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Listed by Handoko Chen, DRE #01749321 • Growth Investment Group Pasade
$ 4,250,000
Est. payment /mo
Price Dropped by $150K
411 N Chapel Alhambra, CA 91801
0.37 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR26073541
Style Traditional
Year Built 1963
Lot Size 0.368 Acres
Source California Regional MLS
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% Proform
Location
State CA
County Los Angeles
Area 601 - Alhambra
Rooms
Kitchen Oven Range - Electric
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Laundry Area, Washer/Dryer - Leased, Community Facility
Exterior
Parking Features Assigned Spaces
Garage Spaces 21.0
Pool 31, None
View None
Roof Type Shingle
Building
Lot Description Grade - Level
Water District - Public
Architectural Style Traditional
Others
Tax ID 5337003027
Special Listing Condition Not Applicable
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