22 N Electric Ave
Alhambra, CA 91801
5 Units in Alhambra | 80% VACANT · Multifamily Property For Sale · 5 Units

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 22 North Electric Avenue, a ?ve unit multifamily building located in the city of Alhambra, a core market in the San Gabriel Valley. The property borders the affluent neighborhoods of San Marino and South Pasadena, and is only ?fteen minutes from Downtown Los Angeles. It is also proximate to Downtown Alhambra with convenient access to Atlantic Time Square, Old Town Pasadena, Costco, Target, and the 10 and 110 Freeways. The asset’s stellar location and condition offer a new investor high rental potential. The meticulously maintained property built in 1948/1949 consists of one detached one-bedroom/one-bathroom house and one fourplex comprised of two-bedroom/one-bathroom units. It is strategically positioned to avoid recent rent control regulations by having four out of ?ve units delivered vacant at the close of escrow. Two of those four units are already rent-ready and have been tastefully renovated with newly painted two-tone walls, dual pane windows, upgraded wood ?oors, white carrera marble-like tiles, granite countertops, and new electrical panels. The occupied unit has also been renovated similarly in 2017. The subject property also features ?ve detached one-car garages with remote controlled entry, separate meters for gas and electricity, high BTU electric combination wall heating and air conditioning units, pitched roofs, individual water heaters, and washer and dryer hookups for each unit, which add signi?cant rental value. This is a rare opportunity for an investor to acquire a stabilized, “Rent Control-Proof” asset that has been diligently maintained and renovated with classic European charm in a highly sought-after Alhambra location. Soft story retro?t is not required, which saves thousands of dollars in capital expenditures. Income and Expenses are based entirely off of projections and do not represent the current performance of the property.