428 N Garfield Avenue, Alhambra, CA 91801
Local realty services provided by:Better Homes and Gardens Real Estate Napolitano & Associates
Listed by:han chen
Office:growth investment group pasade
MLS#:AR25171707
Source:SANDICOR
Price summary
- Price:$1,580,000
About this home
Close to 7% Proforma CAP Rate. First time for sale for more than 34 years. A prime 5-unit value add deal located in north Alhambra and just steps away from downtown Alhambra on Garfield Ave & Main St. It is situated on Garfield Ave and adjacent to both San Marino and South Pasadena; yet it provides convenience to tenants due to its strategic location just within minutes to many area amenities like shopping (Costco, Target), Alhambra Park, schools, churches, downtown Alhambra on Main Street, and easy access to FWY 10 and FWY 110 via Fremont Ave. This property offers investors an opportunity to buy an easy to manage and rent apartment in the best location of Alhambra. Most tenants are on month-to-month rental agreement providing immediate upside on rent increases. The area does not have any local rent control (it is under California AB1482 rent control). The property is a two-story garden style apartment that was built in 1963. It has an unusual large building size of 4,226 SF which translates to large average unit size of 845 SF/unit. It is on a large 7,490 SF lot. It has an excellent unit mix of one (1) x large 2bed+1.5bath+den, two (2) x 2bed+1bath, and two (2) x 1bed+1bath units. The 2bed+1bath+den is an unusually large 1100-1200SF unit (buyer to verify). Some of the unit(s) have updated flooring. The kitchen and bathroom are not upgraded. Most of the units are well maintained. The current income is estimated 80% below market (buyer to verify), thus providing an attractive investment for a savvy multifamily investor. The property has a total of 8 parking spaces provided b
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Home facts
- Listing Id #:AR25171707
- Added:163 day(s) ago
- Updated:August 14, 2025 at 02:11 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:4
Heating and cooling
- Cooling:Wall/Window
Finances and disclosures
- Price:$1,580,000
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