3033 Arbutus Ave Huntington Park, CA 90255

Property Details for 3033 Arbutus Ave

Year built

1929

Property size

8,730 SF

Property type

Commercial real estate

Description

This exceptional 15-unit multifamily investment property in Huntington Park, California, presents a compelling opportunity for savvy investors. The property, situated on two parcels totaling nearly 15,000 square feet, comprises fourteen 1-bedroom, 1-bathroom residential units and one commercial storefront. The unit mix includes a blend of single-story bungalows and two-story buildings, offering a diverse portfolio. Ample onsite garages provide additional income potential, and the property's zoning allows for the addition of multiple Accessory Dwelling Units (ADUs), significantly increasing future revenue streams. With a current NOI of $177,973 and a pro-forma NOI of $225,769, this property boasts a 5.65% cap rate and a pro-forma cap rate of 7.17%. The asking price is $3,150,000, or $210,000 per unit. Built between 1929 and 1939, the property features separately metered gas and electricity for each unit. Its convenient location offers residents easy access to shopping, dining, schools, and major freeways (710, 10, 5, 101, and 60), and a Walk Score of 86 reflects its desirable neighborhood setting. The property's strong cash flow, combined with its significant upside potential through ADU development, makes it an attractive investment prospect. The property's APN is 6319-007-024: 6319-007-025, and the permitted zoning is HPCN. The total square footage is 8,730. This is a rare opportunity to acquire a well-located, income-producing property with substantial growth potential in a thriving Los Angeles County market.