Sold
Closed
5231 Alhambra Avenue
Los Angeles CA, 90032
$1,670,000
$477.14 per sqft
Sold
Closed
10 Beds
5 Baths
3,500 sqft
Residential
Built in 1989
Listed by Julio Ruiz with Global Platinum Properties, Inc. 818-524-0706
Huge 100k Price Reduction! Rare Non-Rent Control (1989 built) 5-unit opportunity with 4 fully renovated vacancies in prime El Sereno. The property is ready to cash flow at an amazing Current Cap Rate of 6% and 12.4 GRM. Excellent unit mix of all spacious 2 bedroom, 1 bath units with 2 parking spaces for each unit. There's an additional upside to a 6.8% Cap Rate and 11.3 GRM on proforma. The property was built in 1989 and is not subject to LA City Rent control, therefore allowing for 10% annual increases (5% + CPI). The property was meticulously renovated in 2022 featuring exterior upgrades, new cabinets, flooring, lighting, bathrooms, stainless steel appliances, and washer/dryer in unit. Located in the El Sereno neighborhood of Los Angeles which is centrally located to downtown LA, Cal State LA University, and neighboring Alhambra and Pasadena. All units are individually metered for gas and the property has 10 tandem parking spaces in the back. In addition, there are preliminary plans to add 2 detached ADUs in the back for future upside.
23250953
MLSⓇ ID
March 14, 2023
Listed
August 28, 2024
Updated
Map
5231 Alhambra Avenue
Los Angeles CA, 90032
Interior Features
Total Stories
3
Bedrooms
10
Total Bathrooms
5
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.12 Acres
Other Property Details
Area Name
621 - El Sereno
Days on Market
45
Garage
Yes
Parking
Garage, Tandem
Parking Total
10
View
No
County
Los Angeles
Pool
No
Zoning
LAC2
Listing History
Date | Event | Price |
---|---|---|
5/13/2023 | Price change | $1,670,000 -12% |
5/13/2023 | Sold | $1,670,000 |
Listing Contact: 818-524-0706
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/28/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 8/28/2024 at 9:58 PM UTC