NOT LISTED FOR SALE

1712 S 3rd St Alhambra, CA 91803

2 Beds
2 Baths
14,276 Sq Ft
0.39 Acres

Last Sold November 24, 2020

Last sale price $4,500,000 $315 Per Sq Ft

45 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Level Lot
  • Ramona Elementary School Rated A-

About This Home

As of November 2020

Located in the heart of Alhambra, this 13-unit property is a two-story, garden-style, walk-up building with a gazebo on the second-floor deck. 8 of the 13 units have had significant upgrades in the past 5 years. Each unit varies in upgrades which include: laminate wood flooring, tile kitchen and bathroom floors, granite counter, stainless steel sinks, ranges, refrigerators, dishwashers. Blinds, carpet, light fixtures & hardware. All kitchens have freestanding gas ranges, dishwashers, garbage disposals & some have refrigerators. With a wood-frame & stucco building over parking, this 1971 construction has a flat roof of Tropical 911 white tile 24 acrylic. The foundation is concrete slab. There are 26 gated parking spaces: 6 garage spaces & 20 spaces in main first floor garage. Each unit is individually metered for gas & electric which the tenant pays. The Owner pays water, hot water, trash & landscaping. Tenants share a common area laundry room with 2 washers & 2 dryers leased from CSC Service works. The machines take credit cards or coins. The subject property is 2 blocks from Valley Blvd which offers many restaurants, shops movie theaters & entertainment. It is situated between two 99 Market specialty supermarkets, on Garvey Avenue in Monterey Park & one in Alhambra on East Main St. It is also in close proximity to the 10 & 710 freeways, just north of Monterey Park, east of Downtown Los Angeles & South of Pasadena. Drive by only. Contact listing agent to schedule tour.

Last Agent to Sell the Property

Kevin Lutz

Keller Williams Realty/Pasadena License #00925595 Listed on: 08/18/2020

Keller Williams Realty/Pasadena

Co-Listed By

Kevin Hurley

Keller Williams Realty/Pasadena License #01237798

Last Buyer's Agent

Yiu Kwei

KW Executive License #01875802

KW Executive

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1971

Lot Details

  • 0.39 Acre Lot
  • Two or More Common Walls
  • Level Lot

Parking

  • 26 Car Garage

Home Design

  • Apartment

Interior Spaces

  • 14,276 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 1 / 14
  • Assessor Parcel Number 5357011001

Community Details

Overview

  • No Home Owners Association
  • 13 Units

Amenities

  • Laundry Facilities

Building Details

  • 12 Leased Units
  • Rent Control
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,680
  • Fuel Expense $3,956
  • Gardener Expense $2,400
  • Insurance Expense $6,184
  • Maintenance Expense $20,874
  • Other Expense $7,237
  • Trash Expense $5,886
  • Water Sewer Expense $9,353
  • New Taxes Expense $52,830
  • Operating Expense $110,400
  • Gross Income $2,400
  • Net Operating Income $178,854

Property Details

Home Type

Multi-Family

Year Built

Built in 1971

Lot Details

0

Parking

26

Listing Details

  • CapRate: 3.87
  • Property Attached: Yes
  • Water Sewer Expenses: 9353.00
  • Zoning: ALRPD*
  • Property Type: Residential Income
  • Gardener Expense: 2400.00
  • Parcel Number: 5357011001
  • Year Built: 1971
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 315.21

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 26.00
  • Total Parking Spaces: 26.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 5886.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level
  • Lot Size Sq Ft: 17002.00
  • Lot Size Acres: 0.3903

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 1680.00
  • Fuel Expense: 3956.00
  • Gross Income: 2400.00
  • Gross Multiplier: 15.59
  • Gross Operating Income: 289254.00
  • Gross Scheduled Income: 298200.00
  • Insurance Expense: 6184.00
  • Laundry Income: 25400.00
  • Lot Size Area: 17002.0000 Square Feet
  • Maintenance Expense: 20874.00
  • Net Operating Income: 178854.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 12
  • Number Of Units Total: 13
  • Operating Expense: 110400.00
  • Other Expense: 7237.00
  • Rent Control: Yes
  • Total Expenses: 110400.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 52830.00
  • Tax Block: 14
  • Tax Census Tract: 4816.06
  • Tax Lot: 1
  • Tax Tract Number: .

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Property History

Date Event Price List to Sale Price per Sq Ft
11/24/2020 11/24/20 Sold $4,500,000 -3.2% $315 / Sq Ft
08/18/2020 08/18/20 For Sale $4,650,000 -- $326 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $60,227 $4,870,943 $3,409,661 $1,461,282
2024 $60,227 $4,775,435 $3,342,805 $1,432,630
2023 $59,655 $4,681,800 $3,277,260 $1,404,540
2022 $56,821 $4,590,000 $3,213,000 $1,377,000
2021 $56,210 $4,500,000 $3,150,000 $1,350,000
2020 $22,838 $1,579,549 $638,200 $941,349
2019 $22,231 $1,548,579 $625,687 $922,892
2018 $22,051 $1,518,216 $613,419 $904,797
2016 $20,282 $1,459,263 $589,600 $869,663
2015 $20,003 $1,437,344 $580,744 $856,600
2014 $19,831 $1,409,190 $569,369 $839,821
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: WS20168146

California Regional Multiple Listing Service (CRMLS)