204 S Olive Ave - Multi-Family FOR SALE


Alhambra, CA 91801
$2,300,000 USD
626-313-4901
204 S Olive Ave, Alhambra, CA for Sale
$2,300,000 USD
Multi-Family - FOR SALE
1/11
null | 4.74% Cap Rate

204 S Olive Ave
Alhambra, CA 91801


HIGHLIGHTS

  • BUNGALOW STYLE UNITS/HOMES
  • VERY LARGE 18,895 SF LOT
  • GARAGES AND ON-SITE PARKING
  • FUTURE DEVELOPMENT POTENTIAL

OVERVIEW

RIA and Compass are pleased to offered for sale a rare offering of a multi-family property with bungalow style units on a large 18,895 SF lot on a quiet residential street. The property was purchased decades ago as eight rental units and continued to operate at eight, but the county records show seven units on the site. Buyer to perform their own diligence on the one non-conforming unit. Featuring spacious, standalone home type units that are all 2Bed+1bath on a large lot yielding the future potential for a redevelopment. At the rear are eight enclosed garages and open parking that accommodate eight vehicles. Solid in place rents offer an investor nearly a 5% cap with great upside and excellent desirability amongst other apartment units. Situated in a sought-after Alhambra location near shopping, dining, transit, and major employment centers, the property benefits from consistent rental demand and strong market fundamentals. There are no city specific rent control laws and benefits from falling under California AB1482 rent guidelines/limitations. This is a rare opportunity to acquire unique rental units on a very large lot in one of the San Gabriel Valley’s most reliable rental markets. Email for OM package or call with specific questions. PLEASE DO NOT DISTURB ANY TENANTS.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$321 USD /SF

# OF UNITS

7

PRICE/UNIT

$328,571

CAP RATE

4.74%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Alhambra Bungalows

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

5343-024-012

ASK ABOUT THIS PROPERTY

Alexander MetaxasRealty Investment AdvisorsMore Info
626-313-4901

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Alexander MetaxasRealty Investment AdvisorsMore Info
626-313-4901

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