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1381 N San Gabriel Canyon Road

Azusa, CA 91702
  • $11,500,000
  • STATUS: Active
  • ON SITE: 23 Days
  • ID#: CV21219195
UPDATED: 104 min ago
$11,500,000
  • 0
    BEDS
  • 1.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1962
County:
Area:

School Ratings & Info

Description

The Riviera Apartments located at 1381 N San Gabriel Canyon Road in the city of Azusa. May also be purchased together or separately with the Palm View Apartments located at 1311 N Azusa Avenue in the city of Azusa. Situated one parcel from one another, the Riviera Apartments and the Palm View Apartments are on the same block between Sierra Madre Avenue and E 13th Street. Both properties provide easy access to Azusa Pacific University, Downtown Azusa, the 210 Freeway, and the Metro Gold Line Station. The properties are within minutes to plenty of diverse restaurants, shopping, and world class educational institutions. Located in the heart of the San Gabriel Valley, Azusa is a charming LA suburb regarded for its pervasive natural beauty and exceptional opportunities for outdoor recreation. Nicknamed "the Canyon City, Azusa sits at the entrance to the San Gabriel Canyon. The San Gabriel Mountains are also visible throughout much of the city. In addition to the canyons and mountains, Azusa residents enjoy access to a host of scenic parks and trails, including the nearby Santa Fe Dam Recreation Area. The city of Azusa is ideally located by offering convenient access to the neighboring cities within the San Gabriel Valley, Los Angeles County and San Bernardino County. It is less than 30 miles from LAX and is conveniently positioned within minutes to the I-210 and I-10 freeways with just a short drive way from Downtown Los Angeles and Pasadena. Significant local landmarks within a 20-mile radius include: The Huntington Library, The Rose Bowl, Dodger Stadium, The Staples Center, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios, and more. The Riviera Apartments in Azusa is a well-maintained, newly renovated 2-story, 36-unit property built in 1962. The Property is situated on one parcel, a total of 1.275 acres of land and a total building size of 31,430 square feet. It features a unit mix of one-bed/one-bathroom, two-bed/one-bathroom, and two-bed/ two-bathroom units averaging 873 gross square feet per unit. The units feature high-speed Internet access, air conditioning, ceiling fans, wall-to-wall carpet and window coverings. The building features on-site laundry, covered parking and a pool with mature landscaping. The property is in a highly desirable area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T00:26:54.393. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
www.theparsonsrealestateteam.com/homes/122032979
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1381 N San Gabriel Canyon Road Azusa, CA 91702

  • Price: $11,500,000
  • Status: Active
  • Updated: 104 min ago
  • ID#: CV21219195
0
Beds
0
Baths
0
½ Baths
1.27
Acres
1962
Built
Neighborhood:
607 - Azusa
County:
Los Angeles
Area:
607 - Azusa
Property Description
The Riviera Apartments located at 1381 N San Gabriel Canyon Road in the city of Azusa. May also be purchased together or separately with the Palm View Apartments located at 1311 N Azusa Avenue in the city of Azusa. Situated one parcel from one another, the Riviera Apartments and the Palm View Apartments are on the same block between Sierra Madre Avenue and E 13th Street. Both properties provide easy access to Azusa Pacific University, Downtown Azusa, the 210 Freeway, and the Metro Gold Line Station. The properties are within minutes to plenty of diverse restaurants, shopping, and world class educational institutions. Located in the heart of the San Gabriel Valley, Azusa is a charming LA suburb regarded for its pervasive natural beauty and exceptional opportunities for outdoor recreation. Nicknamed "the Canyon City, Azusa sits at the entrance to the San Gabriel Canyon. The San Gabriel Mountains are also visible throughout much of the city. In addition to the canyons and mountains, Azusa residents enjoy access to a host of scenic parks and trails, including the nearby Santa Fe Dam Recreation Area. The city of Azusa is ideally located by offering convenient access to the neighboring cities within the San Gabriel Valley, Los Angeles County and San Bernardino County. It is less than 30 miles from LAX and is conveniently positioned within minutes to the I-210 and I-10 freeways with just a short drive way from Downtown Los Angeles and Pasadena. Significant local landmarks within a 20-mile radius include: The Huntington Library, The Rose Bowl, Dodger Stadium, The Staples Center, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios, and more. The Riviera Apartments in Azusa is a well-maintained, newly renovated 2-story, 36-unit property built in 1962. The Property is situated on one parcel, a total of 1.275 acres of land and a total building size of 31,430 square feet. It features a unit mix of one-bed/one-bathroom, two-bed/one-bathroom, and two-bed/ two-bathroom units averaging 873 gross square feet per unit. The units feature high-speed Internet access, air conditioning, ceiling fans, wall-to-wall carpet and window coverings. The building features on-site laundry, covered parking and a pool with mature landscaping. The property is in a highly desirable area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.
Exterior Features

Carport Spaces 38 Carport YN Yes Lot Features 36-40 Units/Acre Number Of Separate Electric Meters 1 Parking Total 38 Pool Features Community Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No

Interior Features

Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Interior Features Ceiling Fan(S)

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.66 Common Interest Community Apartment Community Features CurbsSidewalksPool Electric Expense 28416 Fuel Expense 22509 Garage YN No Gross Income 782206 Gross Scheduled Income 710643 Insurance Expense 12600 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 420439 New Construction YN No New Taxes Expense 141577 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 34 Operating Expense 338302 Other Expense 7200 Pool Expense 3480 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 59220 Trash Expense 9540 Vacancy Allowance 23466 Water Sewer Expense 21573 Water Source Public Zoning Azr3c*

Listing provided courtesy of Eric Chen of Cb Richard Ellis


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-26T00:26:54.393. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
 
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