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18324309
18324308

312-314 N Primrose Avenue, Alhambra, CA 91801

HC
CA 01749321
Growth Investment Group
Listed by Growth Investment Group
$1,625,000
728 days on market
Updated 45 days ago

312 N Primrose Avenue

Details
APN 5339014004
Property Type Multifamily
Sub Type Apartment Building
Units 4
Cap Rate 4.63%
NOI $75,287
Occupancy 100%
Pro-Forma Cap Rate 5.33%
Pro-Forma NOI $86,687
Broker Co-Op Yes
Class B
Year Built 1924
Year Renovated 2023
Buildings 3
Stories 1
Acreage 0.189
Zoning Assessor
Parking Spaces 7 spaces
Investment Type Value Add
Ground Lease No
Ownership FEE SIMPLE
Sale Condition 1031 exchange

Multifamily | 4 Units | $406,250/unit

Marketing description

312-314 N Primrose Ave, Alhambra. It is a single-story bungalow style fourplex located in the best location of Alhambra. It is situated on a quiet residential street in north 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. This offering provides investor with opportunity to buy an easy to manage and rent apartment investments in the best location of Alhambra. The property has undergone many capital improvements, most recent ones are new drought tolerant landscaping (front lawn) and new exterior paint (back duplex + garage). The building consists of two duplexes. The front duplex consists of two x 1bedroom+1bathroom bungalow style units. Each unit comes with in-unit laundry machines (seller provided). One of the front units (#312) has been partially upgraded with luxury vinyl wood flooring, quartz kitchen countertops, new kitchen, recessed lightings, and new laundry machines (come with the property). The other front unit (#314) has been fully upgraded with new kitchen, new flooring, new stainless-steel appliances, in-unit laundry machines, new A/C, new windows, etc. The back duplex consists of one x 1bedroom+1bathroom, and one x studio. Both back units have been completely upgraded with new flooring, new kitchen (cabinets and quartz countertops), recessed lightings, and mini split A/C and heating un

Investment highlights

INVESTMENT HIGHLIGHTS

  • Best Location in Alhambra, north Alhambra, adjacent to both San Marino and South Pasadena; NO LOCAL Rent Control (only CA 1482)

  • Highly desirable single-story, bungalow-style design; Two duplexes layout with detached garage in the back

  • Overparked with 7 parking spaces (5 open + 2 garage)

  • All units have been upgraded in some ways, two units have in-unit laundry machines (machines come with the sale)

  • Recent CAPEX completed: new roof in back duplex (October 2023), new beautiful drought tolerant landscaping (front), new exterior paint in back buildings + garage, complete upgrade for unit 314

  • Strong demographics with an average household income of ±$105,805 within a-mile radius

  • Walk Score 79 (very walkable) location

  • Minutes to Target, Costco, Home Depot, LA Fitness, excellent schools, supermarkets, and restaurants

  • 6 total parking spaces including 2 detached garages, no soft story retrofit required!

  • All units separately metered for electricity and gas

  • Excellent access to FWY 10, FWY 710 and FWY 110

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Listing Contacts

HC
CA 01749321
Growth Investment Group
Listed by Growth Investment Group

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$75,287.00
$6,273.92/mo

Valuation Metrics

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DSCR
4.63%
Cap Rate
4.63%
ROI

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