22 N Electric Avenue

    Alhambra, CA 91801
    • $1,750,000
    • STATUS: Active Under Contract
    • ON SITE: 72 days
    • ID#: 20546932
    Under Contract
    $1,750,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1948
    County:

    School Ratings & Info

    Description

    We are pleased to present for sale 22 North Electric Avenue, a five unit multifamily building located in the city of Alhambra, a core market in the San Gabriel Valley. The property borders the affluent neighborhoods of San Marino and South Pasadena, and is only fifteen minutes from Downtown Los Angeles. The asset's stellar location and condition offer a new investor high rental potential.The meticulously maintained property built in 1948/1949 consists of one detached one-bedroom/one-bathroom house and one fourplex comprised of two-bedroom/one-bathroom units. It is strategically positioned to avoid recent rent control regulations by having four out of five units delivered vacant at the close of escrow. Two of those four units are already rent-ready and have been tastefully renovated with newly painted two-tone walls, dual pane windows, upgraded wood floors, white carrera marble-like tiles, granite countertops, and new electrical panels.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-06T00:27:53.273. 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/102584507

    22 N Electric Avenue Alhambra, CA 91801

    • Price: $1,750,000
    • Status: Active Under Contract
    • ID#: 20546932
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1948
    Built
    Neighborhood:
    601 - Alhambra
    County:
    Los Angeles
    Area:
    601 - Alhambra
    Property Description
    We are pleased to present for sale 22 North Electric Avenue, a five unit multifamily building located in the city of Alhambra, a core market in the San Gabriel Valley. The property borders the affluent neighborhoods of San Marino and South Pasadena, and is only fifteen minutes from Downtown Los Angeles. The asset's stellar location and condition offer a new investor high rental potential.The meticulously maintained property built in 1948/1949 consists of one detached one-bedroom/one-bathroom house and one fourplex comprised of two-bedroom/one-bathroom units. It is strategically positioned to avoid recent rent control regulations by having four out of five units delivered vacant at the close of escrow. Two of those four units are already rent-ready and have been tastefully renovated with newly painted two-tone walls, dual pane windows, upgraded wood floors, white carrera marble-like tiles, granite countertops, and new electrical panels.
    Exterior Features

    Lot Size Source Assessor Parking Features Private Parking YN Yes

    Interior Features

    Heating Wall Furnace Heating YN Yes

    Property Features

    Gross Income 127200.00 Gross Multiplier 13.76 Gross Operating Income 123384.00 Net Operating Income 83224.00 Senior Community YN No Special Listing Conditions Standard Zoning Cpd

    Listing provided courtesy of Sean Rosenzweig of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-06T00:27:53.273. 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