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Key Details
Sold Price $2,385,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 5,300 sqft
Price per Sqft $450
MLS Listing ID CRWS24049009
Sold Date 04/15/24
HOA Y/N No
Year Built 1989
Lot Size 8,473 Sqft
Acres 0.19
Property Description
A very well located and maintained property in the City of North Alhambra. The property has been in the same ownership since 1987 (37 years ownership – current owner are the heirs); thus presents a rare opportunity for the right buyer to acquire this beautifully located property in North Alhambra with attractive going in CAP Rate. This property comprises five individual condo style-like units, each offering its own unique features and comfortable living spaces. With a combination of versatile layouts, convenient amenities, and a prime location, this property is a rare find in the market. Building is in immaculate condition and very well kept. Each unit consists of 2 beds and 1.5 baths, central heating and air, and a detached automatic two car garage. There is no local rent control which allows maximum rent increase under AB1482 (CPI + 5% = 10% maximum increase). All current tenants are on a month-to-month agreement which translates to significant rental upside. It is situated on a quiet residential street in Alhambra, 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, H-Mart), Lacy Park, In N Out, schools, churches, downtown Alhambra on
Location
State CA
County Los Angeles
Area Listing
Zoning ALRP
Interior
Heating Other
Cooling Central Air
Fireplace No
Laundry Community Facility, Laundry Room
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 5322015074
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Bought with ArthurTang