$2,800,000
Est. payment /mo
9 Beds
7 Baths
Active Under Contract
101 E Alhambra Road Alhambra, CA 91801
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID AR25134597
Bedrooms 9
Property Sub-Type Res Income 2-4 Units
Property Description
Offered at 5.10% CAP Rate, and First Time ever being offered for Sale, Growth Investment Group California is proud to present a 101 E Alhambra Rd., Alhambra. 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 by the same family that built the property! 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 more than 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
Location
State CA
County Los Angeles
Zoning Assessor
Direction from Huntington Dr, go south on Garfield Ave, then east on Alhambra Rd, building is corner of Alhambra Rd and Stoneman Ave
Interior
Heating Radiant
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5322031006
Virtual Tour https://www.growthinvestmentgroup.com/listingdetail.aspx?pid=10488
Listed by Han Chen Growth Investment Group Pasade