This offering is for 1700 - 1712 S 5th Street in Alhambra which is situated on a double lot totaling over one-half acre. Constructed in 1978 and 1979, the subject property is comprised of 4 fourplexes (16 units total) with a net rentable area of 15,992 square feet. The neatly landscaped, well-maintained property is separately metered for gas and electric and is serviced by central water heaters. Resident amenities include laundry facility and covered parking. 1700-1712 S 5th Street features desirable townhome-style apartments; 12 two-bedroom/one-and-one-half-bathroom and 4 two-bedroom/two-bathroom units that average nearly 1,000 square feet. The spacious units offer laminate and tile flooring, a gas stove, dishwasher, fireplace, ceiling fans, central air & heat, and ample storage space. While the current ownership has diligently maintained the property, the current ownership has not been aggressive in increasing rents or implementing full unit renovations. With current rents approximately 18% below market, a new owner is presented with the opportunity to increase rents to market upon vacancy or further increase rental income with complete unit renovations. There are no local rent control restrictions (the property remains subject to AB 1482). APN 5357-013-003 is also included in this sale. PART OF A 7 BUILDING PORTFOLIO; CAN BE SOLD INDIVIDUALLY

Listed By CRMLS_CA / Priscilla Nee / CB Richard Ellis, Inc.

Last checked: Checking… • Last updated Jun 25, 2024 • Source: CRMLS_CA

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