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1515 W Commonwealth Ave 8 Unit Apartment Building $2,750,000 ($343,750/Unit) 4.08% Cap Rate Alhambra, CA 91803
INVESTMENT HIGHLIGHTS
- Walking distance to Alhambra Costco Wholesale (0.5 miles away).
- Four (4) units can be delivered vacant.
- Parking on Bushnell Ave and Commonwealth Ave.
EXECUTIVE SUMMARY
A rare opportunity in Alhambra, CA! This 8-unit apartment property, on the market for the first time since 1959, offers a prime corner location with parking on both Bushnell Ave and Commonwealth Ave. The unit mix includes six 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, with four units to be delivered vacant, presenting immediate market rent potential. This low-maintenance property features separate gas and electric meters for each unit, a master water meter, and 7 garage parking spaces plus 1 open space. On-site washer and dryer units, owned by the landlord and included in the sale, provide additional income opportunities. Conveniently located within walking distance of Costco Wholesale (0.5 miles) and with easy access to the 710 and 10 freeways, this property is perfect for investors seeking a solid, long-term asset with very low vacancy.
FULL MARKETING PDF LINK (INCLUDING FINANCIALS AND RENT ROLL):
https://www.donaldlarealty.com/commercial/properties/1515-w-commonwealth-ave-alhambra-ca-91803/
FULL MARKETING PDF LINK (INCLUDING FINANCIALS AND RENT ROLL):
https://www.donaldlarealty.com/commercial/properties/1515-w-commonwealth-ave-alhambra-ca-91803/
PROPERTY FACTS
| Price | $2,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $343,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.08% | Building Size | 6,392 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1951 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Zoning | RPD | ||
| Price | $2,750,000 |
| Price Per Unit | $343,750 |
| Sale Type | Investment |
| Cap Rate | 4.08% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,392 SF |
| No. Stories | 2 |
| Year Built | 1951 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | RPD |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Microwave
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Den
- Family Room
SITE AMENITIES
- 24 Hour Access
- Storage Space
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 6 | - | - |
1 1
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 5343-006-001 | Improvements Assessment | $145,847 |
| Land Assessment | $43,850 | Total Assessment | $189,697 |
PROPERTY TAXES
Parcel Number
5343-006-001
Land Assessment
$43,850
Improvements Assessment
$145,847
Total Assessment
$189,697
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1515 W Commonwealth Ave
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