101 E Alhambra RD new Save Request In-Person Tour Request Virtual Tour
Alhambra,CA 91801
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25134597
Construction Status Repairs Cosmetic,Updated/Remodeled
HOA Y/N No
Year Built 1964
Lot Size 9,604 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
Cooling Wall/Window Unit(s)
Flooring Vinyl,Wood
Fireplaces Type Family Room
Fireplace Yes
Appliance Electric Cooktop,Electric Oven
Laundry Common Area
Exterior
Parking Features Assigned
Carport Spaces 9
Fence None
Pool None
Community Features Valley
Utilities Available Cable Connected,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected
View Y/N No
View None
Roof Type Asbestos Shingle
Total Parking Spaces 16
Private Pool No
Building
Lot Description Corner Lot,Lawn,Landscaped,Near Public Transit,Rectangular Lot,Street Level
Faces South
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Mid-Century Modern
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic,Updated/Remodeled
Others
Senior Community No
Tax ID 5322031006
Energy Description 1129.0
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard