NOT LISTED FOR SALE

1400 W Pine St Alhambra, CA 91801

11 Beds
6 Baths
5,002 Sq Ft
9,670 Sq Ft

Last Sold October 15, 2024

Last sale price $1,925,000 $385 Per Sq Ft

11 Days on Market

Highlights

  • No HOA
  • Garfield Elementary School Rated A-
  • Laundry Room

About This Home

As of October 2024

Discover a promising real estate opportunity with these five apartment units located in the sought-after area adjacent to South Pasadena. Situated on a generous 9,923 sq/ft lot with 4,983 sq/ft of building space, this property boasts substantial upside potential for investors and developers alike.
The complex features: All large Four 2-bedroom/1-bath units and one 3-bedroom/1.5-bath unit, Five carports plus ample street parking, ensuring convenience for residents. New exterior paint enhances curb appeal and modernizes the building's appearance. Additional highlights include: New exterior paint enhances curb appeal and modernizes the building's appearance. Large balcony/patio areas for outdoor enjoyment with pitch roof. Owner recently updated all individual electrical boxes. Located in a charming South Pasadena residential neighborhood, this property is within walking distance to City Hall, shopping, restaurants, and parks, offering unparalleled convenience and a vibrant community atmosphere. The state of California has rent control but not the city of Alhambra. Please do not disturb tenants or knock on their doors. Coin operated washer/dryer belongs to owner.

Last Agent to Sell the Property

Matt Ly

Coldwell Banker Realty Brokerage Email: matt.ly@cbcnrt.com License #01441481 Listed on: 09/12/2024

Coldwell Banker Realty

Last Buyer's Agent

Edlinn Hong

Georgetown Realty Company License #01991149

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 9,670 Sq Ft Lot
  • Two or More Common Walls
  • Rural Setting
  • Density is 2-5 Units/Acre

Home Design

  • Apartment
  • Entry on the 1st floor
  • Asphalt Roof

Interior Spaces

  • 5,002 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 6 Bathrooms

Parking

  • 5 Parking Spaces
  • 5 Carport Spaces
  • Parking Available
  • Assigned Parking

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 2
  • Assessor Parcel Number 5321033033
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • 5 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $426
  • Fuel Expense $2,202
  • Gardener Expense $960
  • Insurance Expense $5,800
  • Other Expense $7,000
  • Trash Expense $1,850
  • Water Sewer Expense $3,882
  • New Taxes Expense $22,557
  • Operating Expense $44,677
  • Gross Income $112,540
  • Net Operating Income $64,517

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

9,670 Sq Ft Lot

Listing Details

  • Assessments: No
  • CapRate: 3.49
  • Property Attached: Yes
  • Water Sewer Expenses: 3882.00
  • Zoning: ALRPD*
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 960.00
  • Parcel Number: 5321033033
  • Year Built: 1959
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 384.85

Exterior Features

  • Pool Private: No
  • Roof: Asphalt

Garage/Parking

  • Carport Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 1850.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Rural

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 9670.00
  • Lot Size Acres: 0.2220

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average2 Bed Area: 900 Square Feet
  • Average3 Bed Area: 1100 Square Feet
  • Electric Expense: 426.00
  • Fuel Expense: 2202.00
  • Gross Income: 112540.00
  • Gross Multiplier: 16.44
  • Gross Operating Income: 109194.00
  • Gross Scheduled Income: 112540.00
  • Insurance Expense: 5800.00
  • Laundry Income: 1000.00
  • Lot Size Area: 9670.0000 Square Feet
  • Net Operating Income: 64517.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 44677.00
  • Operating Expense Percent: 41.00
  • Other Expense: 7000.00
  • Other Expense Description: Repairs
  • Rent Control: No
  • Total Expenses: 44677.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 22557.00
  • Tax Census Tract: 4804.00
  • Tax Lot: 2
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Property History

Date Event Price List to Sale Price per Sq Ft
10/15/2024 10/15/24 Sold $1,925,000 +4.1% $385 / Sq Ft
09/12/2024 09/12/24 For Sale $1,850,000 -- $370 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $12,701 $1,925,000 $870,000 $1,055,000
2024 $12,701 $922,940 $350,712 $572,228
2023 $12,699 $904,844 $343,836 $561,008
2022 $12,147 $887,103 $337,095 $550,008
2021 $12,012 $869,710 $330,486 $539,224
2019 $11,625 $843,916 $320,685 $523,231
2018 $11,584 $827,370 $314,398 $512,972
2016 $10,649 $795,244 $302,191 $493,053
2015 $10,500 $783,299 $297,652 $485,647
2014 $10,396 $767,956 $291,822 $476,134
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR24173269

California Regional Multiple Listing Service (CRMLS)
Your Personal Tour Guide

Ask me questions while you tour the home.