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4439 Ocean View Blvd
Off-Market Call for Pricing
Call for Pricing
- 20 Units
- 16,338 Sq Ft
- 19,700 Sq Ft
- Unknown Cap Rate
Description
Mid-sized multifamily properties rarely become available within the coveted La Crescenta-Montrose-La Canada corridor, with only six other properties with 20+ units having sold over the past 20 years. Nestled between the Verdugo Mountains and the San Gabriel Mountains, these small cities span nearly the entirety of developable land in the area, limiting the potential for construction of new, competing apartment properties. This, in turn, benefits the owners of existing multifamily properties, who enjoy higher rental demand as a result of these supply constraints. Attractively priced at a 5.27% CAP Rate while similar properties sold in the immediate area have averaged a 4.07% CAP Rate over the past year, the property provides immediate cash flow with an opportunity to further improve cash flow by recapturing the projected rent upside. The building contains mostly copper plumbing while the owner has already upgraded the main electrical panel and completed the seismic retrofit repairs, helping a new investor to save on both insurance and maintenance expenses. Situated just one block from shopping and dining destinations along Foothill Boulevard, the property also provides tenants convenient access to Downtown Montrose, including Trader Joe's and the weekly Farmer's Market at The Montrose Shopping Park along Honolulu Avenue. Residents are drawn to the area's small town vibes, while still enjoying easy access to the job market and amenities of the Los Angeles metro area. Several highly-rated schools in the immediate area help to attract families and long-term tenants as well.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $5,900,000 |
| Property Type | Multi-Family |
| Usable Sqft | 16,338 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1962 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 5810009034 |
| MLS # | 26827021 |
| Property ID | 292741973 |
| Lot Sqft | 19,700 |
| Zoning | LCR3YY |
| Total Units | 20 |
| Days on Market | 60 |
| Original List Price | $5,900,000 |
| Date Updated | June 26, 2026 |
| Date Created | April 29, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $1,949 | $31,500 |
| Unit #2 | 2 | 1.00 | $2,432 | $16,770 |
| Gross Income (Yr) | $ 493,997 |
| Operating Expenses | $ 183,170 |
| Net Income (Yr) | $ 310,827 |
| Cap Rate | 5.27% |
Listing Provided By
Roderick 'Rick' Raymundo an agent of . Lic #01357019
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