28 Bonita St
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28 Bonita St
6 Unit Apartment Building $2,280,000 ($380,000/Unit) 3.52% Cap Rate Arcadia, CA 91006
Investment Highlights
- Prime Arcadia location near The Shops at Santa Anita mall, supermarkets, golf course, restaurants, and 210 freeway access.
- Exceptional demographics with an average household income exceeding $120,000 and a median home value approximately $1 million within a 1-mile radius.
- Property features a laundry facility, assigned garage parking spaces, and each unit is separately metered for gas and electricity.
- Potential to enhance rental income further through the addition of an accessory dwelling unit (ADU), subject to buyer verification.
Executive Summary
Presenting a rare opportunity to acquire a 6-unit multifamily property, ideally situated in the heart of Arcadia. This well-maintained asset comprises of all 1-bedroom units. These units offer approximately 3,660 square feet of rentable space on a generous 8,008 square foot lot. The property features a laundry facility, assigned garage parking spaces, and each unit is separately metered for gas and electricity.
This property presents a unique value-add opportunity with substantial rental upside. Arcadia is not subject to local rent control, allowing for maximum allowable rent increases under California's AB1482 legislation. Additionally, there is potential to enhance rental income further through the addition of an accessory dwelling unit (ADU), subject to buyer verification.
The property's prime location is a significant draw, being close proximity to The Shops at Santa Anita mall, supermarkets, golf course, restaurants, 210 freeway access, and the Monrovia Metrolink Station. The area boasts exceptional demographics, with an average household income exceeding $120,000 and a median home value approximately $1 million within a 1-mile radius.
This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of Arcadia.
This property presents a unique value-add opportunity with substantial rental upside. Arcadia is not subject to local rent control, allowing for maximum allowable rent increases under California's AB1482 legislation. Additionally, there is potential to enhance rental income further through the addition of an accessory dwelling unit (ADU), subject to buyer verification.
The property's prime location is a significant draw, being close proximity to The Shops at Santa Anita mall, supermarkets, golf course, restaurants, 210 freeway access, and the Monrovia Metrolink Station. The area boasts exceptional demographics, with an average household income exceeding $120,000 and a median home value approximately $1 million within a 1-mile radius.
This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of Arcadia.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$129,180
|
$35.30
|
| Other Income |
$2,400
|
$0.66
|
| Vacancy Loss |
$3,875
|
$1.06
|
| Effective Gross Income |
$127,705
|
$34.89
|
| Taxes |
$27,360
|
$7.48
|
| Operating Expenses |
$20,147
|
$5.50
|
| Total Expenses |
$47,507
|
$12.98
|
| Net Operating Income |
$80,198
|
$21.91
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $129,180 |
| Annual Per SF | $35.30 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.66 |
| Vacancy Loss | |
|---|---|
| Annual | $3,875 |
| Annual Per SF | $1.06 |
| Effective Gross Income | |
|---|---|
| Annual | $127,705 |
| Annual Per SF | $34.89 |
| Taxes | |
|---|---|
| Annual | $27,360 |
| Annual Per SF | $7.48 |
| Operating Expenses | |
|---|---|
| Annual | $20,147 |
| Annual Per SF | $5.50 |
| Total Expenses | |
|---|---|
| Annual | $47,507 |
| Annual Per SF | $12.98 |
| Net Operating Income | |
|---|---|
| Annual | $80,198 |
| Annual Per SF | $21.91 |
Property Facts
| Price | $2,280,000 | Apartment Style | Low Rise |
| Price Per Unit | $380,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 3.52% | Building Size | 3,660 SF |
| Gross Rent Multiplier | 17.65 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | Parking Ratio | 1.64/1,000 SF |
| Price | $2,280,000 |
| Price Per Unit | $380,000 |
| Sale Type | Investment |
| Cap Rate | 3.52% |
| Gross Rent Multiplier | 17.65 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,660 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1940 |
| Parking Ratio | 1.64/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,865 | 610 |
1 of 1
Walk Score ®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 5773-019-020 | Total Assessment | $1,976,759 |
| Land Assessment | $1,304,661 | Annual Taxes | $27,360 ($7.48/SF) |
| Improvements Assessment | $672,098 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5773-019-020
Land Assessment
$1,304,661
Improvements Assessment
$672,098
Total Assessment
$1,976,759
Annual Taxes
$27,360 ($7.48/SF)
Tax Year
2024
zoning
| Zoning Code | R3HY |
| R3HY |
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Phoebe Liu
28 Bonita St
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