NOT LISTED FOR SALE

1041 W Arrow Hwy Azusa, CA 91702

South Azusa Neighborhood
0.61 Acre
-- Price per Acre
26,650 Sq Ft Lot

Last Sold December 07, 2020

Last sale price $1,550,000

8 Days on Market

Highlights

  • 0.61 Acre Lot
  • Property is near public transit
  • Wrought Iron Fence
  • Mountain View
  • No HOA
  • Rectangular Lot

About This Lot

As of December 2020

**Attention developers, investors, and contractors** Property currently in operation as used car dealership w/ land ripe for development opportunity for any type of residential, commercial, or mixed use. Plans have been submitted to City of Azusa & have preliminary approval to build a 15 unit residential condominium project w/ 5 different 3 story floor plans totaling 24,245 sf to include 2,782 sf of private open space (balconies) & 1,475 sf of common open space. City will allow up 16 units should eventual Buyer request for an additional unit. Zoning is Arrow Hwy Corridor (CAH). Perfect for new trend of hybrid “Build to rent or Build to sell” ground up development project. Sellers will work w/ Buyer toward the land entitlement. Current proposed site map has a tentative tract map. Current comps support a total valuation of projected sell out at 8+ million dollars for all 15 units as proposed. Proposed floor plans range from smallest (1,255 sf) 2 bedroom 2.5 bathrooms, private laundry, 2 car garage to largest (1,915 sf) 4 bedroom 4 bathroom, private laundry, 2 car garage. Please review site plan for floor plans. Current proposed plans are conceptual and eventual buyer can make changes to design, building footprint, bedroom bathroom count to suit their own needs as plans are not set in stone at City.
Property offers an abundance of other opportunity due to prime location on Arrow Hwy. For development, can be used for quick serve restaurants w/ drive thru or a car wash 4 example.

Last Agent to Sell the Property

Oscar Trejo Jr.

Sell My Home Real Estate License #01253162 Listed on: 01/11/2020

Co-Listed By

Shawn Luong

eXp Realty of Greater Los Angeles License #00857818

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $22,371

Lot Details

  • 0.61 Acre Lot
  • Lot Dimensions are 240.17x110.08
  • Property fronts a highway
  • Wrought Iron Fence
  • Rectangular Lot
  • Paved or Partially Paved Lot
  • Level Lot
  • 8619016044
  • Property is zoned LCC2YY

Property Views

  • Mountain Views

Location

  • Property is near public transit
  • Suburban Location

Listing and Financial Details

  • Tax Lot 3
  • Assessor Parcel Number 8619016045

Community Details

Overview

  • No Home Owners Association

Recreation

  • Exterior Lighting

Property Details

Property Type

Land

Est. Annual Taxes

$22,371

Lot Details

0

Listing Details

  • Current Use Comments: Currently being used as a used car dealership.
  • Other Phone Description: Shawn Luong
  • Other Phone Number: 626-643-7090
  • Possible Use Comments: Multiple possible uses, eventual Buyer to confirm with City planning department. Multi-Family (preliminary approval to build 15 units, 16 possible)...
  • Road Frontage Type: City Street, Highway
  • Road Surface Type: Maintained, Paved
  • View: Yes
  • Zoning: LCC2YY
  • Property Type: Land
  • Parcel Number: 8619016045
  • Special Features: None
  • Property Sub Type: LotsLands

Interior Features

  • Price Per Square Foot: 58.16

Exterior Features

  • View: Mountain(s)
  • Fencing: Wrought Iron

Utilities

  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights, Suburban

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 8619016044
  • Land Lease: No
  • Lot Features: Lot 20000-39999 Sqft, Rectangular Lot, Level, Near Public Transit, Paved
  • Lot Size: 240.17x110.08
  • Lot Size Sq Ft: 26652.00
  • Usable Land Percent: 100
  • Lot Size Acres: 0.6118

Multi Family

  • Lot Size Area: 26652.0000 Square Feet

Tax Info

  • Tax Census Tract: 4045.01
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 11, 2020
Closed on
Nov 9, 2020
Sold by
Ghomeshi Reza and Ghomeshi Hadi A
Bought by
1438 Slauson Llc
Seller's Agent
Oscar Trejo Jr.
Sell My Home Real Estate
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$1,670,000
Sold Price
$1,550,000
Premium/Discount to List
-$120,000
-7.19%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Outstanding Balance
$889,858
Interest Rate
2.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 24, 1995
Sold by
Khalaf Elias S
Bought by
Khalaf Elias S and Khalaf Maysoon E

Purchase Details

Closed on
Jul 28, 1995
Sold by
Khalaf Maysoon
Bought by
Khalaf Elias S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
7.62%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jun 29, 1995
Sold by
Neper Thomas and Neper Bonnie
Bought by
Khalaf Elias S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
7.62%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

Collateral Analytics

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
1438 Slauson Llc $1,550,000 First American Title Co
Ghomeshi Hadi A -- First American Title Co
Khalaf Elias S -- --
Khalaf Elias S -- First American Title Co
Khalaf Elias S $375,000 First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1438 Slauson Llc $1,000,000
Previous Owner Khalaf Elias S $350,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/07/2020 12/07/20 Sold $1,550,000 -7.2% --
01/19/2020 01/19/20 Pending -- -- --
01/11/2020 01/11/20 For Sale $1,670,000 -- --
Source: California Regional Multiple Listing Service (CRMLS)

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 $22,371 $1,534,887 $1,524,063 $10,824
2024 $22,371 $1,504,792 $1,494,180 $10,612
2023 $21,769 $1,475,287 $1,464,883 $10,404
2022 $21,499 $1,446,360 $1,436,160 $10,200
2021 $17,406 $1,418,000 $1,408,000 $10,000
2020 $6,351 $457,401 $443,078 $14,323
2019 $6,220 $448,434 $434,391 $14,043
2018 $5,499 $439,642 $425,874 $13,768
2016 $5,324 $422,573 $409,338 $13,235
2015 $5,260 $416,227 $403,190 $13,037
2014 $4,946 $408,075 $395,293 $12,782
Source: Public Records

Agents Affiliated with this Home

  • Oscar Trejo Jr.

    Seller's Agent in 2020

    Oscar Trejo Jr.

    Sell My Home Real Estate

    (626) 695-4452

    1 in this area

    33 Total Sales

    Oscar Trejo Jr.
    Section Image
  • Shawn Luong

    Seller Co-Listing Agent in 2020

    Shawn Luong

    eXp Realty of Greater Los Angeles

    (626) 643-7090

    1 in this area

    43 Total Sales

    Shawn Luong
    Section Image

  • N

    Buyer's Agent in 2020

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    3 in this area

    5,927 Total Sales

    NoEmail NoEmail
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV20007569

California Regional Multiple Listing Service (CRMLS)

APN: 8619-016-045

California Los Angeles County Azusa 91702 South Azusa

1041 W Arrow Hwy, Azusa, CA

This home is located at 1041 W Arrow Hwy, Azusa, CA 91702 since 11 January 2020. 1041 W Arrow Hwy is a home located in Los Angeles County with nearby schools including Valleydale Elementary School, Gladstone High School, and Christbridge Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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