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    314 N Electric Ave

    Alhambra, CA 91801
    • $2,288,000
    • STATUS: Active
    • ON SITE: 7 days
    • MLS #: 21-781420
    UPDATED: 8 min ago
    $2,288,000
    • 12
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,096
      SQFT
    • $375
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:
    Area:

    School Ratings & Info

    Description

    The Pacific Partners of Colliers International are pleased to present for sale this 6-Unit multi-family apartment building located at 314 N Electric Avenue, Alhambra. The property is just north of Alhambra Downtown Main Street in a quiet residential neighborhood. It consists of one two-story building with large gated front yard and parking/storage in the rear. The building totals 6,096 rentable square feet situated on an approximately 7,863 square foot rectangular lot. Originally built in 1965, this well-maintained multi-family asset has a unit mix of one 1-bedroom/1-bathoom, two 2-bedroom/1-bathoom, two 2-bedroom/1.5-bathoom townhouse, and one 3-bedroom/2.5-bathoom townhouse units with 100% occupancy. Rental rates at this property are approximately 10% below market rate. The property has the potential to achieve over 4.00% CAP rate with updated market rents in a desirable SoCal location. Amenities include gated front yard, onsite parking and storage in the rear of the property. There is a laundry room onsite currently used for storage which offers an investor the opportunity to collect additional income by installing laundry machines. In addition, the building exterior is freshly painted with great curb appeal. Drive-by only, do not contact tenants. Make offer subject to inspection.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-16T11:42:39.033. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.desertarealuxuryhomes.com/homes/121235729
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    314 N Electric Ave Alhambra, CA 91801

    • Price: $2,288,000
    • Status: Active
    • Updated: 8 min ago
    • MLS #: 21-781420
    12
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    6,096
    SQFT
    $375
    $/SQFT
    1965
    Built
    Neighborhood:
    Alhambra
    County:
    Los Angeles
    Area:
    Alhambra
    Property Description
    The Pacific Partners of Colliers International are pleased to present for sale this 6-Unit multi-family apartment building located at 314 N Electric Avenue, Alhambra. The property is just north of Alhambra Downtown Main Street in a quiet residential neighborhood. It consists of one two-story building with large gated front yard and parking/storage in the rear. The building totals 6,096 rentable square feet situated on an approximately 7,863 square foot rectangular lot. Originally built in 1965, this well-maintained multi-family asset has a unit mix of one 1-bedroom/1-bathoom, two 2-bedroom/1-bathoom, two 2-bedroom/1.5-bathoom townhouse, and one 3-bedroom/2.5-bathoom townhouse units with 100% occupancy. Rental rates at this property are approximately 10% below market rate. The property has the potential to achieve over 4.00% CAP rate with updated market rents in a desirable SoCal location. Amenities include gated front yard, onsite parking and storage in the rear of the property. There is a laundry room onsite currently used for storage which offers an investor the opportunity to collect additional income by installing laundry machines. In addition, the building exterior is freshly painted with great curb appeal. Drive-by only, do not contact tenants. Make offer subject to inspection.
    Exterior Features

    Cross Streets Near intersection Of Main St & Atlantic Blvd Lot Size Area 7864 Other Structures None Parking Garage Carport Total Parking 9

    Interior Features

    Baths Total 10.00 Cooling Air Conditioning Equipment Gas Or Electric Dryer Hookup Heating Wall

    Property Features

    Assessed Total Value 747319 Gross Income 124920 Gross Operating Income 121172 Land Lease Type Fee Like Units1 1 Like Units2 2 Like Units3 2 Like Units4 1 Net Operating Income 75537.00 Number Of Buildings 1 Number Of Units 6 Owner Pays WaterGardener Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Tenant Pays ElectricityGas Total Annual Expense 45635 Type Of Units Apartment Year Built Source Vendor Enhanced Zoning Alrpd*

    Listing provided courtesy of Edward Pan DRE#01894476 of Colliers International Greater Los Angel.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-16T11:42:39.033. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    74199 El Paseo, Suite 200
    Palm Desert CA, 92260