Residential Income Details
Triqor Group is pleased to present Tribeca Apartments, a 96-unit garden-style apartment community located in Azusa, California. Tribeca was built in 1960, boasting well designed, spacious units with many units having been upgraded to earn premium rents. New ownership will be able to continue the proven model with the remaining units and further boost NOI growth. In addition, the buyer can take advantage of assuming the in-place loan which is better than the current market financing. Tribeca Apartments offers an astute investor the opportunity to purchase a well located, well-maintained,institutional quality asset with over 10% upside in rents and a mid-5% cap rate on market.
The Tribeca Apartments is strategically located near Interstate 210 with frontage on Azusa Ave, the city' s major north/south thoroughfare. The property is 3.5 miles east of the 605 Freeway and 5 miles west of the 57 Freeway. The property is surrounded by major employment, retailers and a rapidly growing population. Additionally, Tribeca is in close proximity to higher education institutions including Azusa Pacific University and Citrus College. Tribeca is 1 mile from the new Downtown Azusa train station for the Foothill Gold Line, further connecting tenants to Downtown LA.
|Number of Units||96|
|Listing Brokerage||Triqor Group|
|Listing Agent||Chris Keramati|
|Listing Agent BRE #||01702116|
|Appliances||Gas Oven,Gas Stove|
|Parking||Carport,Covered Parking,Uncovered,On Site|
|Pool||Community Pool,In Ground|
Based on information from California Regional Multiple Listing Service, Inc. as of Monday, October 2, 2017.
This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.
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