We’re excited to present this exclusive new listing: a 5-unit mixed-use multifamily property located on two adjacent parcels. This is a rare opportunity, as it’s the first time on the market in decades. The property is a prime value-add investment in an area with strong rental demand, boasting approximately 70% rental upside. Investors will find significant potential to increase value through rent improvements and future development. At projected market rents, the property will stabilize at a 10% CAP rate. It is fully occupied as of the listing date and is situated in an easy-to-rent area. All tenants are on month-to-month leases, and there’s an additional opportunity to develop a 6th rentable unit with a bonus on-site. The property currently consists of five fully occupied units: four spacious apartments and a ground-floor retail space. Strategically located on a prominent corner in Northeast Los Angeles (NELA), just blocks from Cal State University, this property offers excellent visibility and frontage on two busy streets. With mixed-use zoning and 3,250± square feet of space, there’s significant potential for further value enhancement. The large, walled, and gated parking area accommodates approximately eight vehicles, adding further appeal to tenants. There’s also potential for prominent signage and extra income from leasing additional parking spaces. The property is secured with perimeter walls and fencing, and it boasts an exceptionally high Walk Score of 90/100. Additionally, there’s strong potential to add ADUs (Accessory Dwelling Units) on the lot, offering the possibility of nearly doubling the unit count. All units individually metered for power, 5 meter electric panel upgraded and installed in 2011. This is a rare chance to purchase two adjacent properties in the increasingly popular commercial area of El Sereno, Los Angeles—a growing community in NELA. Located just seconds from Alhambra and South Pasadena, and minutes from Downtown Los Angeles, the property features excellent frontage on Alhambra Ave, a key thoroughfare connecting Mission Road to various university sites. The location is near thriving areas such as South Pasadena, Pasadena, Monterey Hills, Highland Park, Glendale, and Lincoln Park. The neighborhood is home to a growing business community, with new establishments like HATCH tech lab space and Stomping Grounds café. Local businesses can benefit from a customer base with strong purchasing power and a skilled workforce. Proximity to major freeways and transportation hubs provides easy access to regional and national markets, making this location ideal for businesses looking to expand. Notable nearby tenants include Target, Costco, Starbucks, LA Fitness, Home Depot, and Alhambra Mall, alongside emerging small businesses like art galleries and service providers. The property is within 5 minutes of 10 universities and colleges and just 2 minutes from Keck Medical Center of USC, 2 miles from Occidental College, 3 miles from Downtown Los Angeles, and 2 miles from Dodger Stadium. Surrounded by dozens of dining experiences and shopping options, this property is conveniently located on Alhambra Ave, connecting Alhambra to the Cal State University area, with easy access to the 710, 10, 110, and 5 freeways. Contact us with any questions.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
