215 N Alhambra Ave - Apartments FOR SALE


Monterey Park, CA 91755
$1,850,000 USD
818-517-0845
215 N Alhambra Ave, Monterey Park, CA for Sale
$1,850,000 USD
Apartments - FOR SALE
1/53
null | 6% Cap Rate

215 N Alhambra Ave
Monterey Park, CA 91755


HIGHLIGHTS

  • Rare Monterey Park Offering
  • 3 Single Story Duplexes
  • Middle Duplex Sustained Major Fire Damage Requiring Reconstruction
  • Potential Redevelopment Opportunity
  • 16,833 Square Feet of Land Zoned R3
  • Blocks from Garvey and Garfield Avenue Shops, Restaurants, Etc.

OVERVIEW

Realty Investment Advisors is pleased to present a six-unit, single-story apartment complex in a prime Monterey Park location. The property sits on a 16,833-square-foot R3-zoned lot, offering both current income and future redevelopment potential. The asset consists of three single-story duplexes. The front duplex includes a three-bedroom, three-bath front unit and a one-bedroom, one-bath rear unit. The three-bedroom unit is currently configured and leased to three separate tenants as a 1-bedroom/1-bath ($1,200), 2-bedroom/2-bath ($1,850), and studio ($965). The middle duplex, comprised of a 2-bedroom/1-bath unit and a 1-bedroom/1-bath unit, sustained significant fire damage and will require substantial reconstruction. Rents shown assume the units are rebuilt and leased at market rates. The third duplex features two 2-bedroom/1-bath units and a shared on-site laundry room. The property offers 13 on-site parking spaces, including three two-car garages and six open surface spaces, providing strong parking for the submarket. Located just blocks from the Garvey and Garfield Avenue corridors and a short distance from Downtown Monterey Park, the property benefits from convenient access to retail, dining, and neighborhood amenities. The site also presents potential redevelopment opportunities, including PUDs, townhomes, or condominiums, subject to zoning and municipal approvals. Buyer to conduct their own due diligence to verify development feasibility and allowable uses.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$321 USD /SF

# OF UNITS

6

PRICE/UNIT

$308,333

CAP RATE

6%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1953

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,810 SF

ZONING

R3

APN/PARCEL ID

5255-018-001

ASK ABOUT THIS PROPERTY

Benjamin HsiangRealty Investment AdvisorsMore Info
818-517-0845

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

Benjamin HsiangRealty Investment AdvisorsMore Info
818-517-0845

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