17
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$1,050,000
Est. payment /mo
6,011 Sqft Lot
New
602 Cedarglen Azusa, CA 91702
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV26112521
HOA Y/N No
Year Built 1963
Annual Tax Amount $11,986
Lot Size 6,011 Sqft
Property Sub-Type Quadruplex
Property Description
We are pleased to present the opportunity to acquire a four-unit multifamily investment property located at 602 Cedarglen Drive in Azusa, California. Situated on a corner lot within an established residential neighborhood, the property offers investors the opportunity to acquire a well-located apartment asset in the San Gabriel Valley with strong underlying rental demand and proximity to major educational and employment drivers. Built in 1963, the property consists of approximately 2,591 square feet of building area situated on a 0.14-acre MOD (Moderate Density Residential) zoned lot. The property is comprised of one building featuring an all one-bedroom / one-bathroom unit mix averaging approximately 650 square feet. Additional property features include four tuckunder carport parking spaces that provide covered tenant parking. The property is separately metered for gas and electricity, while ownership currently pays for water, sewer, and trash services. The property benefits from a desirable Azusa location with convenient access to surrounding retail, dining, and transportation amenities. The asset is located near Azusa Pacific University and Citrus College, two major educational institutions that contribute to consistent rental demand within the area. Residents also benefit from proximity to the Metro A Line (Gold Line), providing connectivity throughout the San Gabriel Valley and into Downtown Los Angeles. Additionally, the property offers convenient access to the 210 Freeway, allowing tenants efficient access to surrounding employment hubs across Los Angeles County and the Inland Empire. Azusa continues to experience ongoing revitalization through new mixed-use, residential, and transit-oriented development projects throughout the city, supporting long-term growth and housing demand within the submarket. Overall, the offering presents investors with the opportunity to acquire a multifamily asset in a transforming San Gabriel Valley submarket benefiting from continued mixed-use development, transit-oriented growth, and expanding housing demand. With proximity to higher education institutions, regional transportation infrastructure, and ongoing city revitalization efforts, the property is well positioned to benefit from Azusa's long-term economic and residential growth trajectory. The property is subject only to California statewide rent cap regulations under AB 1482 and is not subject to any local city rent control ordinance.
Location
State CA
County Los Angeles
Area 607 - Azusa
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Sidewalks, Urban
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 8612001031
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Gisele Pinedo MARCUS & MILLICHAP #02188347
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