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601 Cornell Drive

Arcadia, CA 91007

– beds
– baths
– sqft
~1/2 acre lot
1953 build
– on site

Comprised of two single-story buildings built in 1953 on 21,514 square foot R3 lot, 601-605 Cornell Drive is a 12-unit multifamily property with a total building size of 6,944 square feet. 601-605 Cornell Drive boasts a unit mix of all one-bedroom/one-bathroom units. Each unit is equipped with its own water heater, wall units for heating and cooling, and dual entrances. With current rents conservatively 55% below market, and further upside following complete unit renovations, a new owner will be able to immediately create value with this unique asset. An investor should also explore development opportunities as the zoning allows for up to one unit per 1,089 SF of lot size before any density bonuses (buyer must verify). The property is subject to AB 1482, but there are no other local rent control restrictions.

Listed By CRMLS_CA / Priscilla Nee / CB Richard Ellis, Inc.

Last checked: Checking… • Last updated Mar 5, 2025 •

MLS# 25503039 —

The Building

Year Built:

1953
Year Built Source:

Assessor
New Construction:

No
Construction Materials:

Frame, Stucco
Building Area Total:

6944.00
Total Number Of Units:

12
# of Buildings:

2
Stories Total:

1

Interior

Levels:

One
Entry Location:

Ground Level w/steps
Window Features:

Double Pane Windows
Fireplace:

No
Fireplace:

None

Location

Directions:

Located west of Santa Anita Avenue, between Foothill Boulevard and Huntington Drive.
Latitude:

34.14672800
Longitude:

-118.03467500

The Property

Property Type:

Residential Income
Zoning:

ARR3*
Lot Size Area:

21514.0000
Lot Size Acres:

0.4939
Lot Size SqFt:

21514.00
Lot Size Source:

Assessor
Additional Parcels:

No

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

5775027004

Heating & Cooling

Heating:

1
Heating:

Wall Furnace

Appliances

Included:

Yes

The Community

Association:

No
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None
Assessments:

No

Parking

Parking:

Yes
Parking:

Garage - Single Door
Parking Spaces:

9.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
2/25/25 Feb 25, 2025	Listed / Active	CRMLS_CA	$3,000,000

Multifamily For Sale

$3,000,000

Listing provided by broker:

Priscilla Nee

CB Richard Ellis, Inc.

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This multifamily located in Arcadia, CA 91007 is currently for sale for $3,000,000. 601 Cornell Drive is a – square foot multifamily with – beds and – baths that has been on Estately for 9 days. This multifamily is in the attendance area of First Avenue Middle School, Arcadia High School, and Holly Avenue Elementary School.

Listing Courtesy of: CRMLS_CA and CB Richard Ellis, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of 00:05 on Mar 06.

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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.