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Glen Henderson

[email protected] +1(619) 889-7646

$4,250,000

Est. payment - /mo

8 Beds

6 Baths

0.37 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR26073541

Bedrooms 8

Lot Size 0.368 Acres

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash

Property Type Res Income 2-4 Units

Property Description

First Time for Sale in 32 years - Prime 14-unit north Alhambra Value-add Opportunity - NO Local Rent Control | Walk to Downtown Alhambra | South Pasadena + San Marino Adjacent | Superb Demographics | Outstanding Unit Mix. 50% of the units are due for 8% rent increases in the next 2 months. 411 N Chapel Ave., a prime 14-unit value-add apartment community in highly sought-after North Alhambra (NO Local Rent Control). Offered for the first time in 32 years, this property sits just steps from the vibrant dining and entertainment of Downtown Alhambra and across from the popular Story Park. Bordering the premium communities of San Marino and South Pasadena, the location offers tenants unparalleled access to major retail centers, excellent schools, and key transit corridors (I-10 and I-110). This garden-style community provides investors with a straightforward value-add opportunity that is easy to manage and ready to be taken to the next level. Surrounded by newer townhouse subdivisions that provide a strong home-ownership atmosphere, the property features a stable base of long-term tenants. With no local rent control restrictions and almost all units due or about due for immediate 8% rent increases, the asset offers a clear path to stabilization at a very attractive 6.80% Proforma CAP Rate. The property is a two-story garden style apartment that was built in 1963. It has a large building size of 13,744 SF which translates to large average unit size of 980 SF/unit. It is on a large 16,018 SF lot crossing Alhambra Rd. It has an excellent unit mix of one (1) x large 3bed+1.5bath, th

Location

State CA

County Los Angeles

Zoning Assessor

Direction from Huntington Dr go south on Garfield Ave, then left on Alhambra Road and right on Chapel Ave

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 5337003027

Acceptable Financing Cash

Listing Terms Cash

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Listed by Handoko Chen, DRE#01749321 Growth Investment Group Pasade

Nearby School & Business

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

411 N Chapel Alhambra, CA 91801

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information