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Listed by Handoko Chen • Growth Investment Group Pasade
$ 5,150,000
Est. payment /mo
Pending
601 N Stoneman Avenue Alhambra, CA 91801
13,436 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 13,436 sqft
Price per Sqft $383
MLS Listing ID CRAR25169737
HOA Y/N No
Year Built 1965
Lot Size 0.334 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
Offered for sale for the First Time ever, and with 5.26% CAP Rate, we are proud to present 601 N. Stoneman Ave., Alhambra. A pride-of-ownership very-well-maintained 14-unit value add deal located in north Alhambra and just steps away from downtown Alhambra on Garfield Ave & Main St. First time for Sale ever, the property is situated on a corner lot 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), Alhambra Park, schools, churches, downtown Alhambra on Main Street, and easy access to FWY 10 and FWY 110 via Fremont Ave. 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 near 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 actual CAP Rate of 5.26% which is much higher than your typical north Alhambra apartments (competing properties are offering 3.5%-4.5
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Vinyl, Wood
Fireplace No
Laundry Common Area, Other
Exterior
View None
Building
Lot Description Corner Lot, Level, Other
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