114 S Marguerita Avenue

    Alhambra, CA 91801
    • $2,030,000
    • STATUS: Active
    • ON SITE: 142 days
    • ID#: 19427700
    UPDATED: 63 min ago
    $2,030,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,502
      SQFT
    • $369
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1978
    County:

    School Ratings & Info

    Description

    The subject property allows an investor the opportunity to acquire a rare 1978 constructed, non-rent-controlled apartment asset in a highly sought Alhambra location where only 15% of total apartments and only 10% of transactions in 2018 were built 1978 or later. Soft story retrofit is not required, which saves thousands of dollars in capital expenditures. The property offers a unique unit mix with spacious units. While the current ownership has recently added new lush grass to the front yard and has attentively maintained the property, they have not aggressively raised rents. An astute investor will be able to implement a thorough renovation program and immediately take advantage of the estimated 30% upside in rental income.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-17T12:34:12.057. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/91198948

    114 S Marguerita Avenue Alhambra, CA 91801

    • Price: $2,030,000
    • Status: Active
    • Updated: 63 min ago
    • ID#: 19427700
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    5,502
    SQFT
    $369
    $/SQFT
    1978
    Built
    Neighborhood:
    601 - Alhambra
    County:
    Los Angeles
    Area:
    601 - Alhambra
    Property Description
    The subject property allows an investor the opportunity to acquire a rare 1978 constructed, non-rent-controlled apartment asset in a highly sought Alhambra location where only 15% of total apartments and only 10% of transactions in 2018 were built 1978 or later. Soft story retrofit is not required, which saves thousands of dollars in capital expenditures. The property offers a unique unit mix with spacious units. While the current ownership has recently added new lush grass to the front yard and has attentively maintained the property, they have not aggressively raised rents. An astute investor will be able to implement a thorough renovation program and immediately take advantage of the estimated 30% upside in rental income.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage - Single DoorCoveredUncovered Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 3.64 Gross Multiplier 17.81 Gross Operating Income 114600.00 Improvements Amount 887244 Land Value 464747 Laundry YN Yes Net Operating Income 73885.00 Special Listing Conditions Standard Total Expenses 37295.00 Zoning Alrpd*

    Listing provided courtesy of Sean Rosenzweig of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-17T12:34:12.057. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604