Renovated 20-Unit Apartment
New
For Sale
$7,500,000
3819 Park Place, Montrose, CA 91020
Building-wide system and interior upgrades completed between 2022 and 2024 include replacement utility lines and remodeled kitchens and bathrooms.
Property Size15,374 SF
Lot Size0.45 Acres
Price / SF$488.15
Days on Market6
Property Features for 3819 Park Place
General Information
Standard status
Active
Size
15,374 SF
Lot size
0.45 Acres
Property subtype
Multifamily
Zoning
LCR3
Occupancy
100%
Additional Details
Cap Rate
4.88%
Highway Access
Yes
Amenities
landscaped grounds
balconies
common outdoor seating area
First Time Offered for Sale Since Construction, presenting a rare opportunity to acquire a 20-unit multifamily property in La Crescenta–Montrose
Spacious Unit Mix, featuring 19 two-bedroom/one-bathroom units and one three-bedroom/ one-bathroom unit, totaling approximately 15,364 square feet
Substantial 19,681-Square-Foot Parcel, approximately 0.45 acres, providing a valuable underlying land position
Potential Future Assemblage or Redevelopment Opportunities, subject to feasibility, applicable zoning requirements, and governmental approvals
Adjacent Shopping, Dining, and Everyday Services, including Marshalls, Vons, CVS, Wingstop, Crumbl Cookies, Burger King, Goodwill, Domino's, New Moon, and Circle K, with Carl's Jr. and the U.S. Post Office along Montrose Avenue and El Pollo Loco, Starbucks, and Regal UA La Cañada nearby
Walkable Access to Montrose Shopping Park and Honolulu Avenue, featuring boutiques, restaurants, cafés, and neighborhood services, including Starbucks, Coffee Bean, Paris Baguette, Bank of America, Wells Fargo, and Chase, with Trader Joe's nearby
Extensive Capital Improvements Completed in 2022–2024, including replacement of plumbing, electrical, and gas lines
Fully Remodeled Units, featuring updated kitchens, bathrooms, drywall, and paint, complemented by new exterior stucco, Roof Replaced in 2010 with a 50-year composition roof
Building Details
Building Size
15,374 SF
Units
20
Listing Agency:
Marcus & Millichap - Orange County
Listed By:
Sheila Alimadadian · License #License(s): CA: 01266188
(949) 419-3265
Source:
Marcusmillichap
Added: Oct 30
Last Checked: Nov 3 at 3:10AM
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 Marcus & Millichap - Orange County
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 20-unit apartment property contains approximately 15,364 square feet on a 19,681-square-foot parcel, or approximately 0.45 acres. The unit mix is 19 two-bedroom, one-bathroom apartments and one three-bedroom, one-bathroom apartment. Work completed from 2022 to 2024 replaced plumbing, electrical, and gas lines and included remodeled kitchens and bathrooms, updated drywall and paint, and new exterior stucco. A 50-year composition roof was installed in 2010. Residents also have landscaped grounds, balconies, and a shared outdoor seating area.
The property is near Verdugo Boulevard and Park Place, with shopping and services along Verdugo Boulevard and Montrose Avenue. Nearby destinations include Montrose Shopping Park, Trader Joe’s, and Regal UA La Cañada. Connections to I-210 and SR-2 provide access to Glendale, Burbank, Pasadena, and Downtown Los Angeles. The site is zoned LCR3; any future assemblage or redevelopment would depend on feasibility and required approvals.
The property is near Verdugo Boulevard and Park Place, with shopping and services along Verdugo Boulevard and Montrose Avenue. Nearby destinations include Montrose Shopping Park, Trader Joe’s, and Regal UA La Cañada. Connections to I-210 and SR-2 provide access to Glendale, Burbank, Pasadena, and Downtown Los Angeles. The site is zoned LCR3; any future assemblage or redevelopment would depend on feasibility and required approvals.
Key Highlights
- 20 apartments: 19 two‑bedroom/one‑bathroom units and one three‑bedroom/one‑bathroom unit
- Approximately 15,364 square feet on a 19,681‑square‑foot parcel, approximately 0.45 acres
- Plumbing, electrical, and gas line replacement, remodeled kitchens and bathrooms, and other upgrades completed between 2022 and 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$247,219
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,944,380
$4.9M
Cap Rate 7%
$3,531,700
$3.5M
Cap Rate 9%
$2,746,878
$2.7M
Market Conditions
NOI Build-Up for 15,364 SF
Gross rent
$488.6K $31.80/SF
− Vacancy
−$39.1K −$2.54/SF
EGI
$449.5K $29.26/SF
− OpEx
−$202.3K −$13.17/SF
NOI
$247.2K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,944,380
Cap Rate 7%
$3,531,700
Cap Rate 9%
$2,746,878
Alternative Uses
Best Use
Apartment 5plus
$3.53M
$3.09M – $4.12M
NOI $247,219 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.23M
$7.20M – $9.60M
NOI $575,808 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,161
Businesses Nearby
Explore this area
Business Placement
Demographics for 91020, CA
8,439
Population
3,501
Households
2.4
Avg Household Size
42
Median Age
51%
College-Educated
91%
High-School Grad
0.7 sq mi
ZIP Area
12,056
Density / Sq Mi
$60,899
Median Household Income
$59,838
Median Earnings
$2,258
Median Rent
$880,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Building-wide system and interior upgrades completed between 2022 and 2024 include replacement utility lines and remodeled kitchens and bathrooms.
Where is this apartment building located?
The property is located at 3819 Park Place Montrose, CA.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 20 apartments: 19 two‑bedroom/one‑bathroom units and one three‑bedroom/one‑bathroom unit; Approximately 15,364 square feet on a 19,681‑square‑foot parcel, approximately 0.45 acres; Plumbing, electrical, and gas line replacement, remodeled kitchens and bathrooms, and other upgrades completed between 2022 and 2024
