NOT LISTED FOR SALE
10 Beds
8 Baths
5,152 Sq Ft
9,496 Sq Ft Lot

Last Sold November 23, 2022

Last sale price $2,550,000 $495 Per Sq Ft

3 Days on Market

Highlights

  • Corner Lot
  • No HOA
  • Laundry Room
  • Martha Baldwin Elementary School Rated A-
  • Cooling System Mounted To A Wall/Window
  • 5-minute walk to Almansor Park

About This Home

As of November 2022

701 S Almansor St, a two-story well maintained and well-located property in a highly desirable City of Alhambra. The property has been in the same ownership since ±1971 (±50 years ownership); thus present a rare opportunity for the right buyer to acquire this beautifully located property in Alhambra. The property is located right across from Alhambra Golf Course and Almansor Court, providing a rare and excellent amenity for tenants which makes it a very easy to rent and operate property. It is located minutes away from Downtown Alhambra on Main Street, and Valley Blvd retail corridor.

The property is a garden style two-story apartment that was built in 1953, has a total of ±5,152sf building and situated on a ±9,496sf corner lot. All the units are original/non-updated which provides good opportunity for buyer to do their own rehab program on future turnover.
All current tenants are on month-to-month agreement and have not had rent increase for the past several years, which translates to significant rental upside.

Last Agent to Sell the Property

Han Widjaja-Chen

GIG Real Estate Inc. License #01749321 Listed on: 09/20/2022

Last Buyer's Agent

Han Widjaja-Chen

GIG Real Estate Inc. License #01749321 Listed on: 09/20/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 9,496 Sq Ft Lot
  • Two or More Common Walls
  • Corner Lot

Home Design

  • Apartment

Interior Spaces

  • 5,152 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 8 Bathrooms

Parking

  • 2 Open Parking Spaces
  • 8 Parking Spaces
  • 6 Carport Spaces
  • Parking Available
  • Assigned Parking

Location

  • Suburban Location

Utilities

  • Cooling System Mounted To A Wall/Window
  • Natural Gas Connected
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 6
  • Assessor Parcel Number 5347025001
  • $2,744 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 8 Units
  • Valley

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter

Property Details

Home Type

Multi-Family

Year Built

Built in 1953

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 2.80
  • Other Phone Description: office
  • Other Phone Number: 6265944901
  • Price Per Unit: 329750
  • Property Attached: Yes
  • Zoning: ALRPD*
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5347025001
  • Year Built: 1953
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 494.95

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 2.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Laundry: Yes
  • Electric: Standard
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Suburban, Valley

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 9496.00
  • Lot Size Acres: 0.2180

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Multiplier: 20.76
  • Lot Size Area: 9496.0000 Square Feet
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Number Wall A C: 8
  • Number With Disposal: 8
  • Number With Range: 8
  • Rent Control: Yes

Tax Info

  • Tax Census Tract: 4815.00
  • Tax Lot: 6
  • TaxOtherAnnualAssessmentAmount: 2744.00

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
11/23/2022 11/23/22 Sold $2,550,000 0.0% $495 / Sq Ft
09/23/2022 09/23/22 Pending -- -- --
09/23/2022 09/23/22 Off Market $2,550,000 -- --
09/20/2022 09/20/22 For Sale $2,638,000 -- $512 / 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: AR22205717

California Regional Multiple Listing Service (CRMLS)