865855,875 W Huntington DR

ARCADIA, CA, 91007

$17,300,000

$494 per ft²
$17,300,000
$494 per ft²
Pending
Pending
 - For Sale
carpenters-square
34,972 ft²
property_type
Multi-family
calendar
Built 1954
ATLAS 855, 865, and 875 W Huntington Drive, an attractive 42-unit value-add apartment community located in the highly desirable City of Arcadia, CA. This offering presents an extremely rare opportunity for investors to acquire one of largest apartment community in north Arcadia, CA (CLASS A Location in San Gabriel Valley). The property has been upgraded and many important CAPEX has been completed in the past 6-7 years. It is not under any local rent control and there is an approximately 14% rental upside. The property is extremely unique due to its size and superb location. It is just a block away from the highly popular Arcadia Santa Anita Mall and Arcadia Santa Anita Racetrack, providing unparalleled access to some of the main attractions in the West San Gabriel Valley submarket. It is within walking distance to the Los Angeles County Arboretum (on Baldwin Ave.), and plethora of restaurants, stores, and other retailers along Baldwin Ave. The property is located within the prestigious and desirable Arcadia Unified School District and enjoys superb demographics of $106,301 average household incomes within a 1-mile radius. It is surrounded by newer townhomes on its east and west side, and single-family residential community on its north side (ARCADIAN tract of Arcadia). ATLAS is situated on triple lot totaling 55,503 sf R3 lot and has a total of 34,972 sf of building area. It was built in 1953 and has undergone continuous improvements in the past 8 years. Each lot has 1 building with this breakdown: #855 - 10 units, #865 22 units, and #875 10 units. It offers an excellent unit mix with one (1) 3 bedrooms + 2 bathrooms, four (4) LARGE 2bed+ 1bath, fifteen (15) 2bed+1 bath, and twenty-two (22) large 1 bed+1bath units. The property has a fenced swimming pool with new outdoor pool furniture, barbeque area, new landscaping, 3 shared laundry rooms (laundry leased), and carport parking in the back. Due to its oversized lot, the property has a total of 66 parking spaces (only 62 is required) with 36 carports, 3 garage spaces, 2 unmarked spaces and 25 open parking spaces in front of the buildings. Each unit is separately metered for electricity and gas (recently installed seismic gas shutoff valve).
MLS® ID:
AR22040730MR
Listed:
2/28/22
Updated:
8/9/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Community, Laundry Area
Fireplace
Living Room
Cooling
Wall/Window Unit(s)
Heating
Central, Wall

Exterior/Building Features

Lot Size
1.27 acres lot
Sewer
Public Sewer

Other Property Details

Garage
Yes
Garage Spaces
3
Parking
Assigned, Carport, Circular Driveway, Driveway
Parking Total
66.0
View
Y
County
Los Angeles
Water Source
Public
Pool
Yes
Pool Description
In Ground
Total Stories
2
Zoning
ARR3*

Property History

Date
Event
Price
Value
3/15/22
Pending
-
-
Contact