The subject property allows an investor the opportunity to acquire a rare 1978 constructed, non-rent-controlled apartment asset in a highly sought Alhambra location where only 15% of total apartments and only 10% of transactions in 2018 were built 1978 or later. Soft story retrofit is not required, which saves thousands of dollars in capital expenditures. The property offers a unique unit mix with spacious units. While the current ownership has recently added new lush grass to the front yard and has attentively maintained the property, they have not aggressively raised rents. An astute investor will be able to implement a thorough renovation program and immediately take advantage of the estimated 30% upside in rental income.
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
