2310 Del Mar Rd - Apartments FOR SALE


Montrose, CA 91020
$5,000,000 USD
213-233-4389
2310 Del Mar Rd, Montrose, CA for Sale
$5,000,000 USD
Apartments - FOR SALE
1/32
null | 3.68% Cap Rate

2310 Del Mar Rd
Montrose, CA 91020


HIGHLIGHTS

  • Offered for sale for the first time in over 40 years since its original construction in 1984
  • This great investment opportunity features 14 spacious units, each offering 2 bedrooms and 1 bathroom
  • Situated on nearly 21,000 square feet of land across two lots, the building itself spans 13,263 square feet
  • Located in the highly desirable Montrose community, adjacent to La Canada | Walk Score of 82, the location is considered 'Very Walkable'
  • Thirteen of the fourteen units are equipped with central air and heating, and each unit has its own water heater
  • Significant rental upside potential, complemented by additional income from the on-site laundry facilities

OVERVIEW

$600,000 PRICE IMPROVEMENT! Offered for sale for the first time in over 40 years since its original construction in 1984, this great investment opportunity features 14 spacious units, each offering 2 bedrooms and 1 bathroom. Situated on nearly 21,000 square feet of land across two lots, the building itself spans 13,263 square feet and is located in the highly desirable Montrose community, adjacent to La Canada. The property has numerous desirable features for each unit, including 2 covered parking spaces, enclosed balconies/patios, wood/gas fireplaces in the living rooms, and separate metering for gas and electricity. Thirteen of the fourteen units are equipped with central air and heating, and each unit has its own water heater. The property also presents significant rental upside potential, complemented by additional income from the on-site laundry facilities. A newer Class 'A' roof was installed in 2015, ensuring durability and reduced maintenance costs. Tenants enjoy the convenience of being within minutes of the historic Montrose Shopping Park, the retail corridor of Foothill Blvd, and easy access to the 210 Freeway. With a Walk Score of 82, the location is considered 'Very Walkable.' This property, located in Unincorporated Los Angeles County, is subject to rent control ordinances. It represents an excellent investment opportunity, ideal for both new investors and those looking for a 1031 exchange upleg. For more details, please inquire within. Situated on a cul-de-sac, Del Mar Road. Nearest major cross street of Ocean View Blvd and Montrose Ave. Take the 210 Freeway, exit Ocean View Blvd, head towards Montrose Ave, make a RIGHT on Montrose Ave and the next RIGHT on Del Mar Rd until you arrive at 2310 Del Mar Rd on your right side. Please note, all units are tenant occupied, this property includes 2 parcels side-by-side, with APN 5807-002-058, a 9 unit built in 1984 and APN 5807-002-059, a 5 unit consisting of 1 single family residence built in 1923 and 4 units built in 1984. All units are occupied, please do not disturb tenants, do not walk on or through the property. Submit offer subject to inspection.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

14

PRICE/UNIT

$357,143

CAP RATE

3.68%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

$600K PRICE ADJ. | 1984 BLT | ALL 2 BED UNITS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1984

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

LCR3*

APN/PARCEL ID

5807-002-058,5807-002-059

ASK ABOUT THIS PROPERTY

Shant SherbetdjianRE/MAX Commercial & Investment RealtyMore Info
213-233-4389

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Shant SherbetdjianRE/MAX Commercial & Investment RealtyMore Info
213-233-4389

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.