Exclusive Listings

6-Units Prime Value Add in North Alhambra

Address:
428 N Curtis Ave.
Alhambra, CA 91801
Price:
$2,599,000
Status:
Sold
Type:
Apartment
# Units:
6
Year Built:
1987
Building Size:
7,074 SF
Lot Size:
8,118 SF
CAP Rate:
2.76%
GRM:
22.21x
Price/Unit:
$433,000
Price/SqFt:
$367

INVESTMENT HIGHLIGHTS          

  • Value-Add opportunity with many long-time tenants and an estimated ±55% rental upside potential
  • Superb location on Curtis Ave and within walking distance from Downtown Alhambra which include many amenities such as: Edwards Alhambra Renaissance 14 & IMAX, Burlington Coat Factory, 38 Degree Ale House & Grill, and The Granada LA.
  • Easy to operate apartment due to its year built and unit mix
  • Strong demographics with an average household income of ±$80,000 within two-mile radius
  • Arguably located in the best part of Alhambra (north Alhambra location)!
  • Located close to public transits and convenient access to FWY 10, 110, 710, 210 & 134
  • Conveniently located 10 minute drive from Cal State Los Angeles & California Institute of Technology
  • Convenient access to shopping such as Costco & Target

PROPERTY HIGHLIGHTS:

  • Outstanding unit mix with six (6) x 3 bedroom + 2 bathroom Townhouse style units
  • Newer built property that was built in 1987 (copper plumbing, central A/C, etc.)
  • Separately metered for electricity and gas
  • Large unit size with each unit estimated at ±1,179 SF
  • Total of 14 parking spaces with attached two car garages for each unit
  • Very near to Cal State LA & Cal Tech
  • Excellent location on Curtis Avenue one street from Atlantic Blvd and in between Huntington & Main Street.


EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer 428 N Curtis Ave, an extremely well maintained 6-unit apartment building located in the highly desirable city of Alhambra, California. This beautiful income property has all the desirable features perfect for any value-add investor looking to acquire an apartment property and maximize its income potential. The units are currently leased to many long-time tenants on a month-to-month agreement at below market rents. With no rent control and an excellent rental market, Buyers can quickly add value and increase the income.

The property consists of a very large building built in 1987. Perfectly manicured landscaping allow for excellent curb appeal. Each unit boasts a 3 bedroom + 2 bathroom Townhouse style with spacious layout containing large square footage (±1179 sq. ft.). Equipped a total of six (6) two-car garages, every tenant enjoys the benefits of having their own personal garage with sliding doors and remote openers.

An extra two (2) carport parking spaces can be used as guest parking or converted into storage space for even more income.  In every unit has a kitchen greenhouse window as an added bonus that all the tenants enjoy. Towards the rear of the property is an extremely large common area that doubled as barbeque area. It has an enclosed laundry room space that brings additional income to the owner. Most of the tenants are long-term tenants on month to month agreement and the property is a non-rent-control asset.  The property is separately metered for electricity and gas.

The property is strategically located in the north Alhambra area, considered to be one of the best location in Alhambra. This area is adjacent to the City of South Pasadena and City of San Marino. Curtis Ave is a quiet tree-lined residential street. The property is within walking distance to Downtown Alhambra on Atlantic & Main which include many restaurants, shopping and entertainment such as: Edwards Alhambra Renaissance 14 & IMAX, Burlington Coat Factory, 38 Degree Ale House & Grill, and The Granada LA. It is minutes away from Costco, Target and almost all amenities the City of Alhambra has to offer.  Tenants can enjoy its close proximity to multiple freeways (FWY 10, FWY 710, FWY 110, and FWY 210).

 

 LOCATION AMENITIES AND ACCESS

The property is located in the north Alhambra with all of its appropriate amenities, suitable dining and fashionable shopping. The property is situated on Curtis Avenue in between Huntington Drive and Main Street. With only a few blocks from Downtown Alhambra it is close by to many restaurants, shopping and entertainment such as: Edwards Alhambra Renaissance 14 & IMAX, Burlington Coat Factory, 38 Degree Ale House & Grill, and The Granada LA.

Alhambra is located 8 miles east of Los Angeles. Bordering the city of Alhambra is San Gabriel on the east, San Marino and South Pasadena on the north, and Monterey Park on the south. Major freeways include interstate highways 10, 110 and 710. Several quality educational institutions are located nearby, including the California Institute of Technology, California State University at Los Angeles, Pasadena City College, Pasadena College, East Los Angeles College, and slightly further away, UCLA 

Marketing Files


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
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