1137 S Garfield Avenue S, Alhambra, CA 91801

$1,500,000
3,336
SqFt
List Price
$1,500,000
Price Change
▼ $1,500,000 1542050683
Status
ACTIVE
MLS#
AR18244728
Year Built
1941
Living Sq. Ft
3,336
Lot Size
7,394
Lot Location
0-1 Unit/Acre
Days on Market
61
Property Type
Multifamily
Property Sub Type
Apartment
Stories
Two Level

Property Description

Rents specified are after rent increases that will be effective January 1st, 2019. 1137 S Garfield Ave: a well-maintained, 4-unit apartment building located in the highly-desirable city of Alhambra, California. The property has been in the same ownership since 1981 and this is the first time it is being offered for sale. It is in a strategic location just a block away from the renown Valley Blvd retail corridor. Each of the units are rented to long-time tenants on a month-to-month basis for significantly-below market rents. This offering provides an excellent and true value-add opportunity for investors by adjusting rents to market. It is a 1-1/2 story garden style apartment with center courtyard that offers clean and attractive curb appeal. It has large manicured landscaping and mature trees. It was built in 1941 with ±3,336 sqft living space on a ±7,394 sqft lot size. Each unit is separately metered for electricity and gas and parking is provided by 4 detached garage parking accessible from the alley. The property offers excellent unit mix with 2 x 2bedroom+1bathroom and 2 x 1bedroom+1bathroom. Each unit is large and spacious with an average unit size of ±834 sqft (buyer to verify during inspection) complete with laundry hookups. The property next door 1141 S Garfield is also for sale by same owner. It can be purchased individually or together as a portfolio.

Additional Information

Lot Description
Suburban, Valley
Pool Description
None
Garage Spaces Total
8
Sewer
Public Sewer
Water
Public
Attached Structure
Attached

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Handoko Chen from GIG Real Estate Inc.

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.