16 W Newman Ave Arcadia , CA 91007
Sale
$1,950,000
4 Units
8 Beds
4 Baths
3,361 Area(sq.ft.)
8,597 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 4 | 2 | 1 | No | $ 1,975 | $ 7,900 | $ 9,200 |
| 1 | 4 | 8 | 4 | $ 7,900 | $ 31,600 | $ 36,800 |
| MLS #: | 24-352897 |
| Days On Market: | 33 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 580 |
| Price per unit: | $ 487,500 |
| Year Built: | 1953 |
Property Details
We are pleased to present the sale of 16 W Newman Avenue, an exquisite fourplex nestled in the heart of Arcadia. This property comprises of all two-bedroom, one-bath units, offering a unique opportunity for a buyer to live in one unit while having the other three tenants help pay your mortgage!! With a generous 3,361 square feet of living space on an expansive 8,597 square foot corner lot (R3 Zoning), the meticulously maintained lawn and landscaping enhance the property's curb appeal. There are a total of 5 parking spaces on property, including one uncovered spot and four garage spaces. Tenants benefit from the convenience of an on-site laundry facility, and there exists potential for additional income by converting some garages into Accessory Dwelling Units (ADUs) prospective buyers are advised to verify this possibility with the City. Immerse yourself in the charm of Arcadia living with this extraordinary property, a perfect combination of luxury, convenience, and investment potential. Additionally, a sister property is available at 15 W Newman Avenue, presenting another fourplex situated directly across the street.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Gross Operating Income: | $ 92,538 |
| Total Annual Expense: | $ 38,951 |
| Net Operating Income: | $ 53,587 |
| Gross Annual Income: | $ 95,400 |
| Cap Rate: | 2.75% |
| Gross Rent Multiplier: | 20.44 |
| Actual Gross Rent: | $ 95,400 |
Structure
| Type of Units: | Apartments |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Zoning: | ARR3YY |
| Parking Garage: | Garage - 2 Car |
Interior
| AC/Cooling: | Wall Unit(s) |
| Equipment: | None |
| Heating: | Wall |
| Laundry: | Community, Laundry Area, Room |
Exterior
Detailed Map
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Income
