1137 S Garfield Avenue S

    Alhambra, CA 91801
    • $1,500,000
    • STATUS: Active
    • ON SITE: 135 days
    • ID#: AR18244728
    UPDATED: 35 min ago
    $1,500,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,336
      SQFT
    • $450
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1941
    County:

    School Ratings & Info

    Description

    Rents specified are after rent increases that will be effective January 1st, 2019. 1137 S Garfield Ave: a well-maintained, 4-unit apartment building located in the highly-desirable city of Alhambra, California. The property has been in the same ownership since 1981 and this is the first time it is being offered for sale. It is in a strategic location just a block away from the renown Valley Blvd retail corridor. Each of the units are rented to long-time tenants on a month-to-month basis for significantly-below market rents. This offering provides an excellent and true value-add opportunity for investors by adjusting rents to market. It is a 1-1/2 story garden style apartment with center courtyard that offers clean and attractive curb appeal. It has large manicured landscaping and mature trees. It was built in 1941 with +-3,336 sqft living space on a +-7,394 sqft lot size. Each unit is separately metered for electricity and gas and parking is provided by 4 detached garage parking accessible from the alley. The property offers excellent unit mix with 2 x 2bedroom+1bathroom and 2 x 1bedroom+1bathroom. Each unit is large and spacious with an average unit size of +-834 sqft (buyer to verify during inspection) complete with laundry hookups. The property next door 1141 S Garfield is also for sale by same owner. It can be purchased individually or together as a portfolio.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-23T20:39:27.957. 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. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/88386910

    1137 S Garfield Avenue S Alhambra, CA 91801

    • Price: $1,500,000
    • Status: Active
    • Updated: 35 min ago
    • ID#: AR18244728
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    3,336
    SQFT
    $450
    $/SQFT
    1941
    Built
    Neighborhood:
    601 - Alhambra
    County:
    Los Angeles
    Area:
    601 - Alhambra
    Property Description
    Rents specified are after rent increases that will be effective January 1st, 2019. 1137 S Garfield Ave: a well-maintained, 4-unit apartment building located in the highly-desirable city of Alhambra, California. The property has been in the same ownership since 1981 and this is the first time it is being offered for sale. It is in a strategic location just a block away from the renown Valley Blvd retail corridor. Each of the units are rented to long-time tenants on a month-to-month basis for significantly-below market rents. This offering provides an excellent and true value-add opportunity for investors by adjusting rents to market. It is a 1-1/2 story garden style apartment with center courtyard that offers clean and attractive curb appeal. It has large manicured landscaping and mature trees. It was built in 1941 with +-3,336 sqft living space on a +-7,394 sqft lot size. Each unit is separately metered for electricity and gas and parking is provided by 4 detached garage parking accessible from the alley. The property offers excellent unit mix with 2 x 2bedroom+1bathroom and 2 x 1bedroom+1bathroom. Each unit is large and spacious with an average unit size of +-834 sqft (buyer to verify during inspection) complete with laundry hookups. The property next door 1141 S Garfield is also for sale by same owner. It can be purchased individually or together as a portfolio.
    Exterior Features

    Garage Spaces 8.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 8.00 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 Laundry Features Gas & Electric Dryer Hookup Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.68 Community Features SuburbanValley Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Multiplier 17.86 Gross Operating Income 81480.00 Gross Scheduled Income 84000.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 55215.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Wall AC 4 Number With Range 4 Operating Expense 26265.00 Professional Management Expense 0.00 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 0.00 Trash Expense 0.00 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 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 2019-02-23T20:39:27.957. 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. Licensed in the State of California, USA.
     
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