Alhambra, CA 91801,101 E Alhambra RD
Alhambra, CA 91801,101 E Alhambra RD
Alhambra, CA 91801,101 E Alhambra RD
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$2,800,000
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9,604 Sqft Lot
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101 E Alhambra RD Alhambra, CA 91801

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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


California Regional MLS (CRMLS)
Listed by Han Chen • Growth Investment Group Pasade • han.chen@growthinvestmentgroup.com
agent
Erick Ciprian

Agent & MLO | License ID: 01826437

+1(619) 616-0653 | ciprianhomes@gmail.com

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101 E Alhambra RD