NOT LISTED FOR SALE

508 N 2nd St Alhambra, CA 91801

9 Beds
6 Baths
14,279 Sq Ft
0.39 Acres

Last Sold December 16, 2022

Last sale price $4,700,000 $329 Per Sq Ft

13 Days on Market

Highlights

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

About This Home

As of December 2022

This North Alhambra gated apartment is irreplaceable, with value-add potential property to investors seeking a property to add to their investment portfolio.
Located in the SE corner of Alhambra Rd. and 2nd St., cross street is Garfield Elementary Scholl. 5 minutes driving to Pasadena, this property is with excellent proximity to shopping, entertainment districts and restaurants.
All Purchase offer by AIR “Standard Offer, Agreement, and Escrow Instructions for Purchase of Residential Income Properties” From.
Escrow and Title will be Seller's choice.
Please DO NOT Walk on property or Disturb tenants, call listing agent for tour.

Last Agent to Sell the Property

Hwychin (Frank) Pao

Kingstone, Inc. License #01864901 Listed on: 10/05/2022

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 0.39 Acre Lot
  • Two or More Common Walls
  • Density is 11-15 Units/Acre

Home Design

  • Apartment

Interior Spaces

  • 14,279 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Dryer

Parking

  • 2 Open Parking Spaces
  • 22 Parking Spaces
  • 20 Carport Spaces

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 26
  • Tax Tract Number 4572
  • Assessor Parcel Number 5337011026
  • $5,081 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 15 Units

Amenities

  • Laundry Facilities

Building Details

  • 15 Leased Units
  • 16 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $1,383
  • Insurance Expense $10,000
  • Maintenance Expense $16,760
  • Other Expense $30,453
  • Pest Control $230
  • Professional Management Expense $10,765
  • Trash Expense $3,747
  • Water Sewer Expense $3,920
  • Operating Expense $77,258
  • Gross Income $255,367
  • Net Operating Income $178,108

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Price Per Unit: 350000
  • Professional Management Expense: 10765.00
  • Property Attached: Yes
  • Water Sewer Expenses: 3920.00
  • Zoning: ALRPD*
  • Property Type: Residential Income
  • Parcel Number: 5337011026
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 329.15

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 20.00
  • Total Parking Spaces: 22.00
  • Uncovered Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Community, Dryer Included
  • Pest Control Expense: 230.00
  • Sewer: Public Sewer
  • Trash Expense: 3747.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 16915.00
  • Lot Size Acres: 0.3883

Multi Family

  • Electric Expense: 1383.00
  • Gross Income: 255367.00
  • Gross Scheduled Income: 255367.00
  • Insurance Expense: 10000.00
  • Lot Size Area: 16915.0000 Square Feet
  • Maintenance Expense: 16760.00
  • Net Operating Income: 178108.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 15
  • Number Of Units Total: 15
  • Operating Expense: 77258.10
  • Other Expense: 30453.00
  • Rent Control: No
  • Total Actual Rent: 255367.00
  • Total Expenses: 77258.00

Tax Info

  • Tax Census Tract: 4803.04
  • Tax Lot: 26
  • Tax Tract Number: 4572
  • TaxOtherAnnualAssessmentAmount: 5081.00

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
12/16/2022 12/16/22 Sold $4,700,000 -10.5% $329 / Sq Ft
10/18/2022 10/18/22 Pending -- -- --
10/07/2022 10/07/22 For Sale $5,250,000 +11.7% $368 / Sq Ft
10/06/2022 10/06/22 Off Market $4,700,000 -- --
10/05/2022 10/05/22 For Sale $5,250,000 -- $368 / 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: AR22216604

California Regional Multiple Listing Service (CRMLS)