22
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$5,300,000
Est. payment /mo
10,911 SqFt
Active
920 N 1st Street Alhambra, CA 91801
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,911 sqft
Price per Sqft $485
MLS Listing ID CL25567995
HOA Y/N No
Year Built 1959
Lot Size 0.338 Acres
Acres 0.34
Property Sub-Type Other
Property Description
Situated just two blocks south of the affluent cities of San Marino and South Pasadena, the property benefits from its location in one of the most attractive rental submarkets of the West San Gabriel Valley. Because the property is not subject to local rent control, an investor can increase rents by a greater amount each year, when compared with multifamily investments in Los Angeles and other local cities. With current rents approximately 21% below those of similar neighboring properties, a new owner may be able to add significant value while improving the building's cash flow substantially. Constructed in 1959, the two-story structure surrounds a well-landscaped, quiet courtyard atop a 14,706-square foot lot. The property has been meticulously maintained throughout its ownership, while select units have been renovated with new hardwood floors, new kitchen cabinets, and new ceiling fans. The gated complex includes eight security cameras, several of which are trained on the 16 covered parking spaces. The landlord-owned laundry facilities add an additional revenue stream. The separate gas and electricity meters, pitched roofs, and partial copper plumbing should help to reduce future expenses. Located near the corner of Huntington Drive and Los Robles Avenue, the building sits just
Location
State CA
County Los Angeles
Zoning ALRP
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5321020021
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
A FEW WORDS FROM PAST CLIENTS
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Mike & Jules Guzzardo Team With Jenny Biczkow
Realtor | r01066846,01955798,02086289