The 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, value-add 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. It is a garden style two-story apartment with center courtyard (seller recently filled in the swimming pool). 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 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 filled in swimming pool. Several units have been partially upgraded with new kitchen cabinets; granite kitchen countertops, tiled bathroom, and Pergo laminate flooring.
LOCATION AMENITIES AND ACCESS
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 Vons, LA Fitness, Burlington Coat Factory, Starbucks, Panda Express, Subway 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.
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 is 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.