Ocean View Gardens — Sale in Montrose, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Montrose, CA 91020

Investment Figures

Cap rate
5.27%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to announce the opportunity to purchase 4439 Ocean View Boulevard, a 20-unit multifamily property located in Montrose, CA, an unincorporated city in Los Angeles, CA. Mid-sized multifamily properties rarely become available within the coveted La Crescenta-Montrose-La Canada corridor, with only six other properties with 20+ units having sold over the past 20 years. Nestled between the Verdugo Mountains and the San Gabriel Mountains, these small cities span nearly the entirety of developable land in the area, limiting the potential for construction of new, competing apartment properties. This, in turn, benefits the owners of existing multifamily properties, who enjoy higher rental demand as a result of these supply constraints. Attractively priced at a 5.27% CAP Rate while similar properties sold in the immediate area have averaged a 4.07% CAP Rate over the past year, the property provides immediate cash flow with an opportunity to further improve cash flow by recapturing the projected rent upside. The building contains mostly copper plumbing while the owner has already upgraded the main electrical panel and completed the seismic retrofit repairs, helping a new investor to save on both insurance and maintenance expenses. Situated just one block from shopping and dining destinations along Foothill Boulevard, the property also provides tenants convenient access to Downtown Montrose, including Trader Joe’s and the weekly Farmer’s Market at The Montrose Shopping Park along Honolulu Avenue. Residents are drawn to the area’s small town vibes, while still enjoying easy access to the job market and amenities of the Los Angeles metro area. Several highly-rated schools in the immediate area help to attract families and long-term tenants as well. Investment Highlights: • Extremely Rare Offering -- Only Six Sales of 20+ Unit Multifamily Properties in La Crescenta-Montrose-La Canada Corridor in Past 20 Years • Attractively Priced at a 5.27% CAP Rate W

Market Context

This multifamily in Montrose, CA is listed for sale. It is offered at an approximate 5.3% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 86 days. Compare it against other multifamily listings for sale in Montrose, CA — view the full market.

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