1137-1141 S Garfield Ave: 8-units that are comprised of two value-add, well-maintained, 4-unit apartment buildings 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. The property consists of 2 parcels, each of which is a 4-unit apartment. Each building 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. Both buildings were built in 1941 with total combined ±6,672 sqft living space on a total ±15,202 sqft lot size. Each unit is separately metered for electricity and gas and parking is provided by 8 detached garage parking accessible from the alley. The property offers excellent unit mix with 4 x 2bedroom+1bathroom and 4 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.
Listing courtesy of Handoko Chen from GIG Real Estate Inc.
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