212 S Azusa, Azusa

$20,600,000
MLS: PW17133790

List Price: $20,600,000
MLS Number: PW17133790
Property Class: ResidentialIncome
212 S Azusa, Azusa, 91702

Year Built: 1960
Square Footage: 138334
County: Los Angeles
MLS Area Major: 607 – Azusa

Property Description

Triqor Group is pleased to present Tribeca Apartments, a 96-unit garden-style apartment community located in Azusa, California. Tribeca was built in 1960, boasting well designed, spacious units with many units having been upgraded to earn premium rents. New ownership will be able to continue the proven model with the remaining units and further boost NOI growth. In addition, the buyer can take advantage of assuming the in-place loan which is better than the current market financing. Tribeca Apartments offers an astute investor the opportunity to purchase a well located, well-maintained,institutional quality asset with over 10% upside in rents and a mid-5% cap rate on market. The Tribeca Apartments is strategically located near Interstate 210 with frontage on Azusa Ave, the city’ s major north/south thoroughfare. The property is 3.5 miles east of the 605 Freeway and 5 miles west of the 57 Freeway. The property is surrounded by major employment, retailers and a rapidly growing population. Additionally, Tribeca is in close proximity to higher education institutions including Azusa Pacific University and Citrus College. Tribeca is 1 mile from the new Downtown Azusa train station for the Foothill Gold Line, further connecting tenants to Downtown LA.

Year Built: 1960
Square Footage: 138334
Carport Spaces: 96
CommonWalls: 2+ Common Walls
Construction Materials: Stucco,Wood Siding
Days On Market: 117
Lot Features: Garden,Greenbelt,Landscaped,Paved,Sprinkler System
Property Attached YN: 1
Roof: Flat
Water Source: Public
Number Of Units Total: 96

Appliances: Gas Oven,Gas Stove
Pool Features: Community Pool,In Ground
Community Features: Curbs,Sidewalks,Suburban
Interior Features: Ceiling Fan
Exterior Features: Barbecue Private
ParkingFeatures: Carport,Covered Parking,Uncovered,On Site
Parking Total: 204
Parking YN: 1
Laundry Features: Area

Directions: Tribeca Apartment Homes, off S. Azusa Avenue

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