The Hirth Group has been exclusively selected to present the Duarte Apartments, an excellent opportunity to acquire a 30-unit courtyard-style multifamily property built in 1966, with ±23,917 of building and an oversized lot of ±52,054 square feet. 1817 2nd Street is located in a suburban neighborhood near the Historic Route 66 (Huntington Drive) in close proximity to a multitude of restaurants, bars, retail shops, hiking and biking trails that encompass the heart of Duarte, California.
The Subject Property has an excellent unit mix of two three-bedroom/two-baths, nineteen two-bedroom/one-bath, and nine one-bedroom/one-bath units. The beautifully landscaped property features two main entrances, a community pool with chaise loungers, ±52 on-site parking spaces (35 covered and 17 uncovered spaces), laundry room, controlled access to building and an on-site property manager.
With the ability to raise rents five percent (5%) plus CPI annually, 1817 2nd Street exemplifies a value-add opportunity for an astute investor to rehabilitate and reposition the property in order to add substantial value through remodeling units, exterior upgrades and improvements in order push rents to market levels.
The apartment community is located minutes from the newly adopted Duarte Station Specific Plan, Duarte Sports Park, Rancho Duarte Golf Club, Santa Fe Dam Recreation Area, Northview Park, Royal Oaks Park, and Monrovia Canyon Park and the City of Hope. The property is also just a few minutes away from Foothill Freeway ( 210 Freeway).
