1024 S Atlantic Boulevard

    Alhambra, CA 91803
    • $4,900,000
    • STATUS: Active
    • ON SITE: 37 days
    • ID#: AR20041197
    UPDATED: 142 min ago
    $4,900,000
    • 0
      BEDS
    • 0.39
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 13,093
      SQFT
    • $374
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    1024 S Atlantic Blvd, Alhambra is a 17-unit value-add apartment with significant rental upside potential in a very strong rental market of West San Gabriel Valley. The property is uniquely situated several blocks from the burgeoning and renown Valley Blvd and the recently completed Atlantic Times Square +GG a local shopping mall complete with AMC Theater. Due to its convenient location several blocks from Valley Blvd, this property provides excellent access to myriad of restaurants, shopping, and most of the amenities the City of Alhambra has to offer. It is also close to many public transportations and is just minutes away from FWY 10 for convenient access to other parts of Los Angeles such as Downtown LA, FWY 710, and FWY 5. The property is a garden style apartment that was built in 1960 and situated on a +-17,143 sqft lot. It has center courtyard and offers excellent unit mix of one 3bed+2bath, eight 2bed+1bath, and eight 1bed+1bath units. Most of the tenants are long-time tenants and the current rental income are significantly below market. Each unit is separately metered for electricity and gas and parking is provided by 17 parking spaces in the back. Most of the units have upgraded double pane windows, windows A/C, wall heating, ceiling fans and other amenities. Many units have an updated flooring with granite kitchen countertops and mirrored closet doors, and tiled bathroom.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-03T00:29:30.17. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Remax of Chico - The Laffins Real Estate Team. Licensed in the State of California, USA.

    www.laffinsrealestate.com/homes/103534312

    1024 S Atlantic Boulevard Alhambra, CA 91803

    • Price: $4,900,000
    • Status: Active
    • Updated: 142 min ago
    • ID#: AR20041197
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.39
    Acres
    13,093
    SQFT
    $374
    $/SQFT
    1960
    Built
    Neighborhood:
    601 - Alhambra
    County:
    Los Angeles
    Area:
    601 - Alhambra
    Property Description
    1024 S Atlantic Blvd, Alhambra is a 17-unit value-add apartment with significant rental upside potential in a very strong rental market of West San Gabriel Valley. The property is uniquely situated several blocks from the burgeoning and renown Valley Blvd and the recently completed Atlantic Times Square +GG a local shopping mall complete with AMC Theater. Due to its convenient location several blocks from Valley Blvd, this property provides excellent access to myriad of restaurants, shopping, and most of the amenities the City of Alhambra has to offer. It is also close to many public transportations and is just minutes away from FWY 10 for convenient access to other parts of Los Angeles such as Downtown LA, FWY 710, and FWY 5. The property is a garden style apartment that was built in 1960 and situated on a +-17,143 sqft lot. It has center courtyard and offers excellent unit mix of one 3bed+2bath, eight 2bed+1bath, and eight 1bed+1bath units. Most of the tenants are long-time tenants and the current rental income are significantly below market. Each unit is separately metered for electricity and gas and parking is provided by 17 parking spaces in the back. Most of the units have upgraded double pane windows, windows A/C, wall heating, ceiling fans and other amenities. Many units have an updated flooring with granite kitchen countertops and mirrored closet doors, and tiled bathroom.
    Exterior Features

    Carport Spaces 17.00 Garage Spaces 0.00 Lot Features Level With StreetLot 10000-19999 SqftRectangular LotLevelNear Public Transit Lot Size Source Assessor Lot Size Units Square Feet Parking Features AssignedCarportDetached Carport Parking Total 17.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Heating Wall Furnace Heating YN Yes Laundry Features Common AreaCommunity Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features UrbanValley Country Us Electric Standard Electric Expense 1073.00 Elevation Units Feet Fuel Expense 6334.00 Furniture Replacement Expense 0.00 Gardener Expense 1943.00 Gross Income 289154.00 Gross Operating Income 280479.00 Gross Scheduled Income 289154.00 Insurance Expense 4506.00 Land Lease YN No Laundry YN Yes Net Operating Income 176706.00 New Construction YN No New Taxes Expense 57471.00 Number Of Separate Electric Meters 18 Number Of Separate Gas Meters 18 Number Of Separate Water Meters 1 Number Of Units Leased 17 Number Wall AC 17 Number With Dishwasher 0 Number With Disposal 17 Number With Range 17 Number With Refrigerator 0 Operating Expense 103773.00 Professional Management Expense 4800.00 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 23849.00 Total Expenses 103773.00 Trash Expense 4800.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 3.00 Water Sewer Expense 7449.00 Water Source Public Year Built Source Assessor Zoning Alrpd*

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-03T00:29:30.17. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Remax of Chico - The Laffins Real Estate Team. Licensed in the State of California, USA.

     
    Remax of Chico - The Laffins Real Estate Team
    1834 Mangrove Ave
    Chico CA, 95926