515 N 1st St - Apartments FOR SALE


Alhambra, CA 91801
$1,750,000 USD
310-994-9158
515 N 1st St, Alhambra, CA for Sale
$1,750,000 USD
Apartments - FOR SALE
1/7
null | 5.6% Cap Rate

515 N 1st St
Alhambra, CA 91801


HIGHLIGHTS

  • Excellent Diverse Unit Mix | Strong Alhambra Location | No Local Rent Control
  • Upgraded Subpanels In 5 out of 6 Units
  • 3 Vacancies For Immediate Renovation Upside

OVERVIEW

CONTACT LISTING AGENT: NICK HAYNER / 310.994.9158 / Nick@maywoodpropertygroup.com This is a rare opportunity to acquire a value-add multifamily asset in the highly sought-after city of Alhambra, a dynamic and centrally located community in the San Gabriel Valley known for its strong rental demand and proximity to downtown Los Angeles. Importantly, Alhambra does not have local rent control, allowing for greater flexibility in rent increases and value creation. The property features a desirable unit mix consisting of two (1 bed / 1 bath), three (2 bed / 1 bath), and one (3 bed / 2 bath) units, with covered and tuck- under parking. With approximately 30% rental upside and the opportunity to implement a RUBS (Ratio Utility Billing System) program, this offering presents investors with strong potential for increased cash flow and long- term appreciation.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$204 USD /SF

# OF UNITS

6

PRICE/UNIT

$291,667

CAP RATE

5.6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,398 SF

ZONING

ALRPD*

APN/PARCEL ID

5337-011-001

ASK ABOUT THIS PROPERTY

Nicholas HaynerMaywood Property GroupMore Info
310-994-9158

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Nicholas HaynerMaywood Property GroupMore Info
310-994-9158

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