231 Alhambra Ave Monterey Park, CA 91755-1943
- Apartment buildings
- 9,290 SF
- 0.39 lot acres
Current Use by Public Records
- Venus Apartments / Apartment Building
Property Details for 231 Alhambra Ave
- Year built
- 1963
- Construction
- WOOD
- Lot size
- 0.39 lot acres
- Property size
- 9,290 SF
- Zone code
- MPR3YY
- Property type
- Apartment buildings
- APN
- 5255-019-011
- APU
- 5255019011
Description
This 12-unit apartment building, located at 231 N Alhambra Ave in Monterey Park, California, presents a compelling value-add investment opportunity. The property, built in 1963, offers 9,290 square feet of net rentable space across six one-bedroom and six two-bedroom units. Situated on a 16,858 square foot lot, the two-story building includes 14 parking spaces. Currently classified as a Class B property, the building offers significant potential for increased income through strategic rent increases and renovations, as current rents are below market levels. The property's prime location in Monterey Park, within Los Angeles County (APN 5255-019-011), provides easy access to major freeways (including the 10 Freeway), connecting residents to Downtown Los Angeles and the San Gabriel Valley. The area boasts a rich cultural diversity and a strong community, with abundant retail, dining, and entertainment options nearby. This is a fee-simple interest offering, with no ground lease. The asking price for this multifamily investment is $3,800,000. The property's strong tenant demand and location within a thriving community make it an attractive investment for those seeking to capitalize on the potential for increased cash flow and property appreciation.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Monterey Park
- County
- Los Angeles
- State
- California
- Longitude
- -118.117
- Latitude
- 34.0648
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
