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Sold on 03/10/2025

601 Cornell Dr, Arcadia, CA 91007

  • $3,478,398

    Last sold 03/10/2025 for $3.1M

  • —

    bed

  • —

    bath

  • 6,944

    Sqft ($446/Sqft)

Multi-family not for sale
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About 601 Cornell Dr

Property type Multi-family
Neighborhood
Year built 1953
HOA fee $0/month
Lot size 0.49 Acre
Movoto estimate
Rental estimate
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.
Listed by
Listing Agent - Priscilla Nee
Listing Office - CB Richard Ellis, Inc.
Source: The MLS mls logo
MLS#25503039 • last updated 1 year ago
Movoto checked The MLS for data 4 minutes ago
Overview
Levels/Style One
MLS # 25503039
Type Residential Income
Status Sold
SqFt 6944
Lot Size (SqFt) 21514
Year Built 1953
Interior
Fireplace Desc None
Windows Double Pane Windows
Exterior
Exterior Frame, Stucco
# Parking Spaces 9
Parking Desc Garage - 4+ Car, Garage - 1 Car, Attached
Add'l Structures None
Amenities / Utilities
Equipment Range/Oven
Pool None
Location
County Los Angeles
Waterfront None
Zoning ARR3*
APN 5775-027-004
Multifamily Details
Tenant Pays Gas, Electricity
Unit 1: Furnished No
Unit 1: Projected Rent 24000
Unit 1: # Beds 1
Unit 1: Rent 1291
Owner Pays Gardener, Water
Unit 1: # Baths 1
Unit Type 2106
Unit 1: Actual Rent 15494
Total # Of Buildings 2
Expense: Pest 1020
Expense: Trash 1991
Net Operating Income 99584
Expense: Gardener 4925
Expense: Insurance 10416
Expense: Maintenance 12000
Vacancy Rate 3
Gross Income 185928
Gross Operating Income 181788
Expense: Electricity 438
Gross Rent Multiplier 16.14
Expense: Gas 355
Expense: Other 3000
Expense: Licenses 500
Total Annual Expenses 82203
Expense: Water 3034
Vacancy Amount ($) 5622
Lot/ Land Details
Add'l APN False
$3.47M
Range: $3.13M-$3.82M
Last 30 days 
Rental est.: $2,457/month
Gross rent multiplier: 101.8
  • Mar 2025
    mls logo MLS # 25503039
  • Mar 10, 2025 Pending
    —
  • Feb 25, 2025 Listed
    $3,000,000
  • 601 Cornell Dr
    $3.1M
  • Arcadia
    —
  • 91007
    $1.58M -23% y/y
  • Arcadia
    $1.59M -15% y/y
No chart available
Statistics calculated by Movoto

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9/10
Holly Avenue Elementary School
public Grades K-5
Arcadia Unified School District
8/10
First Avenue Middle School
public Grades 6-8
Arcadia Unified School District
9/10
Arcadia High School
public Grades 9-12
Arcadia Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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