$5,300,000

Estimated payment $33,538/month

Total Views 4,220
22 Beds
16 Baths
10,911 Sq Ft
$486 Price per Sq Ft

About This Home

Situated just two blocks south of the affluent cities of San Marino and South Pasadena, the property benefits from its location in one of the most attractive rental submarkets of the West San Gabriel Valley. Because the property is not subject to local rent control, an investor can increase rents by a greater amount each year, when compared with multifamily investments in Los Angeles and other local cities. With current rents approximately 21% below those of similar neighboring properties, a new owner may be able to add significant value while improving the building's cash flow substantially. Constructed in 1959, the two-story structure surrounds a well-landscaped, quiet courtyard atop a 14,706-square foot lot. The property has been meticulously maintained throughout its ownership, while select units have been renovated with new hardwood floors, new kitchen cabinets, and new ceiling fans. The gated complex includes eight security cameras, several of which are trained on the 16 covered parking spaces. The landlord-owned laundry facilities add an additional revenue stream. The separate gas and electricity meters, pitched roofs, and partial copper plumbing should help to reduce future expenses. Located near the corner of Huntington Drive and Los Robles Avenue, the building sits just across the border from both San Marino and South Pasadena. Being within walking distance of Ralph's, In-N-Out Burger, and the new $130 million Alhambra Place Shopping Center helps to attract tenants. Median home values have increased by 40% since 2020, resulting in increased demand for rental units as residents are priced out of homeownership now that the median single-family home is valued above $1,000,000. Apartment demand in the area is also elevated due to the fact that Alhambra has only added 540 units over the past 30 years. This amount of new development is up to 10 times slower than other communities in the area, and the resulting demand for existing apartments is projected to exert sustained upwards pressure on local rents, benefitting apartment landlords. The property also sits just two miles from the 110 Freeway and two-and-a-half miles from the10 Freeway, affording tenants convenient access to Downtown Los Angeles, Pasadena, and the rest of the San Gabriel Valley.

Listing Agent

Rick Raymundo

Marcus & Millichap License #01357019 Listed on: 07/21/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 0.34 Acre Lot

Interior Spaces

  • 10,911 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 22 Bedrooms
  • 16 Bathrooms

Parking

  • 16 Parking Spaces
  • Assigned Parking

Community Details

  • 16 Units

Listing and Financial Details

  • Assessor Parcel Number 5321-020-021

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 10911
  • Lot Acreage: 0.3377
  • Stories: 2
  • Year Built: 1959
  • Number Of Photos: 22
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 22
  • Total Bathrooms: 16.00
  • Price Per S Q F T: 485.75

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Assigned
  • Total Parking: 16

Lot Info

  • Assessed Improvement Percent: 34.82
  • Assessed Improvement Value: 1576073
  • Assessed Land Percent: 65.18
  • Assessed Land Value: 2950204
  • Total Assessed Value: 4526277
  • Assessor Parcel Number: 5321-020-021
  • Lot Size Area: 14709

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 13.50
  • Number Of Units: 16
  • Total Annual Expense: 136914
  • Type Of Units: Residential
  • Vacancy Rate: 0

Map

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
07/21/2025 07/21/25 For Sale $5,300,000 -- $486 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 25567995

The MLS

APN: 5347-009-042