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$2,480,000
22 N Electric AVE Alhambra, CA 91801
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$2,480,000
Est. payment /mo
7,623 Sqft Lot
Price Dropped by $120K
22 N Electric AVE Alhambra, CA 91801
UPDATED:
10/31/2024 05:29 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR24172997
HOA Y/N No
Year Built 1948
Lot Size 7,623 Sqft
Property Description
We are delighted to present an exceptional income property opportunity in the heart of Alhambra, perfectly suited for savvy investors seeking both short-term and long-term rental potential. This fully renovated multi-family property comprises five units: one 1-bedroom, 1-bath unit with the potential to convert into a 3-bedroom, and four 2-bedroom, 1-bath units. Each unit has been meticulously updated within the last year, featuring new flooring, fresh paint, and comes fully furnished, making them perfect for Airbnb or long-term tenants, offering flexibility in a high-demand rental market. This property offers unparalleled flexibility in a high-demand rental market. Strategically located just 15 minutes from Downtown Los Angeles, it presents a unique high-growth investment opportunity. The sale includes the existing Airbnb listings for all 5 units, ensuring positive cash flow from the close of escrow. Whether you're looking to continue the thriving short-term rental operation or transition to long-term leases, this property provides unmatched flexibility in a high-demand rental market. Its central location positions it as a prime asset ahead of major upcoming events, such as the 2026 FIFA World Cup and the 2028 Olympics, ensuring a steady stream of rental income. Additionally, the property is rent control-proof, making it a secure investment in an evolving market.
Location
State CA
County Los Angeles
Area 601 - Alhambra
Zoning ALP*
Interior
Fireplace No
Appliance Dryer, Washer
Laundry In Kitchen
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5338012007
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Fay Xu • Universal Elite Realty • Realtorfay@hotmail.com