Skip To Content

    628 Fairview Avenue

    Arcadia, CA 91007
    • $7,688,000
    • STATUS: Active
    • ON SITE: 114 days
    • ID#: AR21012789
    UPDATED: 78 min ago
    $7,688,000
    • 0
      BEDS
    • 0.66
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1961
    County:

    School Ratings & Info

    Description

    628 Fairview is a 15-unit pride-of-ownership luxury apartment building with an excellent location in the highly desirable City of Arcadia, CA. The property is unique due to its superb unit mix, large lot size and a superb location. The property has been extensively upgraded to its current immaculate condition. It was built in 1961 and it features many luxury amenities that newer built apartments usually have (central A/C & heating, high ceiling in most units). It is situated on a large lot size that spans from Fairview Ave all the way to another street (Arcadia Ave). The property offers seven (7) x 3bedroom+2bathroom and eight (8) x 2bedroom+2bathroom unit, central A/C and heating for each unit, vaulted ceilings, and townhouse style on some units. Each unit is large with an excellent floor plan and large patio. Most of the 3bedroom units are around 1,550SF in size and the smaller units are around 1,300SF (including private patio/balcony). Many units have floor to ceiling glass windows and sliding doors, each unit is individually metered for electricity and gas, and have an individual water heater. The property is located within the prestigious Arcadia Unified School district which are comprised of some of the highest rated schools in the state.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-16T07:32:43.203. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bhagat Group. Licensed in the State of California, USA.
    www.propertycove.com/homes/113530840
    Print Image

    628 Fairview Avenue Arcadia, CA 91007

    • Price: $7,688,000
    • Status: Active
    • Updated: 78 min ago
    • ID#: AR21012789
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.66
    Acres
    1961
    Built
    Neighborhood:
    605 - Arcadia
    County:
    Los Angeles
    Area:
    605 - Arcadia
    Property Description
    628 Fairview is a 15-unit pride-of-ownership luxury apartment building with an excellent location in the highly desirable City of Arcadia, CA. The property is unique due to its superb unit mix, large lot size and a superb location. The property has been extensively upgraded to its current immaculate condition. It was built in 1961 and it features many luxury amenities that newer built apartments usually have (central A/C & heating, high ceiling in most units). It is situated on a large lot size that spans from Fairview Ave all the way to another street (Arcadia Ave). The property offers seven (7) x 3bedroom+2bathroom and eight (8) x 2bedroom+2bathroom unit, central A/C and heating for each unit, vaulted ceilings, and townhouse style on some units. Each unit is large with an excellent floor plan and large patio. Most of the 3bedroom units are around 1,550SF in size and the smaller units are around 1,300SF (including private patio/balcony). Many units have floor to ceiling glass windows and sliding doors, each unit is individually metered for electricity and gas, and have an individual water heater. The property is located within the prestigious Arcadia Unified School district which are comprised of some of the highest rated schools in the state.
    Exterior Features

    Carport Spaces 19 Carport YN Yes Lot Features LevelNear Public TransitRectangular Lot Number Of Separate Electric Meters 16 Open Parking Spaces 9 Parking Features AssignedCarportDetached Carport Parking Total 28 Pool Features Community Pool Private YN No Property Attached YN Yes

    Interior Features

    Appliances 6 Burner Stove Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Fireplace Features None Fireplace YN No Flooring Wood Heating Central Heating YN Yes Interior Features Balcony

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.9 Common Interest Community Apartment Community Features SuburbanValleyPool Current Financing Conventional Electric Standard Electric Expense 2940 Fuel Expense 432 Garage YN No Gross Income 442020 Gross Scheduled Income 435780 Insurance Expense 2940 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 299857 New Construction YN No New Taxes Expense 84458 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 15 Operating Expense 129090 Pest Control Expense 684 Pool Expense 1380 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 36315 Trash Expense 3978 Utilities Electricity ConnectedNatural Gas Not AvailableSewer ConnectedWater Connected Vacancy Allowance Rate 3 Water Sewer Expense 4860 Water Source Public Zoning Arr3yy

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-16T07:32:43.203. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bhagat Group. Licensed in the State of California, USA.
     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365124345-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365124345-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365124345-1.jpg
    Logo
    The Bhagat Group
    22939 Hawthorne Blvd, Suite 203
    Torrance CA, 90505