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2310 Del Mar Rd
For Sale $5,000,000 ($376.99 per Sq Ft)
$5,000,000 ($376.99 per Sq Ft)
- 14 Units
- 13,263 Sq Ft
- 20,890 Sq Ft
- Unknown Cap Rate
Description
$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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $5,000,000 |
| Property Type | Multi-Family |
| Usable Sqft | 13,263 |
| Number of Stories | 2 stories |
| Parking Spots | 28 spots |
| Year Built | 1984 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 5807002058 |
| MLS # | 24431831 |
| Property ID | 320799143 |
| Lot Sqft | 20,890 |
| Zoning | LCR3* |
| Total Units | 14 |
| Days on Market | 74 |
| Original List Price | $5,600,000 |
| Date Updated | September 18, 2024 |
| Date Created | August 26, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 1.00 | $1,643 | $2,850 |
| Unit #2 | 2 | 1.00 | $1,737 | $35,750 |
| Gross Income (Yr) | $ 287,787 |
| Operating Expenses | $ 114,129 |
| Net Income (Yr) | $ 173,659 |
| Cap Rate | 3.68% |
Listing Provided By
Shant Sherbetdjian an agent of . Lic #01713570
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