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116 Beardsley Ave
For Sale $1,650,000
$1,650,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 19,602 Sq Ft
Description
This property offers an exceptional high cap rate of 8.6% and immediate opportunity to increase cash flow. Current rents are below market and poised for a 10% increase in 2025, with market rents reaching up to $1,375 per month, unlocking substantial revenue potential.
Each unit comes with separate utility meters, making it easier to manage costs, while the roof-mounted AC units with central heating and air conditioning provide added convenience and energy efficiency. Most units have been updated in recent years. All units come with a parking, plus 2 guest parking spots; easily reline the lot to create even more parking spaces to increase tenant satisfaction and appeal. This is a rare opportunity for investors looking for a property with strong income growth, low operating costs, and increasing market demand. The laundry room is not being used; this can add more income if operated.
The street is part of the city's beautifying project adding additional value for the years to come. Additionally, two new apartment buildings are planned in the area, boosting future demand and property value. Close to shopping and freeways, the building has a very high occupancy rate and quick turnover.
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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 | $1,650,000 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1969 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 11425041002 |
| MLS # | GD24198522 |
| Property ID | 320938389 |
| Lot Sqft | 19,602 |
| Zoning | R-2 |
| Total Units | 14 |
| Days on Market | 464 |
| Original List Price | $1,650,000 |
| Date Updated | October 10, 2024 |
| Date Created | September 02, 2024 |
Listing Provided By
Karine Haneyan an agent of . Lic #02100210
© 2025 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of October 10, 2024 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT