mirror closet doors. All condominiums have dual-pane windows. The property is separately metered for gas, electricity, water and offers an on-site laundry facility. There are individual hot water heaters, eleven carport parking spaces with storage bins, and six open parking spaces. The association pays for common area maintenance, Insurance, common area gas, electricity, water, and trash. The subject property is located on the south side of Huntington Drive just west of Baldwin Avenue, two of the principal thoroughfares in the city of Arcadia with a average daily traffic count of 39,499, and with easy access to the Interstate 210 freeway and California Highway 19 which takes commuters west to Los Angeles and east to cities in the Inland Empire. The property is centrally located with countless restaurants, shopping centers, department and grocery stores within a two-mile radius, including Westfield Santa Anita Mall, 99 Rancho Market, H Mart, Vons, and CVS. In addition, the city of Arcadia also offers multiple outdoor recreations such as the Santa Anita Racetrack, Los Angeles Arboretum and Botanical Gardens, and Santa Anita Golf Course. Finally, Arcadia Unified School District is ranked in the top 1% for best school district with the best teachers in Los Angeles, California, and America in several local and national rankings.

Investment Highlights

  • Seller Financing Available at 4.50% Interest Only
  • Outstanding Arcadia Location – High Barrier to Entry
  • Eleven Plus One Non-Confirming Condominiums Within a 20-Unit Complex
  • Excellent Mix of Studio, One and Two Bedrooms
  • Upgraded Interiors in Selected Units
  • Future Up-Side to Sell Condominium Separately
  • Individual Hot Water Heaters / Individually Metered for Gas, Electricity, Gas & Water
  • Average Household Income Over $137,000 Within A Three-Mile Radius

Exclusively Listed By

Financing By

Multifamily

818 W Huntington Dr

Listing Price: $4,750,000

Cap Rate
3.42%
Number of Units
12
Occupancy
100.0%
Price/Unit
$395,833

Investment Highlights

  • Seller Financing Available at 4.50% Interest Only
  • Outstanding Arcadia Location – High Barrier to Entry
  • Eleven Plus One Non-Confirming Condominiums Within a 20-Unit Complex
  • Excellent Mix of Studio, One and Two Bedrooms
  • Upgraded Interiors in Selected Units
  • Future Up-Side to Sell Condominium Separately
  • Individual Hot Water Heaters / Individually Metered for Gas, Electricity, Gas & Water
  • Average Household Income Over $137,000 Within A Three-Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 818 West Huntington Drive in the city of Arcadia, California. The offering consists of eleven plus one non-conforming condominiums with separate APNs within a twenty-unit complex. The property is a two-story building constructed in 1959 with a building size of 8,558 square feet and a lot size of 21,572 square feet. The property has an excellent unit mix of two studio/one-bathroom floor plans, four one-bedroom/one-bathroom floor plans, and six two-bedroom/one-bathroom floor plans. The condominiums feature wall units for heating and air conditioning, and there is an open green belt area in the center of the property for residents enjoyment. Select units have been upgraded with laminate flooring, granite countertops, dishwashers, and mirror closet doors. All condominiums have dual-pane windows. The property is separately metered for gas, electricity, water and offers an on-site laundry facility. There are individual hot water heaters, eleven carport parking spaces with storage bins, and six open parking spaces. The association pays for common area maintenance, Insurance, common area gas, electricity, water, and trash. The subject property is located on the south side of Huntington Drive just west of Baldwin Avenue, two of the principal thoroughfares in the city of Arcadia with a average daily traffic count of 39,499, and with easy access to the Interstate 210 freeway and California Highway 19 which takes commuters west to Los Angeles and east to cities in the Inland Empire. The property is centrally located with countless restaurants, shopping centers, department and grocery stores within a two-mile radius, including Westfield Santa Anita Mall, 99 Rancho Market, H Mart, Vons, and CVS. In addition, the city of Arcadia also offers multiple outdoor recreations such as the Santa Anita Racetrack, Los Angeles Arboretum and Botanical Gardens, and Santa Anita Golf Course. Finally, Arcadia Unified School District is ranked in the top 1% for best school district with the best teachers in Los Angeles, California, and America in several local and national rankings.

Exclusively Listed By

Financing By

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