101 East Alhambra Road Alhambra, CA 91801
8,015 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active Under Contract
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
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 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
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944