Thank you
Ryan Loria
Triqor Group
949-756-3232
We are pleased to present First Street Apartments, a 16-unit apartment complex in the desirable city of Alhambra, CA. The property is located near Downtown Alhambra and borders the affluent communities of South Pasadena and San Marino. The property features an ideal unit mix consisting of one and two-bedroom units, gated entry, covered parking, owned laundry facility, individual gas and electric meters, and partial copper plumbing. The asset has been meticulously maintained and professionally managed with upgrades including a new Roof (2016), exterior paint on building and railings, new washers and dryers, and upgraded exterior lighting. Recently renovated units have laminate wood flooring, granite countertops, stainless steel appliances, and new A/C and heating. In-place rents generate a current cap rate of 4.1%, 5.4% with market rents offering an investor approx. 20% rental upside. This is a rare and unique opportunity for an investor to acquire a well maintained asset, in a highly sought-after location.
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Water Source : Public
Sewer : Public Sewer
Year Built: 1959
Building Area Total: 10,911
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3376
Lot Size Source: Public Records
Lot Size Square Feet: 14705
Original List Price: 5,800,000
Listing Contract Date: 2024-04-05
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5321020021
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 601 - Alhambra
Postal Code Plus 4: 1365
Directions: Driving North on N. Atlantic Blvd., Turn right onto N. 1st St., Property is on your left.
Zoning: ALRPD*
Source Property Type: Residential Income
Area: 601 - Alhambra
Property SubType: Apartment
Property Age: 65
Common Walls: 2+ Common Walls
Structure Type: Apartment
Year Built Source: Public Records
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
437 S 1st Street, Alhambra, CA,91801 | $1,950,000 | 7 | 7 | 3,662 | 7499 Sqft |
989 E Beacon Street, Alhambra, CA,91801 | $530,000 | -- | -- | -- | 8400 Sqft |
1121 N Hidalgo Avenue, Alhambra, CA,91801 | $2,720,000 | 4 | 3 | 3,676 | 9268 Sqft |
274 Hampden, Alhambra, CA,91801 | $899,000 | 3 | 1 | 1,294 | 5373 Sqft |
1904 Pepper Street, Alhambra, CA,91801 | $1,888,000 | -- | -- | 3,440 | 8298 Sqft |
78 E Bay State Street #1E, Alhambra, CA,91801 | $799,000 | 2 | 2 | 1,650 | 28935 Sqft |
200 206 Elgin Street, Alhambra, CA,91801 | $3,499,999 | 16 | 12 | 7,424 | 6413 Sqft |
112 N Huntington Drive, Alhambra, CA,91801 | $2,450,000 | -- | -- | 3,784 | 10574 Sqft |
809 S 4th Street #8, Alhambra, CA,91801 | $599,000 | 2 | 1 | 884 | -- |
420 S 6th Street, Alhambra, CA,91801 | $824,999 | 3 | 2 | 1,496 | 7934 Sqft |
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ByOwner last updated this listing 05/20/2024 @ 02:54
MLS: PW24067638
LISTED BY: Ryan Loria, Triqor Group
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.