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Alhambra, CA 91801 920 N 1st Street

$5,800,000

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Presented By: Ryan Loria with Triqor Group;
  • MLS# PW24067638
  • 04/05/2024
  • Request Tour
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  • BedBeds • 22
  • BathBaths • 2
  • FootageSQFT • 10,911

Home Details

We are pleased to present First Street Apartments, a 16-unit apartment complex in the desirable city of Alhambra, CA. The property is located near Downtown Alhambra and borders the affluent communities of South Pasadena and San Marino. The property features an ideal unit mix consisting of one and two-bedroom units, gated entry, covered parking, owned laundry facility, individual gas and electric meters, and partial copper plumbing. The asset has been meticulously maintained and professionally managed with upgrades including a new Roof (2016), exterior paint on building and railings, new washers and dryers, and upgraded exterior lighting. Recently renovated units have laminate wood flooring, granite countertops, stainless steel appliances, and new A/C and heating. In-place rents generate a current cap rate of 4.1%, 5.4% with market rents offering an investor approx. 20% rental upside. This is a rare and unique opportunity for an investor to acquire a well maintained asset, in a highly sought-after location.
Presented By: Ryan Loria with Triqor Group;

Interior Features for 920 N 1st Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Street SuffixStreet
Total Stories2

Other Rooms

Entry Level1

General for 920 N 1st Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityAlhambra
Community FeaturesSuburban
CountyLos Angeles
Days on Market19
DirectionsDriving North on N. Atlantic Blvd., Turn right onto N. 1st St., Property is on your left.
Electric Expense0.0
Entry Location1
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income370041.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsConventional
Lot Size Square Feet14705.0
MLS Area601 - Alhambra
MobileHomeRemainsYNNo
Net Operating Income235547.0
New ConstructionNo
Operating Expense134495.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street Name1st
Tax Lot6
Total Units16
Trash Expense0.0
View Y/NNo
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1959
Year Built SourcePublicRecords
ZoningALRPD*

Exterior for 920 N 1st Street

Building Area Total10911.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesRectangularLot
Lot Size Acres0.3376
Lot Size Area14705.0
Lot Size SourcePublicRecords
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters16
Number of Separate Gas Meters16
Number of Separate Water Meters0
Open Parking Y/NNo
SpaNo
Total Parking0.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $5,800,000
MLS#PW24067638
List Date 04/05/2024
Property Type Multi-Family
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors