903 N Monterey Street, Alhambra, CA 91801
Property
Sold April 2024
Listing Agent: ASHLEY TANG (DRE #01937309) · Listing Office: HANDFORE REALTY CORP. · Contact: 626-636-5208 · Bought with: ARTHUR TANG · HANDFORE REALTY CORP. · MLS #WS24049009 · Source: CRMLS
About this property
A very well located and maintained property in the City of North Alhambra. The property has been in the same ownership since 1987 (37 years ownership – current owner are the heirs); thus presents a rare opportunity for the right buyer to acquire this beautifully located property in North Alhambra with attractive going in CAP Rate. This property comprises five individual condo style-like units, each offering its own unique features and comfortable living spaces. With a combination of versatile layouts, convenient amenities, and a prime location, this property is a rare find in the market. Building is in immaculate condition and very well kept. Each unit consists of 2 beds and 1.5 baths, central heating and air, and a detached automatic two car garage. There is no local rent control which allows maximum rent increase under AB1482 (CPI + 5% = 10% maximum increase). All current tenants are on a month-to-month agreement which translates to significant rental upside. It is situated on a quiet residential street in Alhambra, and adjacent to both San Marino and South Pasadena; yet it provides convenience to tenants due to its strategic location just within minutes to many area amenities like shopping (Costco, Target, H-Mart), Lacy Park, In N Out, schools, churches, downtown Alhambra on Main Street and Huntington Drive, and easy access to FWY 10 and FWY 110 via Fremont Ave. There is a shared laundry offering additional income. The building is separately metered for electricity and gas.
Listing description from the April 2024 sale, as reported to CRMLS.
Sale history