2306 W Alhambra RD Alhambra, CA 91801
UPDATED:
10/03/2024 08:20 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,060 sqft
Price per Sqft $682
MLS Listing ID AR24197902
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1924
Lot Size 0.252 Acres
Acres 0.2517
Property Description
The Value-Add Proposition: This fully occupied, turnkey investment presents a compelling case for both seasoned investors looking to capitalize on the current real estate market & first-time buyers looking to benefit from house-hacking by living in one unit while renting the others. Each of the 4 units has been thoughtfully updated, blending vintage charm with modern amenities. The extensive 2001 remodel addressed every aspect of the property, creating a low-maintenance turnkey investment primed for appreciation.
Turnkey Features:
~Completely remodeled interiors with open floor plans
~Updated kitchens & baths with quality finishes
~Private in-unit laundry
~Modernized systems including HVAC, plumbing, and electrical
~Seismic retrofitting for earthquake safety
Income Potential: The property boasts a stable tenant base with month-to-month leases, allowing for flexibility in maximizing rental income. Current rents are at or near market rate, with potential for organic growth as the real estate market evolves.
Location, Location, Location: Positioned in a prime location, with easy access to key landmarks that make it highly attractive for renters. Near Alhambra Hospital Medical Center, it is an ideal option for healthcare professionals seeking convenient housing. Also close to Cal State Los Angeles, it is an excellent option for university staff or professors. With its proximity to both Burbank Airport & Los Angeles International Airport (LAX), it is well-suited for frequent travelers, airline staff, and business professionals. On the corner of Alhambra Rd & Primrose Ave, near local parks, top-rated schools, and South Pasadena?s vibrant restaurants and shopping just steps away.
The Bottom Line: For investors seeking a passive income stream w/ upside potential, this multi-family investment is poised to deliver steady returns for years to come. Its combination of historic appeal, modern updates, & prime location make it a rare find. With the high-demand rental market, this is a low-risk, high-reward opportunity to acquire a stabilized asset with long-term appreciation prospects.
Location
State CA
County Los Angeles
Area 601 - Alhambra
Zoning ALRPD*
Rooms
Other Rooms Second Garage, Shed(s), Storage, Two On A Lot
Ensuite Laundry Inside
Interior
Interior Features Tile Counters, All Bedrooms Down, Bedroom on Main Level
Laundry Location Inside
Heating Forced Air
Cooling Central Air
Flooring Carpet, Wood
Fireplaces Type None
Fireplace No
Laundry Inside
Exterior
Garage Assigned, Concrete, Driveway, Garage, On Site
Garage Spaces 3.0
Garage Description 3.0
Fence Stucco Wall
Pool None
Community Features Foothills, Hiking, Park, Street Lights, Suburban, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View Mountain(s), Neighborhood
Roof Type Flat,Spanish Tile
Parking Type Assigned, Concrete, Driveway, Garage, On Site
Total Parking Spaces 3
Private Pool No
Building
Lot Description Corner Lot, Front Yard, Lawn, Rectangular Lot, Sprinkler System, Street Level
Story 1
Entry Level One
Foundation Tie Down
Sewer Public Sewer
Water Public
Architectural Style Spanish
Level or Stories One
Additional Building Second Garage, Shed(s), Storage, Two On A Lot
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 5339014007
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
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