431 2Nd AveArcadia, CA 91006

Property Details for 431 2Nd Ave

Year built

1987

Lot size

22,641.00 AC

Property size (Sq ft)

22,641 SF

Property type

Self storage facilities

Description

This exceptional self-storage facility, Foothill Mini Storage, presents a compelling investment opportunity in Arcadia, California. Boasting 22,641 square feet across seven buildings on a 2.2-acre lot (APN 894-0382-016), this property offers 171 units with an impressive 87% occupancy rate. Built in 1987, the facility benefits from a strong 7.42% cap rate and a price per square foot of $234.09, reflecting a total asking price of $5,300,000. The property enjoys exceptional visibility, situated along the I-210 Freeway, exposing it to over 265,000 vehicles daily. Located in a densely populated area, the 3-mile radius encompasses a population of 138,844 residents, serving Arcadia, Pasadena, Sierra Madre, and Monrovia. Favorable rental rates, exceeding $3.00 per rentable square foot, contribute to the property's strong financial performance. Prospective buyers should consult their tax advisors regarding 1031 exchange suitability and property tax implications, as the current lease terms may affect both. The seller does not guarantee future property tax assessments.

Location Insight

City

Arcadia

County

Los Angeles

State

California

Latitude

34.1451

Longitude

-118.027

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