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314 N Electric AvenueAlhambra, CA 91801Price: $2,288,000

  • Price: $2,288,000
  • Est. Mortgage of $/month
  • 11 Days on Market
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Federal 30-year interest rate: 2.86% last updated on Sep 16, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $2,288,000List Price
  • 0.18Acreage

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Listed by Edward Pan of Colliers International Greater Los Angel
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.

Property Details of 314 N Electric Avenue

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 "Based on information submitted to CA_CRMLS as of September 19, 2021 2:55 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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