The Growth Investment Group is proud to present MONTROSE VILLA - 3030 Montrose Avenue; a 38-unit luxury apartment community in the highly desirable city of La Crescenta, California. This offering presents a rare opportunity for investors to acquire a very well located, non-rent-controlled, upgraded apartment community with an approved condo tract map in one of the strongest submarkets in the Los Angeles County.
The property is a two-story, above parking, beautifully landscaped garden style apartment that was built in 1973 and has undergone extensive renovation in the past years. It is comprised of three buildings with a center courtyard, fenced swimming pool, jacuzzi, and situated on a large ±47,323 square feet (±1.09 acre) lot size. The property has a quiet ambiance and surrounded by single-family houses, condominiums and other area amenities such as churches and retail stores.
It offers an excellent unit mix of two (2) x 3 bedroom + 2 bathroom, twenty (20) x 2 bedroom + 1 bathroom, and sixteen (16) x 1 bedroom + 1 bathroom units. Each unit is large and bright with an attractive layout. The 3-bedroom unit has an estimated size of ±1,050 SF, 2-bedroom unit has an estimated size of ±800 SF, and the 1-bedroom unit has an estimated size of ±650 SF. Upgraded units have laminate wood flooring, upgraded kitchen with quartz/granite countertops and new kitchen cabinets, stainless steel appliances, completely redone bathroom with new vanity, new A/C units, ceiling fans, mirrored closet doors, and double pane windows throughout. Unit amenities include stainless steel refrigerator, stove, dishwasher and garbage disposal, windows a/c in living room and bedroom (some units), and ceiling fans in the kitchen area.
The property is separately metered for electricity and other attractive features. It offers many amenities like fenced swimming pool, jacuzzi, barbecue area, lush landscaping, laundry room, intercom and secured entrance. It offers ample parking with a total of 83 spaces which consists of 11 carport spaces, 2 open spaces and 70 tuck-under spaces (35 x 2 tandem parking). There is a tuck-under parking (2 tandem) that was converted into a storage area. The property has undergone major capital improvements that include landscaping work, and major unit upgrades.
