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28 S Chapel Avenue

Alhambra, CA 91801
  • $4,300,000
  • STATUS: Active
  • ON SITE: 9 Days
  • ID#: CV21222467
UPDATED: 62 min ago
$4,300,000
  • 0
    BEDS
  • 0.82
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1984
County:

School Ratings & Info

Description

A seven condo portfolio multifamily opportunity located in the City of Alhambra! 28-32 S. Chapel Avenue is located on South Chapel Avenue between East Main Street and East Bay Street in the heart of Alhambra. The property offers walkable access to Alhambra Place, a 120,000-square-foot retail center with popular shops and restaurants. The highly convenient location offers easy access to the 10 and 210 freeway and is located near several elementary, middle and high schools. The area also offers convenient access to the San Gabriel Valley Medical Center, Cal State LA, The Westfield Santa Anita, East Los Angeles College and the Alhambra Golf Course. 28-32 S. Chapel Avenue is a rare, non-rent controlled, three-story, seven-unit portfolio of condos that are individually parceled. Built in 1984, the property is situated on a 35,741 square foot lot with a total building size of 11,711 square feet. The property offers an excellent unit mix of seven total units averaging 1,673 square feet. Alhambra is a city located in the western San Gabriel Valley region of Los Angeles County. It is ideally located by offering convenient access to the neighboring cities within the San Gabriel Valley, Los Angeles County and San Bernardino County. The property is less than 30 miles from LAX and a short drive from Downtown Los Angeles and Pasadena. Significant local landmarks within a 20-mile radius include: The Huntington Library, The Rose Bowl, Dodger Stadium, The Staples Center, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios, and more. 28-32 S. Chapel Avenue features tri-level spacious units with central air and heating, washer and dryer hook-up, kitchen with appliances, a formal dining area, carpet, stone, tile and vinyl flooring, master bedroom with walk-in closet, a fireplace, and attached two-car garage. 28-32 S. Chapel Avenue is a great long-term investment. The property is in a highly desirable, non-rent-controlled area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-16T23:26:27.217. 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 deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
www.theparsonsrealestateteam.com/homes/122156554
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28 S Chapel Avenue Alhambra, CA 91801

  • Price: $4,300,000
  • Status: Active
  • Updated: 62 min ago
  • ID#: CV21222467
0
Beds
0
Baths
0
½ Baths
0.82
Acres
1984
Built
Neighborhood:
601 - Alhambra
County:
Los Angeles
Area:
601 - Alhambra
Property Description
A seven condo portfolio multifamily opportunity located in the City of Alhambra! 28-32 S. Chapel Avenue is located on South Chapel Avenue between East Main Street and East Bay Street in the heart of Alhambra. The property offers walkable access to Alhambra Place, a 120,000-square-foot retail center with popular shops and restaurants. The highly convenient location offers easy access to the 10 and 210 freeway and is located near several elementary, middle and high schools. The area also offers convenient access to the San Gabriel Valley Medical Center, Cal State LA, The Westfield Santa Anita, East Los Angeles College and the Alhambra Golf Course. 28-32 S. Chapel Avenue is a rare, non-rent controlled, three-story, seven-unit portfolio of condos that are individually parceled. Built in 1984, the property is situated on a 35,741 square foot lot with a total building size of 11,711 square feet. The property offers an excellent unit mix of seven total units averaging 1,673 square feet. Alhambra is a city located in the western San Gabriel Valley region of Los Angeles County. It is ideally located by offering convenient access to the neighboring cities within the San Gabriel Valley, Los Angeles County and San Bernardino County. The property is less than 30 miles from LAX and a short drive from Downtown Los Angeles and Pasadena. Significant local landmarks within a 20-mile radius include: The Huntington Library, The Rose Bowl, Dodger Stadium, The Staples Center, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Hollywood Bowl, Universal Studios, and more. 28-32 S. Chapel Avenue features tri-level spacious units with central air and heating, washer and dryer hook-up, kitchen with appliances, a formal dining area, carpet, stone, tile and vinyl flooring, master bedroom with walk-in closet, a fireplace, and attached two-car garage. 28-32 S. Chapel Avenue is a great long-term investment. The property is in a highly desirable, non-rent-controlled area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Exterior Features

Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 7 Open Parking Spaces 4 Parking Features Garage Parking Total 11 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Additional Parcels YN Yes Association YN Yes Cap Rate 2.23 Common Interest Condominium Community Features CurbsSidewalks Garage YN Yes Gross Income 175473 Gross Scheduled Income 180900 Insurance Expense 0 Land Lease YN No Laundry Features Electric Dryer HookupGas Dryer Hookup Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 7896 Net Operating Income 95852 New Construction YN No New Taxes Expense 49484 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 7 Number Of Units Leased 7 Operating Expense 79622 Other Expense 14700 Possession Close Of Escrow Property Sub Type Condominium Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 1400 Tenant Pays ElectricityGasTrash CollectionWater Total Actual Rent 180900 Trash Expense 0 Vacancy Allowance 5427 Water Source Public Zoning Alrpd*

Listing provided courtesy of Eric Chen of Cb Richard Ellis


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-16T23:26:27.217. 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 deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
 
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