Los Angeles, Residential Income – 212 S Azusa Ave, Azusa, CA 91702, USA -001-11-30T00:00:00-08:00
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
212 S Azusa Ave, Azusa, CA 91702, USA
$20,600,000 USD
Pictures
Map
Object Images
Small Object Image
Small Object Image
Small Object Image
Small Object Image
Small Object Image
Contact us
Schedule Tour
Address212 South Azusa Avenue, Azusa
Price$20,600,000
Year Built1960
Bedrooms Total0
Living Area78,656 ft2
Lot Size (Sq.Ft.)138,334
Listing IDPW17133790
StatusActive
Parcel Number8613026018
Special ConditionsStandard
Days on Market158

Detailed 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.

Laundry
Parking
Pool Private
Rent Control
Senior Community
Property Attached
Land Lease
Appliances

Property added to favorites
Add to Favorite
Mortgage calculator
More Information
Loan
Mortgage
Expert
Loan amount
Loan term
Annual interest rate
First payment date
Amortization period
Calculate
Hide
Address Information
Address212 South Azusa Avenue, Azusa
Street PrefixSouth
Street SuffixAvenue
CityAzusa
Location (MLS Area)607 – Azusa
County Or ParishLos Angeles
State or ProvinceCA
Postal Code91702
CountryUS
Financial Information
Price per Square Foot$261.90
Price per Lot Square Foot$148.91
Special ConditionsStandard
Total Expenses$607,009
Professional Management Expense$46,735
Operating Expense$607,009
Insurance Expense$24,962
Pool Expense$1,800
Workman\’s Compensation$97,920
Maintenance Expense$76,800
Other Expense DescriptionMisc.
Other Expense$94,350
Gross Operating Income$1,557,843
Gross Income$1,557,843
Gross Scheduled Income$1,606,024
Net Operating Income$950,834
Total Actual Rent$130,290
Gross Multiplier12.83%
Other Income 1$42,540
Tax Year2000
Tax Lot10
New Taxes Expense$254,447
Full Descriptions
Parcel Number8613026018
Detailed DescriptionTriqor 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.
Lot FeaturesGarden, Greenbelt, Landscaped, Paved, Sprinkler System
Community FeaturesCurbs, Sidewalks, Suburban
Interior FeaturesCeiling Fan
Flooring DescriptionWood
Water SourcePublic
Construction MaterialsStucco, Wood Siding
Roof DescriptionFlat
Laundry FeaturesArea
Appliances DescriptionGas Oven, Gas Stove
Exterior FeaturesBarbecue Private
Parking FeaturesCarport, Covered Parking, Uncovered, On Site
Common Walls Description2
Pool FeaturesCommunity Pool, In Ground
Property parameters
Year Built1960
Living Area (Sq.Ft.)78,656 ft2
Lot Size (Sq.Ft.)138,334
Lot Size SourceAssessor
Number of Buildings10
Number of Units Total96
Parking Spaces204
Uncovered Spaces108
Carport Spaces96
Water SourcePublic
Units Total96
Vacancy Allowance Rate3%
Number of Separate Water Meters48
Cap Rate (For Cash Payment Only)4.6
Listed withChris Keramati (Triqor Group)