5501 Alhambra AveLos Angeles, CA 90032

This exceptional 5-unit mixed-use property, situated on two adjacent parcels in Los Angeles, CA (90032), presents a compelling value-add investment opportunity. The 3,240 square foot building, constructed in 1933 and renovated in 2011, boasts a desirable C2 zoning designation, allowing for diverse uses. Currently 100% occupied with five tenants (four apartments and one retail space), the property generates a current NOI of $52,521, with a pro-forma NOI projected at $115,000. This translates to a current cap rate of 4.77% and a pro-forma cap rate of 10.45%. The asking price is $1,100,000, representing $339.51 per square foot and $220,000 per unit. The property features 10 parking spaces within a gated lot, and sits on a 7,905 square foot lot ($139/SF land value). Its prime location in Northeast Los Angeles, near Cal State University, offers excellent visibility and high walkability (Walk Score of 90/100). The property's strategic location on Alhambra Avenue provides easy access to major freeways and numerous amenities, including nearby universities, shopping centers, and businesses. The existing month-to-month leases provide immediate upside potential through rent increases, and the property's zoning allows for potential expansion and development opportunities, including the addition of accessory dwelling units (ADUs). All units have individually metered power, with a 5-meter electric panel upgraded in 2011. This is a rare chance to acquire two adjacent properties in a thriving Los Angeles neighborhood.