$2,300,000
$2,430,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
8,712 Sqft Lot
SOLD DATE : 01/23/2024
Key Details
Sold Price $2,300,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC23203111
Sold Date 01/23/24
HOA Y/N No
Year Built 1960
Lot Size 8,712 Sqft
Property Description
5.4% Current CAP! The Parkside Apartments is nestled at the end of a tranquil cul-de-sac. This property also enjoys a prime location near the bustling retail intersection of Imperial Highway and La Habra Boulevard, making it a prime choice for residents seeking convenience and accessibility.
In addition to its coveted location, The Parkside Apartments are strategically positioned to take full advantage of the high-demand rental market in La Mirada. This city boasts a scarcity of multifamily rental options including the scarcity of 1-bedroom units in the area, which underscores the limited opportunities for those seeking such accommodations. Additionally, the multifamily market’s supply constraints have created a unique situation for investors, with few properties available for acquisition in this city. The Parkside Apartments feature an appealing unit mix, consisting of eight 1-bedroom units and one 3-bedroom, 1.75-bath townhome unit. Currently, these units are rented at below-market rates in their existing condition. This presents an exceptional opportunity for a new owner to realize substantial rental income increases without the need for costly physical upgrades.
In summary, The Parkside Apartments offer not only an outstanding location but also the potential for significant financial growth in a rental market with limited options, making it a lucrative investment opportunity for the discerning investor.
Location
State CA
County Los Angeles
Area M3 - La Mirada
Zoning LMR3*
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Disposal, Gas Oven, Gas Range, Range Hood
Laundry Common Area
Exterior
Garage Assigned, Covered, Garage
Garage Spaces 3.0
Carport Spaces 6
Garage Description 3.0
Pool None
Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Suburban, Sidewalks
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N Yes
View Courtyard
Roof Type Shingle
Parking Type Assigned, Covered, Garage
Total Parking Spaces 9
Private Pool No
Building
Lot Description 6-10 Units/Acre, Cul-De-Sac
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8041024009
Energy Description 5321.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Vance Nordine • Nordine Realty, Inc
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
310 Third Ave Suite # C-3, Chula Vista, California, 91910, United States