NOT LISTED FOR SALE
5 Beds
4 Baths
5,632 Sq Ft
7,267 Sq Ft Lot

Last Sold July 31, 2024

Last sale price $1,968,888 $350 Per Sq Ft

Highlights

  • Cooling System Mounted To A Wall/Window
  • Laundry Room
  • Radiant Heating System
  • San Gabriel High School Rated A

About This Home

As of July 2024

105 South Granada Avenue is a charming 6-unit apartment offered for sale for the first time in nearly 70 years. It is a
generational asset that has been well maintained within the same family during this time. It is desirably located one
block south of Main Street and within one mile east of South Garfield Avenue & Main Street, which is the heart of
Downtown Alhambra. The asset has an 84 “Walk Score,” which means most errands can be accomplished on foot.
It is conveniently located adjacent to CVS, across from Granada Elementary School, and nearly “kitty-corner” to
McDonald’s.
The property is comprised of two three-bedroom/two-bathroom units (estimated 1,100 sf) and four twobedroom/
one and a half-bathroom units (single-story, estimated 850 sf). The total building square footage is 5,632
square feet and the lot size is 7,267 square feet. It is zoned residential low density. It is a two-story building
comprised of wood & stucco and has a pitched roof. It offers 8 tuck-under parking spots. Seismic retrofit has not
been completed; however, it is not mandated by the City of Alhambra. There is an on-site washer and dryer owned
by the building. Plumbing is cast iron except for Unit B, which was replumbed in 2022 with DWV copper. Electrical
panels are original. A new 40-gallon electric water heater was installed in 2023. Each unit has an individual water
heater. Units utilize wall air-conditioning units. The building is individually metered for electricity (the building does
not use gas). The owner pays for water, trash, sewer and common area electricity.
105 South Granada Avenue represents a rare opportunity to acquire a generational asset with large unit mixes,
which yield strong in-place rental income and future rental upside in a prime Downtown Alhambra Location.

Last Agent to Sell the Property

Andy Chan

Keller Williams Realty Brokerage Phone: 6263217410 License #02054786 Listed on: 07/15/2024

Keller Williams Realty

Last Buyer's Agent

Andy Chan

Keller Williams Realty Brokerage Phone: 6263217410 License #02054786 Listed on: 07/15/2024

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 7,267 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • Apartment

Interior Spaces

  • 5,632 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Location

  • Suburban Location

Utilities

  • Cooling System Mounted To A Wall/Window
  • Radiant Heating System
  • Natural Gas Not Available
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 2 / 1
  • Tax Tract Number 1797
  • Assessor Parcel Number 5346002002
  • $2,325 per year additional tax assessments

Community Details

Building Details

  • Rent Control
  • 7 Separate Electric Meters
  • Electric Expense $1,483
  • Insurance Expense $2,400
  • Trash Expense $3,600
  • Water Sewer Expense $2,891
  • Operating Expense $49,503
  • Gross Income $141,360
  • Net Operating Income $88,336

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • CapRate: 4.21
  • Price Per Unit: 350000
  • Property Attached: Yes
  • Water Sewer Expenses: 2891.00
  • Zoning: ALRPD*
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5346002002
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Front
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 349.59

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 8.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Not Available, Sewer Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Radiant
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 3600.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7267.00
  • Lot Size Acres: 0.1668
  • Latitude Manual: 34.09805200

Multi Family

  • Average2 Bed Area: 850 Square Feet
  • Average3 Bed Area: 1100 Square Feet
  • Electric Expense: 1483.00
  • Gross Income: 141360.00
  • Gross Multiplier: 14.86
  • Gross Scheduled Income: 141360.00
  • Insurance Expense: 2400.00
  • Lot Size Area: 7267.0000 Square Feet
  • Net Operating Income: 88336.00
  • Number Of Separate Electric Meters: 7
  • Number Of Units Total: 6
  • Number Wall A C: 6
  • Operating Expense: 49503.00
  • Rent Control: Yes
  • Total Expenses: 49503.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Block: 1
  • Tax Census Tract: 4810.02
  • Tax Lot: 2
  • Tax Tract Number: 01797
  • TaxOtherAnnualAssessmentAmount: 2325.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/31/2024 07/31/24 Sold $1,968,888 -6.2% $350 / Sq Ft
07/15/2024 07/15/24 For Sale $2,100,000 -- $373 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PF24145243

California Regional Multiple Listing Service (CRMLS)