1427 S Garfield Avenue
Alhambra, CA 91801
- – beds
- – baths
- – sqft
- 8,738 sqft lot
- 1978 build
- – on site
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Recession Proof Investments In highly desirably sub-sector of San Gabriel Valley. Huge price reduction- $350,000- for quick sale. Cash cow, 1427 S Garfield has been completely remodeled, in excellent condition, and generates over $12,600/mo in gross revenue. At current list price, expect NOI of $117,600 in year 1 (5% cap), $124,740 in year 2 (5.5% cap), $137,200 in year 3 (6% cap). Alhambra is a leading San Gabriel Valley city with multi-family properties historically trading between 3.25-3.75% cap. Located in prime Alhambra cross streets of Valley and Garfield, surrounded by popular Chinese restaurants, deserts, cafes, and entertainment. With easy access to 10 freeway, 1427 S Garfield attracts young professionals from Downtown LA, Pasadena, and South Pasadena. The property consists of 5 large units: Unit 1 (front facing) is a large 1800sf 3bd/2ba, with master suite, central air, wrap around kitchen, dining area, and two large living rooms and currently rents for $3250/mo. Units 2, 3, 4, and 5 are approx. 1000sf each, 2bd/1ba and rent for $2350/mo. Owner pays for water and trash only. No local rent control, deferred to state AB1482 only. Three upstairs units have large balconies. The property has been completely rewired for electrical. Total 10 parking spaces, each unit designated 2 spaces. Property built in 1978 meaning no retrofit is required. Future value may be determined best use as commercial, as the property is surrounded by best medical office and retail. Simply collect rent and continue to watch the neighborhood transform. Alhambra School district is an attractive feature for tenants with High School rating of 8/10 measured by GreatSchools.com. Feel safe in knowing you've invested in a city of Alhambra, a premier San Gabriel Valley in Southern California.
Listed By CRMLS_CA / Colin M. Trent Johnson / Premier Realty Associates
Last checked:
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Last updated Jun 25, 2024
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MLS# 23251195 —
The Building
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Year Built:1978
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New Construction:No
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Building Area Total:5865.00
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# of Buildings:1
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Total Number Of Units:5
Interior
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Laundry:Community
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Laundry:1
Location
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Directions:Take the 10 Freeeway, exit heading north
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Latitude:34.07743600
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Longitude:-118.12338300
The Property
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Property Type:Residential Income
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Zoning:ALRPD*
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Lot Size Area:8738.0000
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Lot Size Dimensions:55x160
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Lot Size Acres:0.2006
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Lot Size SqFt:8738.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5357009021
Heating & Cooling
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Heating:1
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Heating:Combination
Utilities
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Sewer:Other, Sewer Paid
Appliances
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Appliances:Dishwasher, Disposal, Microwave, Refrigerator
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Included:Yes
The Community
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Senior Community:No
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Pool:None
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Private Pool:No
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Spa Features:None
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Association:No
Parking
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Parking:Yes
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Parking:Assigned, Covered, Carport, Detached Carport
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Parking Spaces:10.00
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Uncovered Spaces:4.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
View a full reportThis is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
6/19/23
Jun 19, 2023
|
Sold | CRMLS_CA | $2,251,000 | -2.1% |
6/9/23
Jun 9, 2023
|
Pending | CRMLS_CA | $2,299,000 | |
5/3/23
May 3, 2023
|
Sold Subject To Contingencies | CRMLS_CA | $2,299,000 |