16 Newman Ave, Arcadia, CA 91007
4 Unit Apartment Building Offered at $1,950,000 at a 2.75% Cap Rate in Arcadia, CA 91007
For Sale
Active
Asking Price $1,950,000
- Property Type
-
Multifamily
- Square Feet
- 3,361 SF
Listing Contacts
Benjamin Hsiang
Alexander Metaxas
Property Overview
Realty Investment Advisors is 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.
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.
Property Details
- Year Built
- 1953
- Stories
- 2
- Lot Size (sq. ft)
- 8,712 SF
- Units
- 4
Highlights
- Prime location; steps away from Santa Anita Park and Santa Anita Golf Course
- Potential ADU conversion opportunities (Buyer to verify)
- Perfect for an Owner/User
- On-site laundry room
- 30 Year fixed residential financing
- 8,597 Square Foot Corner Lot Zoned R3
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