1517 Lovell Ave., Arcadia, California 91007, Arcadia, 91007 - 4 bed, 3 bath
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Arcadia, California 91007
This Multi-Dwelling Development Asset is listed at $1,788,000, representing a strategic land acquisition near its $1,689,098 Fair Market Value. Featuring an expansive 18,216 sq. ft. lot and a Condition Rating of 5, the property offers significant value-add potential through the redevelopment of its three existing units. With Mountain Views and placement in the elite Baldwin Stocker Elementary boundary, the site supports high rental demand and long-term appreciation. This is a premier project for Luxury Home Developers or Value-Add Investors seeking a high-utilization parcel with multiple income streams.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1517 Lovell Ave. Subject | $1,788,000* List Price | 4 | 3 | 2,134 | $792 | - |
A 630 W Longden Sold | $1,750,000 | 3 | 2 | 1,866 | $938 | 0.5 mi |
B 1010 Park Avenue Sold | $2,185,000 | 5 | 3 | 2,265 | $965 | 0.8 mi |
C 182 W Wistaria Sold | $2,100,000 | 3 | 3 | 2,689 | $781 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1953, this multi-dwelling property is marketed primarily as a development and investment opportunity, suggesting the existing structures have reached the end of their functional lifespan. The presence of window AC units indicates a lack of modern central HVAC systems, and the absence of interior photos of the kitchens and bathrooms typically points to outdated or distressed conditions. The listing's emphasis on 'reimagining' the site or building a 'custom estate' confirms that the current improvements require substantial rehabilitation to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 18216, living area = 2134.
The massive 18,216 sq. ft. lot offers rare development potential for a custom estate or multi-unit project in a high-demand Arcadia neighborhood.
Featuring three separate living structures, the property provides immediate rental income or versatile options for multi-generational living and guest accommodations.
The property is sold with tenants in place, which may complicate financing for some buyers and delay immediate possession or redevelopment plans.
With the original structures dating back to 1953, the property likely requires significant modernization or a complete rebuild to maximize its market potential.
Exceptional Investment & Development Opportunity in Prime Arcadia Location Rare opportunity to acquire a unique multi-dwelling property situated on an expansive 18,216 sq. ft. lot (approx. 90’ x 200+), ideally oriented facing east. Located in the highly desirable Baldwin Stocker Elementary boundary (buyer to verify with the City and Arcadia Unified School District), this property offers tremendous potential for builders, investors, or end-users seeking flexibility. The property features three separate living structures: • A charming front ranch-style home with 2 bedrooms and 1 bathroom • An adjacent guest unit offering 1 bedroom and 1 bathroom, ideal for extended family or additional rental income • A rear residence with its own private yard, featuring 2 bedrooms and 1 bathroom, providing excellent privacy and strong income potential Surrounded by mature shade and fruit trees, the lot offers a serene setting with substantial space to reimagine, expand, or build new. Whether you choose to develop, create a custom estate, or live in one unit while generating income from the others, the possibilities here are truly exceptional. Situated in a central Arcadia location near top-rated schools, shopping, dining, and transportation, this is a rare chance to secure a large parcel with multiple income streams in a premium neighborhood. Property is tenant-occupied and will be sold with tenants in place. Accepted offer subject to interior inspection only, please do not walk the property or disturb occupants.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,134 | 2,978 | 33% |
| Lot Size | 18,216 | 11,396 | 80% |
| Price | $1.79M | $2.19M | 29% |
| Price per sq ft | $838 | $730 | 75% |
| Built year | 1953 | 1959 | 36% |
| HOA | $0 | $0 | 50% |
| Days on market | 13 | 166 | 2% |
Apr 9, 2026
$1,788,000
Initial Listing