201 N Monterey St - Apartments FOR SALE


Alhambra, CA 91801
$2,100,000 USD
626-720-7698
201 N Monterey St, Alhambra, CA for Sale
$2,100,000 USD
Apartments - FOR SALE
1/7
null | 4.52% Cap Rate

201 N Monterey St
Alhambra, CA 91801


HIGHLIGHTS

  • First Time on Market in 39 Years
  • Excellent Unit Mix of One Three-Bedroom / Three-Bathroom Unit and Four Two-Bedroom / Two-Bathroom Units. Average Unit Size is over 1,180 sf/Unit.
  • 1976 Construction with secure gated Parking and On-Site Laundry Facility
  • North of Main Street with Walking Distance to Downtown Alhambra, 99 Ranch Market, and Regal Alhambra Renaissance
  • Turn-Key Asset with Pro-Forma Rent at 5.10% CAP Rate

OVERVIEW

Located north of Main Street in North Alhambra, California, this 5-unit multifamily property represents a compelling acquisition opportunity in the highly sought-after San Gabriel Valley. Constructed in 1976, this asset has been immaculately maintained, reflecting long-term stewardship and pride of ownership, as evidenced by the fact that it has not been on the market in 39 years. The property sits on a 0.19-acre lot and offers 5,916 rentable square feet, featuring secure gated parking and on-site laundry facilities for resident convenience. The property features a diverse unit mix, consisting of one three-bedroom/three-bathroom unit and four two-bedroom/two-bathroom units, with an average unit size exceeding 1,180 square feet. Its highly desirable location is within walking distance of downtown Alhambra, 99 Ranch Market, and the Regal Alhambra Renaissance, commanding strong and consistent rental demand. Investors will find a clear path to income growth, as the property currently operates as a turnkey asset with a pro-forma rent potential that targets a 5.10% CAP rate. This combination of an irreplaceable location, oversized vintage floor plans, and built-in rental upside positions this property as a high-quality asset for those seeking long-term stability and performance in the heart of the San Gabriel Valley. "DRIVE-BY ONLY. PLEASE DO NOT DISTURB TENANTS." Tenants are unaware of the sale. Interior inspections are strictly subject to an accepted offer.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$234 USD /SF

# OF UNITS

5

PRICE/UNIT

$420,000

CAP RATE

4.52%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,377 SF

ZONING

ALRPD*

APN/PARCEL ID

5337-022-018

ASK ABOUT THIS PROPERTY

Edward PanColliersMore Info
626-720-7698

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Edward PanColliersMore Info
626-720-7698

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.