1616 Cherry Ln | Alhambra, CA 91803
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1616 Cherry Ln
Alhambra, CA 91803
1616 Cherry Lane, Alhambra · Multifamily Property For Sale
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3 Units
Investment Highlights
- Positioned in a core San Gabriel Valley submarket of Alhambra, just a short walk (less than a half-mile) from numerous retail amenities
- Ideal Unit Mix - The unit mix consists of three, 1-bedroom/1-bathroom units, all of which are single-story and ground-level
- Extensive Capital Improvements - The property features extensive recent capital improvements, including brand new kitchen cabinetry and countertops
- Attractive Price Per Unit - An attractive going-in cost basis at only $275,000 per unit
- On-Site Parking - On-site parking is available via one 2-car garage and one single-car garage
- Significant Rental Upside - There is significant rental upside, with market rents exceeding double the current rental income
Property Facts
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1925 |
| Lot Size | 0.13 AC | Parking Ratio | 1.95/1,000 SF |
| Building Size | 1,536 SF | ||
| Zoning | ALRPD* | ||
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.13 AC |
| Building Size | 1,536 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1925 |
| Parking Ratio | 1.95/1,000 SF |
| Zoning | ALRPD* |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $950.00 | 512 |
Property Taxes
| Parcel Number | 5350-029-003 | Improvements Assessment | $33,549 |
| Land Assessment | $27,428 | Total Assessment | $60,977 |
Property Taxes
Parcel Number
5350-029-003
Land Assessment
$27,428
Improvements Assessment
$33,549
Total Assessment
$60,977
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