CA > Arcadia
Arcadia, CA 91007,601 Cornell DR
Arcadia, CA 91007,601 Cornell DR
Arcadia, CA 91007,601 Cornell DR
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,000,000
Est. payment /mo
6,944 SqFt
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UPDATED:

02/25/2025 11:53 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,944 sqft

Price per Sqft $432

MLS Listing ID 25503039

HOA Y/N No

Year Built 1953

Lot Size 0.494 Acres

Property Description

Comprised of two single-story buildings built in 1953 on 21,514 square foot R3 lot, 601-605 Cornell Drive is a 12-unit multifamily property with a total building size of 6,944 square feet. 601-605 Cornell Drive boasts a unit mix of all one-bedroom/one-bathroom units. Each unit is equipped with its own water heater, wall units for heating and cooling, and dual entrances. With current rents conservatively 55% below market, and further upside following complete unit renovations, a new owner will be able to immediately create value with this unique asset. An investor should also explore development opportunities as the zoning allows for up to one unit per 1,089 SF of lot size before any density bonuses (buyer must verify). The property is subject to AB 1482, but there are no other local rent control restrictions.

Location

State CA

County Los Angeles

Area 605 - Arcadia

Zoning ARR3*

Interior

Heating Wall Furnace

Fireplaces Type None

Fireplace No

Exterior

Parking Features Door-Single, Garage

Pool None

Attached Garage Yes

Total Parking Spaces 9

Private Pool No

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5775027004

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Priscilla Nee • CB Richard Ellis, Inc.

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