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420 N Alameda Avenue, Azusa, California 91702, Azusa, 91702 - bed, bath

420 N Alameda Avenue, Azusa, California 91702 home-pic-0
ACTIVE$1,225,000
420 N Alameda Avenue, Azusa, California 91702
0Bed
0Bath
2,492Sqft
7,000Lot
Year Built
1953
Close
-
List price
$1.23M
Original List price
$1.23M
Price/Sqft
$492
HOA
-
Days on market
-
Sold On
-
MLS number
P1-20189
Home ConditionPoor
Features
Good View: None
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.23M(50th), sqft - 2492(33th), beds - undefined(50th), baths - undefined(50th).

Excellent investment opportunity in one of the most desirable Azusa neighborhoods, close to the 210 Fwy. Three 2-bedroom/1bathroom units. The two attached front units were recently painted, and the recently completed detached 2+1 ADU unit was completed in 2023. All units are presently rented with good rental income and room for upside potential. There are separate laundry rooms for each unit. Near the newly redeveloped Azusa Town Center, with shops, restaurants, and the Gold Line Metro Station. Quiet residential neighborhood with nearby access to the 210, 605 and 57 freeways. The new detached rear unit is a 2+1 ADU. Sale is subject to seller's 1031 exchange at no cost to the buyer. Do not disturb tenants. Call L/A for questions. L/A may assist with financing arrangements at discount to buyer.

Condition Rating
Poor
The property consists of three units, including a newly completed ADU in 2023. However, the provided interior images, likely of the two older attached units (built in 1953), reveal a significantly outdated condition. The kitchen features very old yellow cabinets, dated laminate countertops, old linoleum flooring, and an older white stove, suggesting a renovation, if any, occurred 30-50+ years ago. The dining area shows popcorn ceilings, an outdated light fixture, and a window AC unit, indicating a lack of modern systems. While the ADU is new, the visible condition of the main units' kitchens and bathrooms (implied) requires substantial rehabilitation to meet current quality standards and styles.
Pros & Cons

Pros

Excellent Investment Opportunity: The property is explicitly marketed as an 'Excellent investment opportunity' with 'good rental income and room for upside potential', indicating strong financial prospects.
New ADU Unit: A recently completed detached 2+1 ADU unit (2023) significantly enhances rental income potential and overall property value.
Strategic Location: Located in a desirable Azusa neighborhood, close to the 210, 605, and 57 freeways, the newly redeveloped Azusa Town Center, and the Gold Line Metro Station, offering excellent connectivity and amenities.
Multiple Income-Generating Units: Comprises three 2-bedroom/1-bathroom units, providing diversified rental income streams, each with separate laundry facilities for tenant convenience.
Recent Unit Updates: The two attached front units were recently painted, suggesting some level of maintenance and readiness for tenants.

Cons

1031 Exchange Contingency: The sale is subject to the seller's 1031 exchange, which, while at no cost to the buyer, can introduce complexities and potential delays in the closing process.
Tenant Occupied / Limited Access: The property is tenant-occupied with a 'do not disturb tenants' clause, which may limit the buyer's ability to conduct thorough inspections or showings.
Lack of Detailed Financials: While 'good rental income' is mentioned, specific current rental income figures and expense details are not provided, requiring further due diligence from the buyer to assess true ROI.

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