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Listed by Han Chen • Growth Investment Group Pasade
$2,800,000
Est. payment /mo
9,603 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR25134597
Year Built 1964
Lot Size 9,603 Sqft
Source California Regional MLS
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-
Location
State CA
County Los Angeles
Area 601 - Alhambra
Rooms
Kitchen Other, Oven - Electric
Interior
Heating Radiant
Cooling Window / Wall Unit
Laundry Laundry Area, Washer/Dryer - Leased, Community Facility
Exterior
Parking Features Assigned Spaces
Garage Spaces 16.0
Pool 31, None
View None
Roof Type Shingle
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 5322031006
Special Listing Condition Not Applicable
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Joel Martinez
Property Connection Specialist | License ID: 02338033
Property Connection Specialist License ID: 02338033