132 DIAMOND STREET
10 Units in Prime Arcadia
95 (Walker's Paradise
Realty Investment Advisors is pleased to introduce an exclusive offering: a 10-unit condo-style apartment building situated in the highly sought-after area of prime Arcadia. This remarkable opportunity marks the first-ever listing of the property, presented by its original owner and developer. For astute investors, this represents an exceedingly rare chance to acquire a property of superior 1988 construction in a flourishing rental market.
Situated on a generous 15,912 square foot lot, the buildings are approximately 11,592 square feet. The unit composition consists of two 3-bedroom, 2.5-bath units, seven 2-bedroom, 2.5-bath units, and a 2-bedroom + den, 2.5-bath unit. The property boasts ample parking with a total of 24 spaces available, including ten 2-car garages and an additional four guest parking spaces.
All units are designed in a two-story townhouse style and offer modern comforts such as central air conditioning and heating, dishwashers, dedicated washer/dryer hookups, separate gas and electricity meters, and direct access to the unit from their assigned garages. Certain units have received upgrades like wood flooring and countertops, and there may be a potential for future condo conversion (subject to verification by the buyer with the city). This unique property opportunity is not to be missed.
Arcadia is a city in Los Angeles County, California, United States located about 13 miles northeast of downtown Los Angeles in the San Gabriel Valley and at the base of the San Gabriel Mountains. Arcadia's Upper Rancho neighborhood was ranked the 23rd richest neighborhood in Southern California by Business Insider in 2014; out ranking Orange County's Newport Beach.
Arcadia's economy is driven by wholesale trade, retail trade, manufacturing, health care and social assistance, arts, entertainment, and recreation. Revenue from the Santa Anita Racetrack has long supported capital improvements for the City of Arcadia, resulting in the City having very little bonded indebtedness.