148 California Street, Arcadia, California 91006, Arcadia, 91006 - bed, bath
ACTIVE$2,098,000
148 California Street, Arcadia, California 91006
0Bed
0Bath
4,857Sqft
8,179Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income Generation: The property is a fully tenant-occupied quadruplex, providing immediate and stable rental income for investors.
Top Cons:
Property Age: Built in 1965, the property is nearly 60 years old, which may imply potential for future capital expenditures on major systems (e.g., roof, plumbing, electrical) if not recently updated.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1965 (60 years old).
Condition: The property, built in 1965, is described as well-maintained externally with attractive curb appeal. However, the interior images consistently show kitchens and bathrooms that are significantly outdated, likely original or last renovated 40-50+ years ago. These areas feature vintage cabinets, laminate countertops, older white appliances, fluorescent lighting, and small square tiles. While appearing clean and functional, and the property being fully tenant-occupied, the interiors require substantial cosmetic updates to meet current aesthetic and tenant expectations. The property is aged but maintained, with major components functional but showing signs of being outdated, aligning with a 'Fair' condition.
Year Built
1965
Close
-
List price
$2.1M
Original List price
$2.2M
Price/Sqft
$432
HOA
-
Days on market
-
Sold On
-
MLS number
AR25225872
Home ConditionFair
Features
Good View:
Patio
View-
About this home
Rarely available in Arcadia, this well-maintained fourplex is an outstanding income-producing opportunity within the highly regarded Arcadia School District. The property features one spacious three-bedroom, two-bath unit with a on site laundry room, along with two comfortable two-bedroom, one-bath units and one one bed one bath unit. A community laundry facility, central air conditioning, and private patio areas for each residence enhance tenant appeal. Fully tenant-occupied, the building provides immediate rental income and long-term growth potential. With attractive curb appeal, thoughtful upkeep, and a prime location near schools, shopping, and dining, this quadplex is a rare find in a market where such properties seldom come to market.
Condition Rating
Fair
The property, built in 1965, is described as well-maintained externally with attractive curb appeal. However, the interior images consistently show kitchens and bathrooms that are significantly outdated, likely original or last renovated 40-50+ years ago. These areas feature vintage cabinets, laminate countertops, older white appliances, fluorescent lighting, and small square tiles. While appearing clean and functional, and the property being fully tenant-occupied, the interiors require substantial cosmetic updates to meet current aesthetic and tenant expectations. The property is aged but maintained, with major components functional but showing signs of being outdated, aligning with a 'Fair' condition.
Pros & Cons
Pros
Strong Income Generation: The property is a fully tenant-occupied quadruplex, providing immediate and stable rental income for investors.
Premium Location & School District: Situated in Arcadia, known for its highly regarded school district, which attracts quality tenants and supports long-term property value appreciation.
Desirable Unit Mix & Amenities: Offers a diverse unit mix (1, 2, and 3-bedroom units) catering to a broad tenant base, complemented by central air conditioning, private patios, and laundry facilities enhancing tenant appeal.
Well-Maintained Condition: Described as well-maintained with attractive curb appeal and thoughtful upkeep, suggesting lower immediate maintenance costs for a new owner.
Rare Investment Opportunity: This type of income-producing property in Arcadia is explicitly stated as 'rarely available' and 'seldom come to market,' highlighting its unique investment value and potential for long-term growth.
Cons
Property Age: Built in 1965, the property is nearly 60 years old, which may imply potential for future capital expenditures on major systems (e.g., roof, plumbing, electrical) if not recently updated.
Recent Price Reduction: The list price was recently reduced by $100,000, which could indicate a slower market response or that the initial pricing was aggressive, potentially affecting perceived value.
Undisclosed Interior Unit Condition: While the exterior is well-maintained, the description lacks specific details on the interior condition of each unit, which could vary and necessitate future renovation costs to maximize rental income or tenant satisfaction.