NOT LISTED FOR SALE

1018 Arcadia Ave Arcadia, CA 91007

30 Beds
30 Baths
-- Sq Ft
0.43 Acres

Last Sold May 22, 2023

Last sale price $6,785,000

45 Days on Market

Highlights

  • Golf Course Community
  • Primary Bedroom Suite
  • Cathedral Ceiling
  • Baldwin Stocker Elementary School Rated A+
  • Dual Staircase
  • Balcony

About This Home

As of May 2023

This is a rare opportunity to own a 10 units condo style property located in the heart of Arcadia that is known for its excellent school district. The complex is within the proximity of all the living conveniences, shopping mall, market, freeway, and restaurants just to name a few. All units have 3 bedrooms, 2 1/2 bathrooms, and an attached 2-car garage on the ground level with automatic operating door and stairs access to the front door. The first floor features a kitchen with built-in appliances and refrigerator, separate dining area, bright living room with fireplace, and a 1/2 bath. The second floor features a skylight at the stairway, a master bedroom suite, 2 additional bedrooms share a full bath with stacked washer and dryer tucked inside. There are two buildings on the property. The front building has 8 units of approximately 1350 square feet that were almost identical in floor plans and all have an entrance with a gardening area and balconies off the living room and master bedroom. The back building houses two units of approximately 1100 square feet each and with private front patios. The complex also offers 4 guest parking spaces and has well-designed evening lighting for the safety and enjoyment of the tenants. The owner may elect to a 1031 exchange.

Last Agent to Sell the Property

Li Sy

Coldwell Banker Realty License #00574402 Listed on: 03/13/2023

Coldwell Banker Realty

Co-Listed By

Marianna Wu

Marianna Wu License #00822989

Last Buyer's Agent

Wen Luo

Pacific One Realty Inc. License #01990582

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1988 | Remodeled

Lot Details

  • 0.43 Acre Lot
  • No Common Walls
  • Vinyl Fence
  • Block Wall Fence
  • Front Yard

Parking

  • 20 Car Garage
  • 4 Attached Carport Spaces
  • Parking Available
  • Side Facing Garage
  • Single Garage Door
  • Garage Door Opener
  • Driveway Down Slope From Street
  • Shared Driveway
  • Guest Parking

Home Design

  • Split Level Home
  • Turnkey

Interior Spaces

  • 3-Story Property
  • Dual Staircase
  • Built-In Features
  • Cathedral Ceiling
  • Recessed Lighting
  • Electric Fireplace
  • Living Room with Fireplace
  • Sump Pump

Kitchen

  • Built-In Range
  • Range Hood
  • Dishwasher

Bedrooms and Bathrooms

  • 30 Bedrooms
  • All Upper Level Bedrooms
  • Primary Bedroom Suite
  • 30 Bathrooms

Laundry

  • Laundry Room
  • Stacked Washer and Dryer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Balcony

Utilities

  • Central Heating and Cooling System
  • Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 1
  • Assessor Parcel Number 5783001032

Community Details

Overview

  • 2 Buildings
  • 10 Units

Recreation

  • Golf Course Community

Building Details

  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • Electric Expense $909
  • Gardener Expense $2,400
  • Insurance Expense $9,562
  • Maintenance Expense $20,000
  • Other Expense $995
  • Trash Expense $4,390
  • Water Sewer Expense $3,648
  • New Taxes Expense $87,575
  • Operating Expense $130,485
  • Gross Income $352,596
  • Net Operating Income $222,111

Property Details

Home Type

Multi-Family

Year Built

Built in 1988 | Remodeled

Lot Details

0

Parking

20

Listing Details

  • Assessments: No
  • CapRate: 2.87
  • Property Attached: No
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 3648.00
  • Zoning: ARR3*
  • Property Condition: Updated/Remodeled, Turnkey
  • Property Type: Residential Income
  • Gardener Expense: 2400.00
  • Parcel Number: 5783001032
  • Year Built: 1988
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: 2 Staircases, Balcony, Sump Pump, Recessed Lighting, Cathedral Ceiling(s), Built-in Features
  • Stories: 3
  • Common Walls: No Common Walls
  • Appliances: Yes
  • Fireplace Features: Electric, Living Room
  • Levels: Multi/Split
  • Room Type: All Bedrooms Up, Kitchen, Master Suite, Living Room

Exterior Features

  • Fence: Yes
  • Fencing: Block, Vinyl
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 4.00
  • Garage Spaces: 20.00
  • Parking: Yes
  • Parking Features: Attached Carport, Driveway Down Slope From Street, Shared Driveway, Garage Door Opener, Guest, Garage Faces Side, Garage - Single Door
  • Total Parking Spaces: 24.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Built-In Range, Water Heater, Range Hood, Refrigerator
  • Heating Type: Central
  • Laundry Features: Dryer Included, Washer Included, Stackable
  • Sewer: Public Sewer
  • Trash Expense: 4390.00
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Golf, Sidewalks

Lot Info

  • Land Lease: No
  • Lot Features: Front Yard
  • Lot Size Sq Ft: 18730.80
  • Lot Size Acres: 0.4300

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 909.00
  • Gross Income: 352596.00
  • Gross Scheduled Income: 352596.00
  • Insurance Expense: 9562.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 0.4300 Acres
  • Maintenance Expense: 20000.00
  • Net Operating Income: 222111.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Units Total: 10
  • Number With Dishwasher: 10
  • Number With Refrigerator: 10
  • Operating Expense: 130485.00
  • Other Expense: 995.00
  • Rent Control: No
  • Total Expenses: 130485.00

Tax Info

  • New Taxes Expense: 87575.00
  • Tax Lot: 1

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/22/2023 05/22/23 Sold $6,785,000 -12.5% --
04/27/2023 04/27/23 Pending -- -- --
03/13/2023 03/13/23 For Sale $7,750,000 -- --
Source: Pasadena-Foothills Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $78,290 $7,059,114 $4,161,600 $2,897,514
2024 $78,290 $6,920,700 $4,080,000 $2,840,700
2023 $49,020 $4,225,479 $2,957,838 $1,267,641
2022 $47,406 $4,142,628 $2,899,842 $1,242,786
2021 $46,492 $4,061,401 $2,842,983 $1,218,418
2019 $45,370 $3,947,079 $2,758,659 $1,188,420
2018 $44,260 $3,869,807 $2,704,568 $1,165,239
2016 $43,270 $3,713,639 $2,599,548 $1,114,091
2015 $42,516 $3,657,858 $2,560,501 $1,097,357
2014 $41,946 $3,586,207 $2,510,345 $1,075,862
Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2023

    Li Sy

    Coldwell Banker Realty

    Section Image

  • M

    Seller Co-Listing Agent in 2023

    Marianna Wu

    Marianna Wu

    (626) 573-3336

    2 in this area

    3 Total Sales

    Marianna Wu
    Section Image

  • W

    Buyer's Agent in 2023

    Wen Luo

    Pacific One Realty Inc.

    (626) 618-7100

    3 in this area

    29 Total Sales

    Wen Luo
    Section Image
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Map

Source: Pasadena-Foothills Association of REALTORS®

MLS Number: P1-12898

Pasadena-Foothills Association of REALTORS®
California Los Angeles County Arcadia 91007

1018 Arcadia Ave, Arcadia, CA

Not Listed for Sale

MultiFamily

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