
Azusa, California 91702
This four-unit multifamily asset presents a High-Potential Investment Opportunity with a List Price of $1,050,000—positioned well above the $864,207 Fair Market Value by 21%. While the property requires capital investment due to its Condition Rating of 5, the MOD Zoning and proximity to Azusa Pacific University ensure consistent rental demand. The asset features separate utility metering and tuckunder parking, providing operational efficiency. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers seeking to capitalize on the ongoing revitalization of the San Gabriel Valley.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 602 Cedarglen Subject | $1,050,000* List Price | 0 | 0 | 2,591 | $334 | - |
A 509 N Alameda Avenue Sold | $964,800 | 0 | 0 | 2,550 | $378 | 0.6 mi |
B 403 N San Gabriel Avenue Sold | $813,200 | 4 | 3 | 2,727 | $298 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1963 (61 years old), this property exceeds the 30-50 year threshold for a 'poor' rating with no mention of recent renovations to kitchens, bathrooms, or major systems in the description. The exterior shows significant weathering and dated architectural elements, suggesting the interior units likely require a full rehab to address safety, structural, and aesthetic obsolescence.
The property's proximity to Azusa Pacific University and Citrus College, along with easy access to the Metro A Line, ensures a consistent and strong pool of potential tenants.
Being exempt from local city rent control and only subject to statewide AB 1482 regulations offers investors greater flexibility in rent increases and management.
The units are separately metered for gas and electricity, which minimizes the owner's utility overhead and simplifies the expense structure for the investor.
The property consists exclusively of one-bedroom units, which may limit the tenant base to individuals or couples and potentially lead to higher turnover compared to family-sized units.
Built in 1963, the asset may require more frequent maintenance or capital expenditures for system upgrades to remain competitive with newer transit-oriented developments in the area.
We are pleased to present the opportunity to acquire a four-unit multifamily investment property located at 602 Cedarglen Drive in Azusa, California. Situated on a corner lot within an established residential neighborhood, the property offers investors the opportunity to acquire a well-located apartment asset in the San Gabriel Valley with strong underlying rental demand and proximity to major educational and employment drivers. Built in 1963, the property consists of approximately 2,591 square feet of building area situated on a 0.14-acre MOD (Moderate Density Residential) zoned lot. The property is comprised of one building featuring an all one-bedroom / one-bathroom unit mix averaging approximately 650 square feet. Additional property features include four tuckunder carport parking spaces that provide covered tenant parking. The property is separately metered for gas and electricity, while ownership currently pays for water, sewer, and trash services. The property benefits from a desirable Azusa location with convenient access to surrounding retail, dining, and transportation amenities. The asset is located near Azusa Pacific University and Citrus College, two major educational institutions that contribute to consistent rental demand within the area. Residents also benefit from proximity to the Metro A Line (Gold Line), providing connectivity throughout the San Gabriel Valley and into Downtown Los Angeles. Additionally, the property offers convenient access to the 210 Freeway, allowing tenants efficient access to surrounding employment hubs across Los Angeles County and the Inland Empire. Azusa continues to experience ongoing revitalization through new mixed-use, residential, and transit-oriented development projects throughout the city, supporting long-term growth and housing demand within the submarket. Overall, the offering presents investors with the opportunity to acquire a multifamily asset in a transforming San Gabriel Valley submarket benefiting from continued mixed-use development, transit-oriented growth, and expanding housing demand. With proximity to higher education institutions, regional transportation infrastructure, and ongoing city revitalization efforts, the property is well positioned to benefit from Azusa’s long-term economic and residential growth trajectory. The property is subject only to California statewide rent cap regulations under AB 1482 and is not subject to any local city rent control ordinance.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,591 | 2,550 | 60% |
| Lot Size | 6,012 | 6,898 | 20% |
| Price | $1.05M | $964.8K | 60% |
| Price per sq ft | $405 | $405 | 50% |
| Built year | 1963 | 1963 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 85 | 20% |
May 23, 2026
$1,050,000
Initial Listing
Jan 12, 2017
$650,000
Public Record
Apr 25, 2013
$412,000
Public Record