Value Add Mixed Use Apartment+Retail in Prime Alhambra

2401 W Main St, Alhambra, CA 91801

Across from Target, Costco and walking distance to downtown Alhambra

8-unit apartment + 5000SF ground floor retail, can be delivered 100% vacant

INVESTMENT HIGHLIGHTS

• Value add apartment that can be delivered 100% vacant in an excellent location in Alhambra; Perfect for investment and suitable for an owner-user
• Excellent location on Main Street across from multiple power centers (Target, Costco, Aldi, etc.)
• Within walking distance to Downtown Alhambra on Main St and Garfield Ave
• Easy access to Pasadena and DTLA; Walk Score 83!
• Excellent demographics with $103,688 household income within a 1-mile radius
• Strong rental market within low vacancy area
• Located close to public transits and convenient access to FWY 10, 710, and 5
• Almost all ground floor retail tenants are long-time tenants that are on month-to-month agreement, Significant rental upside on the retail units
• All 2nd floor apartment units are 100% vacant – new owner can set their own asking rent and mark it to market
• Located under California AB1482 Statewide Rent Control, which provides maximum allowable rent increase

PROPERTY HIGHLIGHTS

• Mixed-use building with excellent curb appeal facing Main Street
• Recently rehabbed property where almost all the apartment units (2nd floor) have been upgraded
• Easy to manage property with efficient unit mix
• Building does not have any tuck-under parking; NO soft story retrofit
• Excellent frontage on Atlantic Blvd which makes renting units easier
• Upgraded apartment units have new flooring, tiled bathroom, new kitchen countertops, ceiling fans in living room and bedroom, plenty of linen closets
• Each unit is separately metered for electricity and gas, individual water heater