HIGHLIGHTS
- Excellent Location in Alhambra, right across the street from Almansor Court and Alhambra Golf Course (18-hole)
- Several blocks to famed Valley Blvd retail corridor and downtown Alhambra on Main Street
- Turnkey investment perfect for a 1031 exchange buyer, first time apartment buyer, or owner-user; 30-year fixed rate financing, one of the best way to fight inflation
- FULL Upgrades (fully permitted) completed in 2014: new electrical, new plumbing, new sewer line, new roof, new garage roof, new gate, new concrete driveway, new double pane windows, new tankless water heater for each unit, new central A/C and heating for each unit, new exterior stucco, new exterior paint, new laundry hookups and machines in each unit, new kitchen w/ appliances, new interior updates, etc.
- Strong demographics with an average household income of ±$91,881 within a-mile radius
- No local rent control ordinance (property fall under California AB1482) - highest allowable rent increase
PROPERTY HIGHLIGHTS
- Highly desirable single-story apartment with excellent curb appeal, easy to rent location with rich area amenities
- Pride-of-ownership turnkey apartment – upgraded interior and exterior, well-manicured landscaping, easy to rent units and location, secured entry with wrought iron gate
- Completed in 2014: new copper plumbing, new sewer line, new electrical, new roof, new gate, new windows, new gate, new concrete driveway, new central A/C, new tankless water heater, new laundry hookups, etc.
- All units have been fully upgraded; each unit has laundry hookups
- Each unit have central A/C, laundry hookups, tankless water heater, garage parking, updated kitchen, updated bathroom, updated lighting fixtures, recessed lighting, ceiling fans
- Gated parking, secured entrance, security cameras installed
- Separately metered for electricity and gas
EXECUTIVE SUMMARY
Growth Investment Group is proud to present 705 S Almansor St, a pride-of-ownership single-story turnkey 4-unit apartment in an excellent location in the City of Alhambra. The property offers superb area amenities and sits right across from Alhambra Golf Course and Almansor Court. This provides a rare and excellent amenity for tenants which makes it a very easy to rent and operate property. It is located minutes away from Downtown Alhambra on Main Street, and Valley Blvd retail corridor. There is no local rent control which allows maximum rent increase under AB1482 (CPI + 5% = currently 10% maximum increase).
The property is a garden style single-story apartment that was built in 1951, has a total of ±2,522sf building and situated on a ±7,500sf lot. It has good unit mix of one (1) 2bedroom+1bathroom, and three (3) 1bedroom+1bathroom. The property has undergone massive capital improvements that covers exterior and interior. All the major system has been completely upgraded/replaced in 2014. FULL Upgrades (fully permitted by city) completed in 2014: new electrical, new plumbing, new sewer line, new roof, new garage roof, new gate, new concrete driveway, new double pane windows, new tankless water heater for each unit, new central A/C and heating for each unit, new exterior stucco, new exterior paint, new laundry hookups and machines in each unit, new kitchen w/ appliances, new interior updates, etc.
The property has an excellent curb appeal with secured entrance (recently installed wrought iron gate). Each unit is spacious with excellent layout; and has been completely upgraded with central A/C, new plumbing, new electrical, in-unit laundry machines, new tankless water heater, and much more.
It is situated on a quiet residential street in Alhambra, and adjacent to both San Marino and South Pasadena; yet it provides convenience to tenants due to its strategic location just within minutes to many area amenities like shopping (Costco, Target), Alhambra Park, schools, churches, downtown Alhambra on Main Street, and easy access to FWY 10 and FWY 110 via Fremont Ave.
The property has a garage in the back providing a total of 5 parking spaces (4 garage + 1 open). The building is separately metered for electricity and gas.
LOCATION AMENITIES & ACCESS
The property is strategically located across from Alhambra Golf Course and Almansor Court with great access to Downtown Alhambra on Garfield & Main which include many restaurants, shopping and entertainment such as: Edwards Alhambra Renaissance 14 & IMAX, Burlington Coat Factory, 38 Degree Ale House & Grill, The Granada LA, and almost all amenities the City of Alhambra has to offer. It is within minutes from Valley Blvd Retail corridor. This area is adjacent to the City of South Pasadena and City of San Marino. It offers great access to multiple freeways (FWY 10, FWY 710, FWY 110, 210 and FWY 134).
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