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601 Cornell DR Arcadia, CA 91007
6,944 SqFt
UPDATED:
03/11/2025 06:11 PM
Key Details
Property Type Multi-Family
Listing Status Pending
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
Listed by Priscilla Nee • CB Richard Ellis, Inc.
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