Homes for sale - 22 N Electric AVE, Alhambra, CA 91801

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Max Lindenberger

max.lindenberger@engelvoelkers.com

$ 2,480,000

Est. payment -/mo

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Price Dropped by $120K

22 N Electric AVE Alhambra, CA 91801

7,623 Sqft Lot

UPDATED:

11/19/2024 07:13 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

Max Lindenberger

Advisor | License ID: 02073155

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