201 S Olive Avenue

    Alhambra, CA 91801
    • $2,100,000
    • STATUS: Active
    • ON SITE: 6 days
    • ID#: WS19138394
    New On Site 6 Days Ago
    $2,100,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,178
      SQFT
    • $340
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1971
    County:

    School Ratings & Info

    Description

    Bridge investment group is proud to present The Olive apartments, a well maintained 6 unit apartment building located in Alhambra. They don't build apartments like this anymore which is why this property hasn't changed ownership in over 40 years. This property is not rent controlled and has large units with the one bedrooms around 800-850 square feet and the two bedrooms two bath between 1100-1300 square feet. three units have over-sized balconies and two units have very large yards making them appealing to prospective tenants. five of the units are on month to month so new owners can take advantage of rental upside immediately. The laundry machines are leased and the new owner can install their own laundry machines and capture much more income. There are 11 parking spaces, 4 covered, 4 tuck-under and three 3 open/uncovered spaces. Close to downtown Alhambra where everything is, this is the ideal location to own real estate. Seller is a licensed California Real Estate Broker. DO NOT walk on property, tenants do no know property is for sale.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-19T00:35:36.723. 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/95824672

    201 S Olive Avenue Alhambra, CA 91801

    • Price: $2,100,000
    • Status: Active
    • ID#: WS19138394
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    6,178
    SQFT
    $340
    $/SQFT
    1971
    Built
    Neighborhood:
    601 - Alhambra
    County:
    Los Angeles
    Area:
    601 - Alhambra
    Property Description
    Bridge investment group is proud to present The Olive apartments, a well maintained 6 unit apartment building located in Alhambra. They don't build apartments like this anymore which is why this property hasn't changed ownership in over 40 years. This property is not rent controlled and has large units with the one bedrooms around 800-850 square feet and the two bedrooms two bath between 1100-1300 square feet. three units have over-sized balconies and two units have very large yards making them appealing to prospective tenants. five of the units are on month to month so new owners can take advantage of rental upside immediately. The laundry machines are leased and the new owner can install their own laundry machines and capture much more income. There are 11 parking spaces, 4 covered, 4 tuck-under and three 3 open/uncovered spaces. Close to downtown Alhambra where everything is, this is the ideal location to own real estate. Seller is a licensed California Real Estate Broker. DO NOT walk on property, tenants do no know property is for sale.
    Exterior Features

    Garage Spaces 11.00 Lot Features Level With Street Lot Size Source Assessor Lot Size Units Square Feet Parking Total 11.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 833 Average1 Bed Area Units Square Feet Average2 Bed Area 1167 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Community

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.02 Community Features Curbs Country Us Electric Expense 444.00 Elevation Units Feet Fuel Expense 772.00 Gross Income 684.00 Gross Multiplier 19.39 Gross Operating Income 105074.00 Gross Scheduled Income 108324.00 Insurance Expense 2780.00 Land Lease YN No Laundry Income 684.00 Laundry YN Yes Maintenance Percent 7.00 Net Operating Income 63440.00 New Construction YN No New Taxes Expense 23521.00 Number Of Separate Electric Meters 7 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Operating Expense 41635.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 41635.00 Trash Expense 1779.50 Vacancy Allowance Rate 3.00 Water Sewer Expense 1779.50 Water Source Public Year Built Source Public Records Zoning Alrpd*

    Listing provided courtesy of Kevin Lutz of Pasadena Market Center and Tim Chen of Keller Williams Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-19T00:35:36.723. 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