Exclusive Listings

Mixed-use 8-unit Apartment + Retail, Can be delivered 100% vacant

Address:
2401 W Main St
Alhambra, CA 91801
Price:
$3,500,000
Status:
Available
Type:
Apartment
# Units:
11
Year Built:
1925
Building Size:
10,000 SF
Lot Size:
6,140 SF
CAP Rate:
7.24%
GRM:
10.76x
Price/Unit:
Price/SqFt:
$350


INVESTMENT HIGHLIGHTS    

  • Value add apartment that can be delivered 100% vacant in an excellent location in Alhambra; Perfect for investment and suitable for an owner-user
  • Excellent location on Main Street across from multiple power centers (Target, Costco, Aldi, etc.)
  • Within walking distance to Downtown Alhambra on Main St and Garfield Ave
  • Easy access to Pasadena and DTLA; Walk Score 83!
  • Excellent demographics with $103,688 household income within a 1-mile radius
  • Strong rental market within low vacancy area
  • Located close to public transits and convenient access to FWY 10, 710, and 5
  • Almost all ground floor retail tenants are long-time tenants that are on month-to-month agreement, Significant rental upside on the retail units
  • All 2nd floor apartment units are 100% vacant – new owner can set their own asking rent and mark it to market
  • Located under California AB1482 Statewide Rent Control, which provides maximum allowable rent increase
  • By renting out 2nd floor apartment units and utilizing full ground floor retail as owner-user space, new owner will be paying low mortgage per SF on the retail side

PROPERTY HIGHLIGHTS

  • Mixed-use building with excellent curb appeal facing Main Street
  • Recently rehabbed property where almost all the apartment units (2nd floor) have been upgraded
  • Easy to manage property with efficient unit mix
  • Building does not have any tuck-under parking; NO soft story retrofit
  • Excellent frontage on Atlantic Blvd which makes renting units easier
  • Upgraded apartment units have new flooring, tiled bathroom, new kitchen countertops, ceiling fans in living room and bedroom, plenty of linen closets
  • Each unit is separately metered for electricity and gas, individual water heater

Marketing Files


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
[email protected]

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
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