601 Windsor Road

    Arcadia, CA 91007
    • $1,890,000
    • STATUS: Closed
    • ON SITE: 229 days
    • ID#: CV18103230
    Sold - 09/24/2018
    $1,890,000
    SOLD - 09/24/2018
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,388
      SQFT
    • $431
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    EXTREMELY WELL MAINTAINED 5 UNIT APARTMENT COMPLEX IN A PRIME ARCADIA LOCALE. Current rents are all below market leaving tremendous upside for a new owner who has owned the building since 1984. The total gross income annually is currently at $89,430 and the potential with rent increases is $117,600 which would offer a 5% CAP rate. The numbers include profit on the leased laundry which is only calculated at $40 per month, additional units could be added. All units have been remodeled throughout including new flooring, crown and base moldings, updated kitchens, remodeled bathrooms and more. The buildings exterior is in excellent condition offering a brick skirting around the front, new dual paned windows, shutters, rain gutters, exterior lighting, a newer roof and manicured with professionally landscaped grounds. Five covered parking spots, each with personal storage spaces in front of the units and 3 uncovered parking spaces. Interior photos of the units are shown in the photo slideshow.

    Sold by Marina Ramirez-Lopez of Century 21 Excellence.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-19T00:28:14.773. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/83190120

    601 Windsor Road Arcadia, CA 91007

    • Price: $1,898,800
    • Status: Closed
    • Updated: 27 min ago
    • ID#: CV18103230
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    4,388
    SQFT
    $431
    $/SQFT
    1962
    Built
    Neighborhood:
    605 - Arcadia
    County:
    Los Angeles
    Area:
    605 - Arcadia
    Property Description
    EXTREMELY WELL MAINTAINED 5 UNIT APARTMENT COMPLEX IN A PRIME ARCADIA LOCALE. Current rents are all below market leaving tremendous upside for a new owner who has owned the building since 1984. The total gross income annually is currently at $89,430 and the potential with rent increases is $117,600 which would offer a 5% CAP rate. The numbers include profit on the leased laundry which is only calculated at $40 per month, additional units could be added. All units have been remodeled throughout including new flooring, crown and base moldings, updated kitchens, remodeled bathrooms and more. The buildings exterior is in excellent condition offering a brick skirting around the front, new dual paned windows, shutters, rain gutters, exterior lighting, a newer roof and manicured with professionally landscaped grounds. Five covered parking spots, each with personal storage spaces in front of the units and 3 uncovered parking spaces. Interior photos of the units are shown in the photo slideshow.
    Exterior Features

    Carport Spaces 5.00 Construction Materials Stucco Fence YN Yes Fencing Block Foundation Details Slab Garage Spaces 0.00 Lot Features Front YardLandscapedLawn Lot Size Source Assessor Lot Size Units Square Feet Parking Features AssignedCarport Attached Parking Total 11.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Roof Composition View Neighborhood View YN Yes

    Interior Features

    Appliances Garbage Disposal Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall Window Cooling YN Yes Fireplace Features Family Room Fireplace YN Yes Flooring LaminateTile Heating Wall Heater Heating YN Yes Laundry Features CommunityIndividual Room Levels Two Window Features Double Pane Windows

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.18 Community Features CurbsSidewalks Country Us Electric Expense 840.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 1440.00 Gross Income 89430.00 Gross Multiplier 21.23 Gross Scheduled Income 89430.00 Insurance Expense 3000.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 480.00 Laundry YN Yes Net Operating Income 60265.00 New Taxes Expense 23735.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 5 Number Wall AC 5 Number With Disposal 5 Number With Range 5 Operating Expense 29165.00 Professional Management Expense 0.00 Property Condition TurnkeyUpdated/Remodeled Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tax Annual Amount 24997.00 Tax Rate 1.25 Taxes Percent 1.25 Total Actual Rent 88800.00 Total Expenses 29165.00 Trash Expense 0.00 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 150.00 Water Source Public Year Built Source Assessor Zoning Arr3yy

    Listing provided courtesy of Nicholas Abbadessa of Re/Max Masters Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-19T00:28:14.773. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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