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    1417 S Atlantic Boulevard

    Alhambra, CA 91803
    • $11,400,000
    • STATUS: ACTIVE
    • ON SITE: 17 days
    • ID#: AR21083340
    UPDATED: 23 min ago
    $11,400,000
    • 8
      BEDS
    • 0.53
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    1417 S Atlantic Blvd is a well maintained 36-unit multifamily investment located in the desirable City of Alhambra, California. This value-add apartment has been in the same ownership since 1990s, providing significant rental upside. The property is situated on the prominent Atlantic Blvd crossing the famed Valley Blvd where a myriad of retail stores, shopping centers and redevelopment projects are located. It is conveniently located minutes away from FWY10 and Atlantic Times Square- a mega retail & residential project (200,000 square feet of retail stores and 210 luxury condominiums). It is under CA AB1482 rent control ordinance which allows highest annual rent increase (5% + CPI). The property is a three-story building that was built in 1964 and situated on a 22,883 square feet lot. It offers a strong unit mix of a 3 bedroom+2 bathroom unit, nine 2 bedroom+2 bathroom units, and twenty six LARGE 1bedroom + 1bathroom units. It has an attractive curb appeal and high visibility due to its strategic location. The property has 31 private balconies and 1 large private patio, swimming pool, interior courtyard, and a shared laundry facility (seller owns the machines). It has an elevator and secured entrance. Each unit is bright and spacious. Some units have been beautifully updated with hardwood floors, refurbished cabinetries, and other renovations. Most of the units have a private balcony/patio. One of the 2bed unit has a 2-story townhouse style layout. The property has total of 54 parking spaces and an additional 2 car garage that is currently used as a storage facility. It has 1417 S Atlantic Blvd is a well maintained 36-unit multifamily investment located in the desirable City of Alhambra, California. This value-add apartment has been in the same ownership since 1990s, providing significant rental upside. The property is situated on the prominent Atlantic Blvd crossing the famed Valley Blvd where a myriad of retail stores, shopping centers and redevelopment projects are located. It is conveniently located minutes away from FWY10 and Atlantic Times Square- a mega retail & residential project (200,000 square feet of retail stores and 210 luxury condominiums). It is under CA AB1482 rent control ordinance which allows highest annual rent increase (5% + CPI). The property is a three-story building that was built in 1964 and situated on a 22,883 square feet lot. It offers a strong unit mix of a 3 bedroom+2 bathroom unit, nine 2 bedroom+2 bathroom units, and twenty six LARGE 1bedroom + 1bathroom units. It has an attractive curb appeal and high visibility due to its strategic location. The property has 31 private balconies and 1 large private patio, swimming pool, interior courtyard, and a shared laundry facility (seller owns the machines). It has an elevator and secured entrance. Each unit is bright and spacious. Some units have been beautifully updated with hardwood floors, refurbished cabinetries, and other renovations. Most of the units have a private balcony/patio. One of the 2bed unit has a 2-story townhouse style layout. The property has total of 54 parking spaces and an additional 2 car garage that is currently used as a storage facility. It has a secured gated parking and controlled access. The property is situated on the southwest side of Atlantic Blvd and Valley Blvd intersection and minutes away from FWY 10, Atlantic Times Square, and other national and local retailers along Valley Blvd. Atlantic Time Square is the focal point of the city and offers an array of restaurants, retail stores, as well as AMC theatre and 24 Hour Fitness. This location offers unparalleled convenience to tenants with its abundant access to public transportation and quick access to downtown Los Angeles via FWY 10.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
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    1417 S Atlantic Boulevard Alhambra, CA 91803

    • Price: $11,400,000
    • Status: ACTIVE
    • Updated: 23 min ago
    • ID#: AR21083340
    8
    Beds
    0
    Baths
    0
    ½ Baths
    0.53
    Acres
    Neighborhood:
    Alhambra (91803)
    County:
    Los Angeles
    Area:
    Alhambra (91803)
    Property Description
    1417 S Atlantic Blvd is a well maintained 36-unit multifamily investment located in the desirable City of Alhambra, California. This value-add apartment has been in the same ownership since 1990s, providing significant rental upside. The property is situated on the prominent Atlantic Blvd crossing the famed Valley Blvd where a myriad of retail stores, shopping centers and redevelopment projects are located. It is conveniently located minutes away from FWY10 and Atlantic Times Square- a mega retail & residential project (200,000 square feet of retail stores and 210 luxury condominiums). It is under CA AB1482 rent control ordinance which allows highest annual rent increase (5% + CPI). The property is a three-story building that was built in 1964 and situated on a 22,883 square feet lot. It offers a strong unit mix of a 3 bedroom+2 bathroom unit, nine 2 bedroom+2 bathroom units, and twenty six LARGE 1bedroom + 1bathroom units. It has an attractive curb appeal and high visibility due to its strategic location. The property has 31 private balconies and 1 large private patio, swimming pool, interior courtyard, and a shared laundry facility (seller owns the machines). It has an elevator and secured entrance. Each unit is bright and spacious. Some units have been beautifully updated with hardwood floors, refurbished cabinetries, and other renovations. Most of the units have a private balcony/patio. One of the 2bed unit has a 2-story townhouse style layout. The property has total of 54 parking spaces and an additional 2 car garage that is currently used as a storage facility. It has 1417 S Atlantic Blvd is a well maintained 36-unit multifamily investment located in the desirable City of Alhambra, California. This value-add apartment has been in the same ownership since 1990s, providing significant rental upside. The property is situated on the prominent Atlantic Blvd crossing the famed Valley Blvd where a myriad of retail stores, shopping centers and redevelopment projects are located. It is conveniently located minutes away from FWY10 and Atlantic Times Square- a mega retail & residential project (200,000 square feet of retail stores and 210 luxury condominiums). It is under CA AB1482 rent control ordinance which allows highest annual rent increase (5% + CPI). The property is a three-story building that was built in 1964 and situated on a 22,883 square feet lot. It offers a strong unit mix of a 3 bedroom+2 bathroom unit, nine 2 bedroom+2 bathroom units, and twenty six LARGE 1bedroom + 1bathroom units. It has an attractive curb appeal and high visibility due to its strategic location. The property has 31 private balconies and 1 large private patio, swimming pool, interior courtyard, and a shared laundry facility (seller owns the machines). It has an elevator and secured entrance. Each unit is bright and spacious. Some units have been beautifully updated with hardwood floors, refurbished cabinetries, and other renovations. Most of the units have a private balcony/patio. One of the 2bed unit has a 2-story townhouse style layout. The property has total of 54 parking spaces and an additional 2 car garage that is currently used as a storage facility. It has a secured gated parking and controlled access. The property is situated on the southwest side of Atlantic Blvd and Valley Blvd intersection and minutes away from FWY 10, Atlantic Times Square, and other national and local retailers along Valley Blvd. Atlantic Time Square is the focal point of the city and offers an array of restaurants, retail stores, as well as AMC theatre and 24 Hour Fitness. This location offers unparalleled convenience to tenants with its abundant access to public transportation and quick access to downtown Los Angeles via FWY 10.
    Exterior Features

    Parking Garage Desc Unit1 Assigned Pool Community/Common Units With Patios 32

    Interior Features

    Cooling Wall/Window Stories 3 Story Total Baths Unit1 2 Total Baths Unit2 2 Total Baths Unit3 1 Total Baths Unit4 1 Units With Cooling 36 Units With Range Oven 36 Units With Refrigerators 0 Units With Washers 0

    Property Features

    Actual Cap Rate 4.32 Annual Expense Actual 208440 Assessments Yes/Remarks Buildings 1 Gross Rent Multiplier Actual 15.78 Gross Scheduled Income Actual 722564 Home Owners Fees 0.0 Miscellaneous Value in Land Possession Close Of Escrow Tenant Pays ElectricityGas/Propane Terms CashConventional Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 2600.0 Unit2 Rent Actual 1801.0 Unit3 Rent Actual 1526.0 Unit4 Rent Actual 1950.0 Zoning Assessor

    Listing provided courtesy of Gig Real Estate Inc.. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    Carlsbad CA, 92008