Exceptional Multi-Family Investment Opportunity in Montclair! Discover the rare opportunity to own a 4-unit complex at 5163 Canoga Street in the heart of Montclair. This well-maintained property offers four spacious units, each featuring 2 bedrooms and 1 bath. The units are currently occupied by long-term, stable tenants, making this an excellent investment with the potential to increase income by stabilizing rents and achieving a strong cap rate. The property has been thoughtfully updated, with the entire roof recently replaced, ensuring minimal maintenance for years to come. The complex also benefits from copper plumbing throughout and a newer water heater, adding to the overall value and appeal. Some of the kitchen cabinets have been remodeled, offering a modern touch that enhances the living experience for tenants. Each unit comes with its own single-car garage, conveniently located at the rear of the property with alley access, while ample street parking is available for guests. An on-site laundry room, equipped with an owned washer and dryer, provides additional convenience for residents. Situated in a prime location, the property is just moments away from Central Avenue, the 10 Freeway, and Montclair Plaza, making it ideal for tenants seeking easy access to shopping, dining, and entertainment. Families with children will also appreciate the excellent Montclair schools nearby. This property presents a unique opportunity to invest in a stable, income-generating asset with significant potential for rent growth. Showings are available upon submission of an offer, subject to interior inspection. Don't miss your chance to secure this exceptional investment property in a highly desirable Montclair location!
Courtesy: Crest Sotheby's International Realty
This well maintained collection of 12 unit bungalow style apartments consists of 6 buildings each with 2 units in a gated community with private garages, patios and ample parking. Each unit is 2 bedroom/1 Bathroom with indoor washer and dryer and HVAC units. In past 12 months partial to full remodels done on 6 units along with many other capital upgrades. Most of the rents are also at or above market value with great tenants.
Montclair is located in California. Montclair, California has a population of 37,871. Montclair is less family-centric than the surrounding county with 31.62% of the households containing married families with children. The county average for households married with children is 33.94%.
The median household income in Montclair, California is $67,483. The median household income for the surrounding county is $70,287 compared to the national median of $69,021. The median age of people living in Montclair is 32.5 years.
The average high temperature in July is 91.4 degrees, with an average low temperature in January of 42.3 degrees. The average rainfall is approximately 16.8 inches per year, with 0 inches of snow per year.
