$2,800,000
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0.28 Acres Lot
SOLD DATE : 03/30/2022
Key Details
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV22005658
Sold Date 03/30/22
HOA Y/N No
Year Built 1963
Lot Size 0.280 Acres
Property Description
We are proud to exclusively present the opportunity to acquire 525 North San Gabriel Avenue, a 10-unit investment opportunity located in the desirable city of Azusa, California. Built in 1963, the property sits on a 12,257 square foot parcel and has a building size of 8,318 square feet. The building consists of two-one bedroom/one bathroom floorplans of approximately 650 square feet and eight-two bedroom/one bathroom floorplans of approximately 877 square feet. Parking consists of fifteen single car garages accessible by way of a rear alley. The property features newer vinyl windows, copper plumbing and drought resistant landscaping. Select units feature private balconies/patios and all units are individually metered for gas and electricity and have individual hot water heaters.
The property is located approximately one half mile from Azusa Pacific University and Citrus College and is ideally situated with easy access to Route 210. Because of its central location and proximity to Downtown Los Angeles, the city is well served by the Azusa Downtown Gold Line, providing its residents many alternative ways of traveling to work, entertainment, dining, shopping, and home. In addition to the city's progressive economy, business opportunity, restaurants and recreation, the property is an excellent opportunity for an investor looking to acquire a well-kept asset with over 44% rental upside in an outstanding location poised for continued growth.
Location
State CA
County Los Angeles
Area 607 - Azusa
Zoning AZC2YY
Interior
Fireplace No
Laundry None
Exterior
Parking Features Door-Single, Garage
Garage Spaces 15.0
Garage Description 15.0
Pool None
Community Features Sidewalks
Total Parking Spaces 15
Private Pool No
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 8611006008
Energy Description 1543.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with ERIC CHEN • CB RICHARD ELLIS