RECENTLY REDUCED BY $350,000 - Highest CAP Rate (4.64% ACTUAL) with Upside (Proforma CAP Rate is 5.43%) in great location of Alhambra, CA.
- Excellent location! Two blocks from Valley Boulevard retail corridor
- High CAP Rate and Low GRM
- Semi value-add opportunity in a strong rental market with plenty of amenities
- Low vacancy history due to its prime and convenient location
- Located close to public transits and convenient access to FWY 10, 710, and 5
- Conveniently located within minutes’ drive from Cal State Los Angeles, Downtown Alhambra, Alhambra Golf Course, Almansor Park, Atlantic Times Square, and offers excellent access to Downtown Los Angeles via FWY 10
- Very well-maintained property with excellent curb appeal in a quiet residential neighborhood
- New exterior painting and new deck painting
- Excellent unit mix with mostly 2-bedroom units
- Large units with good layout and private balcony/patio in some units
- Front unit (unit A) is a large ±2,000sqft unit with en-suite bathroom, walk-in closets, custom bathroom, tile-to-floor linen cabinets
- Four units have private balcony/patio, five units have upgraded flooring
- Secured entrance with garage parking
- Ample parking with 20 spaces and storage cabinets
- Easy to maintain and easy to rent apartment units due to its superb location and settings
- Each unit is separately metered for electricity and gas
The Growth Investment Group is proud to offer LE CHATEAU – 1715 S 5th St., an attractive 14-unit value-add apartment community located in the desirable City of Alhambra, CA. The property is in a very desirable location just 2 blocks south of Valley Boulevard retail corridor and one block from Alhambra elementary school. This offering provides an excellent investment opportunity for investors to operate and cash flow the property from the start. The property has a very low vacancy history due to its convenient and strategic location.
The property is a two-story well-maintained garden style apartment that was built in 1966. It has a large living area of 13,303 sqft (average ±950 sqft per unit) and situated on a 15,458 sqft lot. It has secured entrance and garage parking. It offers an entryway with a central garden area complete with water fountain and lush landscaping.
It offers an excellent unit mix of three (3) x 2bedroom+2bathroom, seven (7) x 2bedroom+1bathroom, three (3) x 1bedroom+1bathroom, and one (1) x studio units. The front unit is an oversized 2bedroom+2bathroom unit (estimated size: ±2,000 sqft) complete with hardwood floor, custom color paint, built-in cabinetry, floor-to-ceiling linen closets, walk-in closets, en-suite bathroom, fireplace, and private patio. Other units are large with good layout and plenty of storage cabinets, windows A/C, wall heating, tiled bathroom, and kitchen. Four units have private balcony/patio area. Five units have been updated with new hardwood flooring. It has new exterior painting, and new deck painting.
Parking is provided by a secured garage parking with 20 spaces (2 are tandem) complete with storage cabinets for each space. Each unit is separately metered for electricity and gas. The property has master water heater.
LOCATION AND AMENITIES
Due to its convenient location two blocks away from Valley Blvd, this property provides excellent access to myriad of restaurants, shopping, and most of the amenities the City of Alhambra has to offer. It is also close to many public transportations and is just one block from FWY 10 for convenient access to other parts of Los Angeles such as Downtown LA, FWY 710, and FWY 5. It is within minutes from Downtown Alhambra (Garfield Ave & Main Street), public schools, and other amenities.
Situated 8 miles northeast of Downtown LA, Alhambra is a premier destination for a family-friendly lifestyle near one of the nation’s most bustling big cities. 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.