920 North 1st StreetAlhambra, California91801United States
$5,800,000
Residential Income
1 of 13
Get directions
We are pleased to present First Street Apartments, a 16-unit apartment complex in the desirable city of Alhambra, CA. The property is located near Downtown Alhambra and borders the affluent communities of South Pasadena and San Marino. The...
$5,800,000
.3376 Acres
Exterior
Residential Income
Property type
1959
Year Built
PW24067638
Web Id
PW24067638
MLS ID
Alhambra Unified
School District
27
days ago
About 920 North 1st Street
We are pleased to present First Street Apartments, a 16-unit apartment complex in the desirable city of Alhambra, CA. The property is located near Downtown Alhambra and borders the affluent communities of South Pasadena and San Marino. The property features an ideal unit mix consisting of one and two-bedroom units, gated entry, covered parking, owned laundry facility, individual gas and electric meters, and partial copper plumbing. The asset has been meticulously maintained and professionally managed with upgrades including a new Roof (2016), exterior paint on building and railings, new washers and dryers, and upgraded exterior lighting. Recently renovated units have laminate wood flooring, granite countertops, stainless steel appliances, and new A/C and heating. In-place rents generate a current cap rate of 4.1%, 5.4% with market rents offering an investor approx. 20% rental upside. This is a rare and unique opportunity for an investor to acquire a well maintained asset, in a highly sought-after location.
Listing Courtesy of Triqor Group
The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.