We are pleased to present First Street Apartments, a 16-unit apartment complex in the desirable city of Alhambra, CA. The property is located near Downtown Alhambra and borders the affluent communities of South Pasadena and San Marino. The property features an ideal unit mix consisting of one and two-bedroom units, gated entry, covered parking, owned laundry facility, individual gas and electric meters, and partial copper plumbing. The asset has been meticulously maintained and professionally managed with upgrades including a new Roof (2016), exterior paint on building and railings, new washers and dryers, and upgraded exterior lighting. Recently renovated units have laminate wood flooring, granite countertops, stainless steel appliances, and new A/C and heating. In-place rents generate a current cap rate of 3.8%, 5.1% with market rents offering an investor approx. 20% rental upside. This is a rare and unique opportunity for an investor to acquire a well maintained asset, in a highly sought-after location.
Additional Features
- Rectangular Lot
- Two
- Parking spaces: 0.00
- Listing Status: Active
- Listing Agent: Ryan Loria
(lic# 02006138)
of Pacific West
- Listing Office: Triqor Group
(lic# 01921625)
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Based on information from CRISNet MLS as of 6th May 2024 at 11:41pm. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
