Pending
601 Cornell Drive
Arcadia CA, 91007
$3,000,000
$432.03 per sqft
Pending
6,944 sqft
Residential
Built in 1953
Listed by Priscilla Nee with CB Richard Ellis, Inc. 310-550-2508
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.
25503039
MLSⓇ ID
February 25, 2025
Listed
March 12, 2025
Updated
Interior Features
Total Stories
1
Fireplace
No
Fireplace Description
None
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.49 Acres
Window
Double Pane Windows
Other Property Details
Area Name
605 - Arcadia
Days on Market
13
Garage
Yes
Parking
Door-Single, Garage
Parking Total
9
View
No
County
Los Angeles
Pool Features
None
Zoning
ARR3*
Listing History
Date | Event | Price |
|---|---|---|
3/11/2025 | Pending | — |
Listing Contact:
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Data last updated on 3/12/2025 at 10:41 AM UTC