Duplex with Detached
For Sale
$1,290,000
1016 N Palm Dr, Azusa, CA 91702
Two private-entry homes offer separate yards and fenced outdoor areas.
Property Size2,264 SF
Lot Size0.36 Acres
Days on Market11
Property Features for 1016 N Palm Dr
General Information
Standard status
Active
Size
2,264 SF
Lot size
0.36 Acres
Property subtype
Investment
Additional Details
Highway Access
Yes
Amenities
mature fruit trees
owned solar panels
EV charging station
security camera system
newly completed landscaping
Building Details
Building Size
2,264 SF
Year Built
1949
Year Renovated
2016
Buildings
2
Stories
1
Listing Agency:
(626) 375-0798
Listed By:
Pei Liu
(626) 375-0798
Source:
Elliman
Added: Aug 2
Changed: Aug 8
Last Checked: Aug 12 at 10:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pei Liu
Investment Insights
Based on property information with market context.
This Azusa duplex includes two independent residences on a 15,749-square-foot lot, each with a private entrance, separate yard, and fenced outdoor space. The 1,264-square-foot main house has 3 bedrooms and 1 bathroom and received extensive renovation work in 2016, including a new roof and framing, updated plumbing and electrical components, dual-pane UV-insulated windows, three mini-split HVAC systems, new flooring and tile, and earthquake foundation retrofitting. A detached ADU completed in 2025 adds 1,000 square feet with 3 bedrooms and 2 bathrooms, along with modern flooring, recessed lighting, custom cabinetry, and updated kitchen and bathroom finishes.
Additional improvements include two concrete driveways completed in 2020, new sewer drain lines completed in 2025, owned solar panels, an EV charging station, security cameras, and new landscaping. The property is adjacent to the Rosedale Master-Planned Community and offers access to shopping, dining, schools, public transportation, and major freeways. A JADU may also be possible, subject to City verification.
Additional improvements include two concrete driveways completed in 2020, new sewer drain lines completed in 2025, owned solar panels, an EV charging station, security cameras, and new landscaping. The property is adjacent to the Rosedale Master-Planned Community and offers access to shopping, dining, schools, public transportation, and major freeways. A JADU may also be possible, subject to City verification.
Key Highlights
- Two separate homes on a 15749 sf lot, each with a private entrance, separate yard, and fenced outdoor space
- Main house offers 1,264 sq. ft. with 3 bedrooms and 1 bathroom; extensively renovated in 2016
- Detached ADU completed in 2025 with 1,000 sq. ft., 3 bedrooms, and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,538
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$790,760
$790.8K
Cap Rate 7%
$564,829
$564.8K
Cap Rate 9%
$439,311
$439.3K
Market Conditions
NOI Build-Up for 2,264 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.1K $27.00/SF
− Vacancy
−$4.6K −$2.05/SF
EGI
$56.5K $24.95/SF
− OpEx
−$16.9K −$7.48/SF
NOI
$39.5K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$790,760
Cap Rate 7%
$564,829
Cap Rate 9%
$439,311
Alternative Uses
Best Use
Multifamily LT 5
$564.8K
$494.2K – $659.0K
NOI $39,538 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$520.4K
$455.4K – $607.2K
NOI $36,430 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,850 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 91702, CA
62,328
Population
18,218
Households
3.4
Avg Household Size
34
Median Age
24%
College-Educated
78%
High-School Grad
65.0 sq mi
ZIP Area
959
Density / Sq Mi
$87,577
Median Household Income
$35,714
Median Earnings
$1,847
Median Rent
$604,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two private-entry homes offer separate yards and fenced outdoor areas.
Where is this duplex located?
The property is located at 1016 N Palm Dr Azusa, CA.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Two separate homes on a 15749 sf lot, each with a private entrance, separate yard, and fenced outdoor space; Main house offers 1,264 sq. ft. with 3 bedrooms and 1 bathroom; extensively renovated in 2016; Detached ADU completed in 2025 with 1,000 sq. ft., 3 bedrooms, and 2 bathrooms
