$8,650,000
$9,500,000
8.9%For more information regarding the value of a property, please contact us for a free consultation.
1381 N SAN GABRIEL CANYON RD Azusa, CA 91702
Key Details
Sold Price $8,650,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 19466670
Sold Date 11/10/19
HOA Y/N No
Year Built 1962
Property Description
The Riviera Apartment community is an ideal opportunity for a multifamily investor to take advantage of purchasing an apartment asset in thedynamic growth market of the East San Gabriel Valley, City of Azusa. The Riviera is conveniently located within a short distance to retail, restaurants, gold line transit hub, major entertainment venues and the top employment centers.The Riviera Apartments is the perfect multifamily investment opportunity with projected longterm market stability, positive rental growth, improving East San Gabriel Valley sub-market location, tax and long-term appreciation benefits The ownership does not have a defined timeline to sell and therefore may be able to accommodate timing on a 1031 exchange into Riviera. Additionally, the ownership has two other multifamily assets in this submarket and may entertain a sale of those properties with Riviera. The property has projected immediateupside in the rental income.
Location
State CA
County Los Angeles
Area 607 - Azusa
Zoning AZR3C*
Interior
Fireplace No
Exterior
Garage Carport
Parking Type Carport
Building
Story 2
Others
Senior Community No
Tax ID 8608001003
Special Listing Condition Standard
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Bought with Peter Hauser • Avison Young – Southern CA LTD