132 Diamond St

Arcadia, CA 91006

$5,800,000
Last Sold Price
23
Beds
30
Baths
11,592 Sq. Ft.
$500 / Sq. Ft.
11,592
Sq. Ft.
$500
per Sq. Ft.
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Sold 1/10/24
Sold 1/10/24
a front view of a house with a yard and potted plants

Description

We are pleased to introduce an exclusive offering: a 10-unit condo-style apartment building situated in the highly sought-after area of prime Arcadia. This remarkable opportunity marks the first-ever listing of the property, presented by its original owner and developer. For astute investors, this represents an exceedingly rare chance to acquire a property of superior 1988 construction in a flourishing rental market. Situated on a generous 15,912 square foot lot, the buildings are approximately 11,592...We are pleased to introduce an exclusive offering: a 10-unit condo-style apartment building situated in the highly sought-after area of prime Arcadia. This remarkable opportunity marks the first-ever listing of the property, presented by its original owner and developer. For astute investors, this represents an exceedingly rare chance to acquire a property of superior 1988 construction in a flourishing rental market. Situated on a generous 15,912 square foot lot, the buildings are approximately 11,592 square feet. The unit composition consists of two 3-bedroom, 2.5-bath units, seven 2-bedroom, 2.5-bath units, and a 3-bedroom + den, 2.5-bath unit. The property boasts ample parking with a total of 24 spaces available, including ten 2-car garages and an additional four guest parking spaces. All units are designed in a two-story townhouse style and offer modern comforts such as central air conditioning and heating, dishwashers, dedicated washer/dryer hookups, separate gas and electricity meters, and direct access to the unit from their assigned garages. Certain units have received upgrades like wood flooring and countertops, and there may be a potential for future condo conversion (subject to verification by the buyer with the city). This unique property opportunity is not to be missed.

Property Details for 132 Diamond Street

Zoning
ARR3YY
Parcel Number
5779003036
Total Units
10.0
Living Area
11592
Source Living Area
Vendor Enhanced
Area
Arcadia (605)
Vacancy Rate
1
Lot Size Area
15912
LISTING UPDATED: 01/10/2024 10:38 AM

Property Details for 132 Diamond Street

StatusSold
MLS #23-305845
Days on Market64
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1988
Lot Size0.37 AC / 15,912 SF
CountyLos Angeles County
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Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652

Sold By Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644

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Building Information for 132 Diamond Street

Stories2Residences-Year Built1988Building Size-Lot Size0.37 AC / 15,912 SF

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$28,148 per month

30 year fixed, 6.11% Interest

Principal and Interest

$28,148

Property Taxes

$0

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 132 Diamond Street

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $244,556
  • Net Operating Income: $143,496.00
  • Gross Income: $252,120
  • Gross Scheduled Income: $252,120
  • Cap Rate: 2.29%
  • Gross Rent Multiplier: $24.79
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 101496
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3653
  • Lot Size Square Feet: 15912
Parking Details
Parking Details
  • Parking Garage: Garage - 2 Car
  • Total Parking: 24
  • Open Other Spaces Total: 4
  • Garage Spaces Total: 20
  • Parking Features: Garage - Two Door
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Air Conditioning
  • Cooling Type: Air Conditioning
  • Heating: Central
  • Heating Type: Central
  • Equipment: None
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-31-2023
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $2,275.00
  • Unit Actual Rent: $4,550.00
  • Unit Projected Rent: $7,000.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $2,500.00
  • Unit Actual Rent: $2,500.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $1,994.00
  • Unit Actual Rent: $13,960.00
  • Unit Projected Rent: $18,550.00
  • Like Units: 7
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,183,396.00
  • Assessed Improvement Percent: 61.32
  • Assessed Land Value: $746,539.00
  • Assessed Land Percent: 38.68
  • Assessed Total Value: $1,929,935.00

Property History for 132 Diamond Street

DateEvent & SourcePriceAppreciation
Jan 10, 2024

Sold

SDMLS #23-305845

$5,800,000—
Jan 10, 2024

Sold

CRMLS #23305845

$5,800,000—
Jan 10, 2024

Sold

CLAW #23-305845

$5,800,000—
Nov 3, 2023

Pending

CRMLS #23305845

—
Nov 3, 2023

Pending

CLAW #23-305845

—
Nov 3, 2023

Pending

SDMLS #23-305845

—
Aug 31, 2023

Listed (Active)

CLAW #23-305845

$6,250,000—
Aug 31, 2023

Listed (Active)

SDMLS #23-305845

$6,250,000—
Aug 31, 2023

Listed (Active)

CRMLS #23305845

$6,250,000—
DateEvent & SourcePrice
01/10/2024

Sold

SDMLS #23-305845

$5,800,000
01/10/2024

Sold

CRMLS #23305845

$5,800,000
01/10/2024

Sold

CLAW #23-305845

$5,800,000
11/03/2023

Pending

CRMLS #23305845

—
11/03/2023

Pending

CLAW #23-305845

—
11/03/2023

Pending

SDMLS #23-305845

—
08/31/2023

Listed (Active)

CLAW #23-305845

$6,250,000
08/31/2023

Listed (Active)

SDMLS #23-305845

$6,250,000
08/31/2023

Listed (Active)

CRMLS #23305845

$6,250,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 132 Diamond Street

This home is within Arcadia Unified School District.
Rating
School
Type
Grades
Distance
Holly Avenue Elementary School
Public - K to 5
First Avenue Middle School
Public - 6 to 8
Arcadia High School
Public - 9 to 12
Rancho Learning Center (Alternative)
Public - K to 12
Rating
School
Distance
Holly Avenue Elementary School
PublicK to 5

First Avenue Middle School
Public6 to 8

Arcadia High School
Public9 to 12

Rancho Learning Center (Alternative)
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.