1311 N Azusa Ave | Azusa, CA 91702
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- LoopNet Team
1311 N Azusa Ave
Azusa, CA 91702
Palm View Apartments · Multifamily Property For Sale
·
36 Units
INVESTMENT HIGHLIGHTS
- Approximately $600K in Capital Improvements Including Complete Exterior and Common Area Renovations and Interior Renovations; 9 of 36 Units Renovated
- Significant Value-Add Opportunity – Approximately 24% Rental Upside through Interior and Exterior Renovations
- The Azusa Rental Market has Remained Strong throughout Covid-19 with Less than a 2.5% Overall Vacancy Rate and Rent Growth throughout the Pandemic
- Excellent Unit Mix Featuring all One and Two Bedroom Floor Plans | Generous Average Unit Size of 803 Net Square Feet
- Offering at 3.60% Cap Rate on Current Income, 5.00% Cap Rate on Market Rents
- Superb Amenities Including On-Site Laundry Facilities, Pool, High Speed Internet Access, Air Conditioning, Ceiling Fans, Cable Ready and Disposal
PROPERTY FACTS
| No. Units | 36 | Lot Size | 1.00 AC |
| Property Type | Multifamily | Building Size | 30,266 SF |
| Property Subtype | Apartment | Average Occupancy | 86% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | C | Year Built | 1961 |
| Zoning | R3C, Azusa | ||
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 30,266 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1961 |
| Zoning | R3C, Azusa |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Disposal
- Storage Space
- Ceiling Fans
- Carpet
- Window Coverings
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
- Laundry Service
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | $1,443 | - |
| 2+1 | 26 | $1,790 | - |
PROPERTY TAXES
| Parcel Number | 8608-001-009 | Improvements Assessment | $6,606,540 |
| Land Assessment | $4,369,680 | Total Assessment | $10,976,220 |
PROPERTY TAXES
Parcel Number
8608-001-009
Land Assessment
$4,369,680
Improvements Assessment
$6,606,540
Total Assessment
$10,976,220
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