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Listed by Han Chen • Growth Investment Group Pasade

$2,800,000

Est. payment - /mo

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8,015 SqFt

New

101 East Alhambra Road Alhambra, CA 91801

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Maureen Alphonso

maureenjalphonso@gmail.com +1(805) 279-6885

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Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 8,015 sqft

Price per Sqft $349

MLS Listing ID AR-25134597

Style Mid Century Modern

Year Built 1964

Lot Size 9,603 Sqft

Property Sub-Type Apartment

Property Description

Prime Value-add 8-unit in north Alhambra - walk to Downtown Alhambra, First Time for Sale Since 1972, Corner Lot with Superb Curb Appeal, Excellent unit Mix and Cash Flow. A pride-of-ownership well-maintained 8-unit value add deal located in north Alhambra and just steps away from downtown Alhambra on Garfield Ave & Main St. This is the first time this property is being offered for sale since 1972! It is situated on a corner lot and adjacent to both San Marino and South Pasadena; yet it provides convenience to tenants due to its strategic location just within minutes to many area amenities like shopping (Costco, Target), Alhambra Park, schools, churches, downtown Alhambra on Main Street, and easy access to FWY 10 and FWY 110 via Fremont Ave. This property offers investors an opportunity to buy a pride-of-ownership apartment that is very easy to manage and rent in the best location of Alhambra. It is located next to several new townhouses subdivisions providing a home-ownership atmosphere for the property. All tenants are on month-to-month rental agreement providing immediate upside on rent increases. The area does not have any local rent control (under California AB1482 rent control). The property is offered at a very attractive CAP Rate of close to 5%! The property is a two-story garden style apartment that was built in 1964. It has a large building size of ?8,015 SF which translates to large average unit size of ?1001 SF/unit. It is on a large ?9,600 SF CORNER lot. It has an excellent unit mix of one (1) x large 3bed+2bath, one (1) x 2bed+2bath, one (1) x 2bed+1.75bath, one (1) x 2bed+1bath, and four (4) x 1bed+1bath units. Most of the units have been somewhat updated with updated flooring and kitchen (buyer to verify). Each unit has through the wall A/C, radiant heating, plenty of linen cabinets, ceiling fans, dining area, and so much more. Four units have private patio/balcony and fireplaces (buyer to verify). The property is overparked with a total of 16 parking spaces provided by 9 carport spaces, 3 open spaces, and 4 tandems. There is no parking soft story retrofit requirement in Alhambra. Each unit is separately metered for electricity (all electric unit). There is a shared laundry room (laundry leased) and master water heater (gas).

Location

State CA

County Los Angeles

Area 601 - Alhambra

Zoning ALRPD*

Interior

Interior Features Balcony, Unfurnished

Heating Radiant

Flooring Vinyl, Wood

Fireplaces Type Family Room

Laundry Common Area, Community

Exterior

Parking Features Assigned

Pool None

Community Features Valley

Utilities Available Sewer Connected, Water Connected, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available

View Y/N No

View None

Building

Lot Description Corner Lot, Landscaped, Lawn, Level with Street, Lot 6500-9999, Near Public Transit, Rectangular Lot

Sewer Public Sewer

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Maureen Alphonso

Agent | License ID: 01734126

+1(805) 279-6885

101 East Alhambra Road Alhambra, CA 91801

Maureen Alphonso

Key Details

Location

Interior

Exterior

Building

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101 East Alhambra Road