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29 N Hidalgo Avenue

Alhambra, CA 91801
  • $2,500,000
  • STATUS: Active Under Contract
  • ON SITE: 23 Days
  • ID#: TR22124305
Under Contract
UPDATED: 27 min ago
$2,500,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1954
County:

School Ratings & Info

Listing Agent(s): Shang Shang of Keller Williams - Los Feliz (323-300-1000)


Description

Drive-by ONLY. Do not walk on the property. Do not disturb tenants. Contact agent for showing and additional questions. We are pleased to present a unique multifamily investment located at 29 N Hidalgo Ave, Alhambra, California.The six (6) unit property consists of 5 1 bedroom/1bathroom and 1 2bedroom/1 bathroom. Collectively combined the six units comprises 5,324 square feet of leasable space and is situated on a 8,028 square foot lot. Built in 1954, this six unit garners a stable cash flow and substantial value add investment opportunity for both entry level and seasoned investors. Current owner has just remodeled four of the six units with high end materials and two more units are going to be completely renovated for immediate value add. All the units are occupied by long term tenants.This multifamily investment opportunity is specially tailored for savvy investors for long term holding. Current rents for all units are catching up to market rates. All big size units (five 1 bedroom units) have potential for being upgraded to 2 bedroom floor plan, also installing individual interior laundry hookups for better privacy, convenience and significant rent upside.The property has many attractive attributes of which its location is most prevalent and the property being located in a non-rent control city. Centrally situated next to Garfield Avenue and right off Main St. The property is located in close proximity to the Interstate 10 Freeway, local food and dining, shopping, markets, and entertainment. Alhambras neighboring cities include Los Angeles, Monterey Park, San Gabriel, Rosemead, and Montebello. Recent revitalization of the general area has been sprawled by investors seeking to capitalize on the citys locational benefit of being adjacent to Los Angeles downtown and east areas.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-07-04T10:26:47.683. 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 or Zen Ziejewski and Team | Keller Williams Realty. Licensed in the State of California, USA.
www.homefinderorangecounty.com/homes/129715933
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29 N Hidalgo Avenue Alhambra, CA 91801

  • Price: $2,500,000
  • Status: Active Under Contract
  • On Site: 23 Days
  • Updated: 27 min ago
  • ID#: TR22124305
0
Beds
0
Baths
0
½ Baths
0.19
Acres
1954
Built
Neighborhood:
601 - Alhambra
County:
Los Angeles
Area:
601 - Alhambra
Property Description
Drive-by ONLY. Do not walk on the property. Do not disturb tenants. Contact agent for showing and additional questions. We are pleased to present a unique multifamily investment located at 29 N Hidalgo Ave, Alhambra, California.The six (6) unit property consists of 5 1 bedroom/1bathroom and 1 2bedroom/1 bathroom. Collectively combined the six units comprises 5,324 square feet of leasable space and is situated on a 8,028 square foot lot. Built in 1954, this six unit garners a stable cash flow and substantial value add investment opportunity for both entry level and seasoned investors. Current owner has just remodeled four of the six units with high end materials and two more units are going to be completely renovated for immediate value add. All the units are occupied by long term tenants.This multifamily investment opportunity is specially tailored for savvy investors for long term holding. Current rents for all units are catching up to market rates. All big size units (five 1 bedroom units) have potential for being upgraded to 2 bedroom floor plan, also installing individual interior laundry hookups for better privacy, convenience and significant rent upside.The property has many attractive attributes of which its location is most prevalent and the property being located in a non-rent control city. Centrally situated next to Garfield Avenue and right off Main St. The property is located in close proximity to the Interstate 10 Freeway, local food and dining, shopping, markets, and entertainment. Alhambras neighboring cities include Los Angeles, Monterey Park, San Gabriel, Rosemead, and Montebello. Recent revitalization of the general area has been sprawled by investors seeking to capitalize on the citys locational benefit of being adjacent to Los Angeles downtown and east areas.
Exterior Features

Lot Features LawnPaved Number Of Separate Electric Meters 7 Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsSidewalks Electric Expense 288 Fuel Expense 521 Garage YN Yes Gross Income 132200 Gross Scheduled Income 130200 Insurance Expense 2234 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventionalContract Net Operating Income 106356 New Construction YN No Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 25844 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 1300 Water Sewer Expense 2958 Water Source Public Zoning Alrpd*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-07-04T10:26:47.683. 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 or Zen Ziejewski and Team | Keller Williams Realty. Licensed in the State of California, USA.
 
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Zen Ziejewski and Team | Keller Williams Realty
27101 Puerta Real #150
Mission Viejo CA, 92691
Listing Agent(s): Shang Shang of Keller Williams - Los Feliz (323-300-1000)