CA > Arcadia
Arcadia, CA 91007,601 Cornell Dr
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Brian Piper

Brian Piper

+1(442) 282-2233
$ 3,000,000
Est. payment | /mo

6,944 SqFt

Save
$ 3,000,000
Est. payment | /mo
Save

6,944 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,944 sqft

Price per Sqft $432

MLS Listing ID 25503039

Year Built 1953

Lot Size 0.494 Acres

Property Sub-Type Multi-Family

Property Description

Comprised of two single-story buildings built in 1953 on 21,514 square foot R3 lot, 601-605 Cornell Drive is a 12-unit multifamily property with a total building size of 6,944 square feet. 601-605 Cornell Drive boasts a unit mix of all one-bedroom/one-bathroom units. Each unit is equipped with its own water heater, wall units for heating and cooling, and dual entrances. With current rents conservatively 55% below market, and further upside following complete unit renovations, a new owner will be able to immediately create value with this unique asset. An investor should also explore development opportunities as the zoning allows for up to one unit per 1,089 SF of lot size before any density bonuses (buyer must verify). The property is subject to AB 1482, but there are no other local rent control restrictions.

Location

State CA

County Los Angeles

Area Arcadia

Zoning ARR3*

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall Unit(s)

Fireplaces Type None

Equipment Range/Oven

Exterior

Parking Features Garage - 4+ Car, Garage - 1 Car, Attached

Garage Spaces 9.0

Pool None

Waterfront Description None

Building

Story 1

Level or Stories One

Structure Type Frame, Stucco

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by CB Richard Ellis, Inc.

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601 Cornell Dr