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    312 Primrose Ave Alhambra, CA 91801

    Sponsored
    For Sale
    $1,698,000

    4-Unit Bungalow, High ROI Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 4-unit apartment building in Alhambra, CA presents a compelling value-add investment opportunity. Situated on an 8,285 sq ft lot, this property comprises three 1-story buildings, featuring a desirable bungalow style. Built in 1924 and extensively renovated in 2023, the property boasts 100% occupancy and a current NOI of $69,885, projecting to $81,585. Recent capital improvements include a new roof (October 2023), updated landscaping, fresh exterior paint, and complete upgrades to one unit. Two units offer in-unit laundry. The property includes six parking spaces, two of which are in detached garages. All units are individually metered for gas and electricity. Located in a highly desirable North Alhambra neighborhood, adjacent to San Marino and South Pasadena, this property benefits from a Walk Score of 79, proximity to major freeways (10, 710, and 110), and convenient access to shopping, dining, and excellent schools. The property is zoned RPD and is offered fee simple. A June 2023 appraisal valued the property at $1.7 million (buyer to verify). Seller financing may be available (see offering memorandum). This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a prime location with significant upside potential. The asking price is $1,698,000, representing a price per unit of $424,500 and a current cap rate of 4.12%, with a pro-forma cap rate of 4.80%.

    Property Features for 312 Primrose Ave

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Year Built/Renovated
    1924/2023
    Buildings
    3
    Stories
    1
    Units
    4

    HighLights

    • Prime Alhambra location, near San Marino and South Pasadena; no local rent control (subject to CA 1482).
    • Two‑duplex property with desirable single‑story bungalow designs and detached rear garages.
    • Seller financing may be available (see OM page 25).
    • Recently appraised at $1.7M (June 2023); previously in escrow for $2M (Buyer to verify).
    • Upgraded units; two units include in‑unit laundry (included in sale).
    • Recent capital improvements: new roof (rear duplex, Oct 2023), landscaping, exterior paint (rear buildings & garage), and Unit 314 upgrades.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alhambra
    County
    Los Angeles
    State
    California
    Longitude
    -118.1488713
    Latitude
    34.0979962

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    FAQs

    What type of property is this?
    Multifamily property - 4-Unit Bungalow, High ROI Potential
    Where is this multifamily property located?
    The property is located at 312 Primrose Ave Alhambra, CA.
    What is the asking price?
    The asking price for this property is $1,698,000.
    What are key features of this property?
    This property features: Prime Alhambra location, near San Marino and South Pasadena; no local rent control (subject to CA 1482).; Two-duplex property with desirable single-story bungalow designs and detached rear garages.; Seller financing may be available (see OM page 25).
    Request Owner's contact information
    312 Primrose Ave Alhambra, CA 91801
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    Alhambra, CA 91801
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    312 Primrose Ave Alhambra, CA 91801
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