Mid-sized multifamily properties rarely become available within the coveted La Crescenta-Montrose-La Canada corridor, with only six other properties with 20+ units having sold over the past 20 years. Nestled between the Verdugo Mountains and the San Gabriel Mountains, these small cities span nearly the entirety of developable land in the area, limiting the potential for construction of new, competing apartment properties. This, in turn, benefits the owners of existing multifamily properties, who enjoy higher rental demand as a result of these supply constraints. Attractively priced at a 5.27% CAP Rate while similar properties sold in the immediate area have averaged a 4.07% CAP Rate over the past year, the property provides immediate cash flow with an opportunity to further improve cash flow by recapturing the projected rent upside. The building contains mostly copper plumbing while the owner has already upgraded the main electrical panel and completed the seismic retrofit repairs, helping a new investor to save on both insurance and maintenance expenses. Situated just one block from shopping and dining destinations along Foothill Boulevard, the property also provides tenants convenient access to Downtown Montrose, including Trader Joe's and the weekly Farmer's Market at The Montrose Shopping Park along Honolulu Avenue. Residents are drawn to the area's small town vibes, while still enjoying easy access to the job market and amenities of the Los Angeles metro area. Several highly-rated schools in the immediate area help to attract families and long-term tenants as well.
Listing agent:
Roderick 'Rick' Raymundo
License #01357019
Marcus & Millichap
4439 Ocean View is a Residential Income property located in Montrose, California, featuring a 0.452 acre lot, 16,338 sqft, 26 bedrooms, MLS #26827021.
Based on information from one of the following Multiple Listing Services: CRMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Trestle and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements.
Data last modified: 2026-04-29 23:15:53
