15 West Newman Avenue

Arcadia, CA 91007

$1,950,000
Price
8
Beds
4
Baths
3,401 Sq. Ft.
$573 / Sq. Ft.
3,401
Sq. Ft.
$573
per Sq. Ft.

Description

We are pleased to present the sale of 15 W Newman Avenue, an exquisite fourplex nestled in the heart of Arcadia. This property comprises of all two-bedroom, one-bath units, offering a unique opportunity for a buyer to live in one unit while having the other three tenants help pay your mortgage! With a generous 3,401 square feet of living space on an expansive 8,665 square foot corner lot (R3 Zoning), the meticulously maintained lawn and landscaping enhance the property's curb appeal. There are a...We are pleased to present the sale of 15 W Newman Avenue, an exquisite fourplex nestled in the heart of Arcadia. This property comprises of all two-bedroom, one-bath units, offering a unique opportunity for a buyer to live in one unit while having the other three tenants help pay your mortgage! With a generous 3,401 square feet of living space on an expansive 8,665 square foot corner lot (R3 Zoning), the meticulously maintained lawn and landscaping enhance the property's curb appeal. There are a total of 5 parking spaces on property, including one uncovered spot and four garage spaces. Tenants benefit from the convenience of an on-site laundry facility, and there exists potential for additional income by converting some garages into Accessory Dwelling Units (ADUs) prospective buyers are advised to verify this possibility with the City. Immerse yourself in the charm of Arcadia living with this extraordinary property, a perfect combination of luxury, convenience, and investment potential. Additionally, a sister property is available at 16 W Newman Avenue, presenting another fourplex situated directly across the street.
  1. Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Alexander Metaxas • DRE #01784652 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.

Property Details for 15 West Newman Avenue

Zoning
ARR3YY
Parcel Number
5775027021
Total Units
4.0
Living Area
3401
Source Living Area
Vendor Enhanced
Area
Arcadia (605)
Vacancy Rate
0
Lot Size Area
8665

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652
Add your commute
LISTING UPDATED: 02/09/2024 12:01 AM

Property Details for 15 West Newman Avenue

StatusActive
MLS #24-352885
Days on Market89
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.20 AC / 8,665 SF
CountyLos Angeles County

Location

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

Building Information for 15 West Newman Avenue

Stories2Residences-Year Built1957Building Size-Lot Size0.20 AC / 8,665 SF

Payment Calculator

$10,867 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,642

Property Taxes

$225

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 15 West Newman Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • 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: $85,263
  • Net Operating Income: $46,657.00
  • Gross Income: $87,900
  • Cap Rate: 2.39%
  • Gross Rent Multiplier: $22.18
  • Actual Annual Gross Rent: $87,900.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 38606
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1989
  • Lot Size Square Feet: 8665
Parking Details
Parking Details
  • Parking Garage: Garage - 2 Car
  • Total Parking: 5
  • Covered Parking: 4
  • Open Other Spaces Total: 1
  • Garage Spaces Total: 4
  • Parking Features: Garage - Two Door
Interior Features
Interior Features
  • Levels: One, Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
  • Laundry: Laundry Area, Room, Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-01-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,819.00
  • Unit Actual Rent: $7,275.00
  • Unit Projected Rent: $9,200.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $87,163.00
  • Assessed Improvement Percent: 66.92
  • Assessed Land Value: $43,095.00
  • Assessed Land Percent: 33.08
  • Assessed Total Value: $130,258.00

Property History for 15 West Newman Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 15 West Newman Avenue

Taxable ValueLand$43,095Additions$87,163Total$130,258
Tax Record2023$2,702 ($225 / month)
Home Facts
Total Finished SqFt3,401 SqFtAbove Grade Finished SqFt3,401 SqFtLot Size8,947 SqFtStyleQuadraplexYear Built1957ZoningARR3YYCountyLOS ANGELESAPN5775-027-021

Schools near 15 West Newman Avenue

This home is within Arcadia Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 1 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)
Public1 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

15 West Newman Avenue is a multi-family home for sale in Arcadia, CA 91007. This property was listed for sale on February 1, 2024 by Realty Investment Advisors, Inc., it's currently listed at $1,950,000. This listing's school district is Arcadia Unified School District. Nearby schools include Holly Avenue Elementary School, First Avenue Middle School and Arcadia High School. 15 West Newman Avenue is a 8-bed, 4-bath, 3,401 sqft multi-family home built in 1957.

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. 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.