221 S Bushnell Ave 4 Unit Apartment Building Offered at $1,550,000 at a 3.73% Cap Rate Alhambra, CA 91801

Constructed in 1951, the property sits on a ±6,250 square-foot lot with a total building size of ±3,125 square feet. Positioned at the intersection of South Bushnell Avenue in central Alhambra, the property benefits from immediate proximity to Valley Boulevard and Fremont Avenue, two of the area's primary retail corridors. The location offers exceptional connectivity, with convenient access to the 10 and 710 Freeways, and is minutes from Cal State University, Los Angeles and approximately 8 miles from Downtown Los Angeles. Neighboring cities include Monterey Park, San Gabriel, and Temple City.
The property features an ideal unit mix of two 1-bedroom/1-bathroom units and two 2-bedroom/1-bathroom units, averaging 781 square feet per unit. Each residence has been thoughtfully updated and features renovated interiors with fully equipped kitchens, updated cabinetry, tile flooring, recessed lighting, upgraded bathroom sinks and showers, split air conditioning units, laminate wood flooring, and vertical blinds. On-site covered parking is available for all residents with ample street parking. The property presents a well-maintained exterior with newer exterior paint and mature, lush landscaping throughout.
This offering presents an exceptional investment opportunity. At a going-in cost basis of $387,500 per unit, the property provides a strategic entry point for investors, with a current CAP rate of 3.73% and a pro forma CAP rate of 4.25% upon capturing the available 10% rental upside. Not subject to any local rent control, 221 S Bushnell Avenue is a stable residential income-producing asset positioned for long-term growth and capital appreciation. The property is well-suited for a variety of investment strategies, for a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.