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232 N Alhambra AvenueMonterey Park, CA 91755Price: $2,100,000

  • Price: $2,100,000
  • Est. Mortgage of $/month
  • 9 Days on Market
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Federal 30-year interest rate: 3.05% last updated on Oct 14, 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.
  • $2,100,000List Price
  • 0.22Acreage

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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 232 N. Alhambra Ave.,Monterey Park CA 91755. The property is 1 block north of Monterey Parks Garvey Avenue retail corridor,in a quiet residential neighborhood. It consists of one two-story building with front yard and parking/storage in the rear. The building totals 6,574 rentable square feet situated on an approximately 9,601 square foot rectangular lot. Originally built in 1963,this well-maintained multi-family asset has a unit mix of (one) 1-bedroom/1-bathroom,(three) 2-bedroom/1-bathroom,(one) 2-bedroom/2-bathroom,and (one) 3-bedroom/2-bathroom+Den. Rental rates at this property are approximately 25% below market rate. The property has the potential to achieve over 4.5% CAP rate with updated market rents in a desirable SoCal location. Amenities include front yard,on-site parking,and storage in the rear of the property. There is a laundry room on-site currently generating additional income. In addition,the building exterior and laundry room were recently painted with great curb appeal. This apartment is conveniently located within short walking distance to distinguished Mark Keppel High School and Monterey Vista Elementary,both scored 9 out of 10 on www.greatschools.org. The property is located near 10 freeway in a quiet residential neighborhood and adjacent to the multitude of residential amenities of nearby shopping centers and public services. Drive-by only,do not contact tenants. Make offer subject to inspection.

Property Details of 232 N Alhambra Avenue

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 "Based on information submitted to CA_CRMLS as of October 16, 2021 5:52 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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