1116 1118 W Duarte Road, Arcadia, CA 91007

About this property

First Time For Sale Since 1977! 1116-1118 W Duarte Rd., an exceptional investment opportunity in the highly sought-after city of Arcadia, California. This property is being offered for sale for the first time since 1977, making it an extraordinary find for astute investors seeking stable income and long-term appreciation potential in a mature and one of the most desirable locations in San Gabriel Valley. The property is unique and rare; a ranch style pride-of-ownership single-story property with a 3bed+2bath house in the back and five 2bed+1bath apartments. It is in the heart of the City of Arcadia, and does not have any local rent control, providing maximum flexibility and rent increases capabilities (under California AB1482). 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 ±$123,546 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 is situated on a large 16,086 square feet lot (R3 zoned) and was built in 1960. It is a single-story bungalow style apartment with an excellent unit mix of one (1) x 3bedroom+2bathroom house in the back, and five (5) x 2bedroom+1bathroom units. The back house has been upgraded in 2008, has its own laundry hookups and machines, central HVAC, and has semi-private front patio area. Each of the remaining 5 units has its own private patio. The property has double pane windows throughout and a shared laundry room (laundry lease). The property is separately metered for electricity and gas, windows A/C, wall heater, and individual water heater. There is a total of 11 parking spaces which are provided by 6 detached carports in the back and 5 open spaces. The large lot provides clear opportunity for future development, condo conversions or for Additional Dwelling Units (ADU).

Listing description from the August 2023 sale, as reported to CRMLS.

Sale history

$2,880,000

Sold August 2023 · on market July 2023 · MLS #AR23118910 · Source: CRMLS

Listing Agent: Han Chen · Listing Office: Growth Investment Group Pasade · Contact: 626-594-4900 · Bought with: Handoko Chen · GIG Real Estate Inc.

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