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5-Unit 2 Parcel Value-Add Investment 5501-5505 Alhambra Ave 5 Unit Apartment Building $945,000 ($189,000/Unit) 5.41% Cap Rate Los Angeles, CA 90032
INVESTMENT HIGHLIGHTS
- A rare two property assemblage, two adjacent properties for sale.
- Upgraded power panel, all units individually metered
- All tenants are month to month: huge upsides in the rent after stabilization.
- A 5.38% CAP rate in place, a good CAP rate for the region
- Mixed-use zoning, allows for retail or office in the front 850± SF unit
- 100% occupied in a high rental demand area, easy to rent location.
EXECUTIVE SUMMARY
5501–5505 Alhambra Avenue is a five-unit, two-parcel mixed-use investment in a high-demand NELA submarket of El Sereno, near Alhambra and South Pasadena. The property offers stabilized income with clear upside.
The asset consists of two structures totaling approximately 3,240 square feet on a 7,905 square-foot corner lot, featuring four residential units and one ground-floor office or retail suite. Units are separately metered and supported by shared laundry facilities. A gated parking area provides up to ten spaces with dual street access.
In-place operations reflect a 5.4% cap rate, with upside through lease-up and rent growth. One commercial unit is currently vacant and fully renovated, allowing a new owner to secure a tenant at market rent. The main electrical panel has been upgraded.
The residential mix includes two three-bedroom, one-bath units; one two-bedroom, one-bath unit; and one detached one-bedroom, one-bath house. A bonus studio space provides additional flexibility for storage or potential future conversion, subject to city approvals.
Located just north of Cal State LA, the property benefits from convenient access to the 710, 10, 110, and 5 freeways, supporting strong rental demand from nearby employment centers and surrounding retail corridors.
With limited comparable inventory in the submarket, 5501–5505 Alhambra Avenue presents a stable income-producing asset with measurable upside in Northeast Los Angeles.
For additional details or to arrange a meeting, contact John at 323-327-3686.
The asset consists of two structures totaling approximately 3,240 square feet on a 7,905 square-foot corner lot, featuring four residential units and one ground-floor office or retail suite. Units are separately metered and supported by shared laundry facilities. A gated parking area provides up to ten spaces with dual street access.
In-place operations reflect a 5.4% cap rate, with upside through lease-up and rent growth. One commercial unit is currently vacant and fully renovated, allowing a new owner to secure a tenant at market rent. The main electrical panel has been upgraded.
The residential mix includes two three-bedroom, one-bath units; one two-bedroom, one-bath unit; and one detached one-bedroom, one-bath house. A bonus studio space provides additional flexibility for storage or potential future conversion, subject to city approvals.
Located just north of Cal State LA, the property benefits from convenient access to the 710, 10, 110, and 5 freeways, supporting strong rental demand from nearby employment centers and surrounding retail corridors.
With limited comparable inventory in the submarket, 5501–5505 Alhambra Avenue presents a stable income-producing asset with measurable upside in Northeast Los Angeles.
For additional details or to arrange a meeting, contact John at 323-327-3686.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$86,640
|
$26.74
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$86,640
|
$26.74
|
| Taxes |
$6,478
|
$2.00
|
| Operating Expenses |
$7,000
|
$2.16
|
| Total Expenses |
$13,478
|
$4.16
|
| Net Operating Income |
$73,162
|
$22.58
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $86,640 |
| Annual Per SF | $26.74 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $86,640 |
| Annual Per SF | $26.74 |
| Taxes | |
|---|---|
| Annual | $6,478 |
| Annual Per SF | $2.00 |
| Operating Expenses | |
|---|---|
| Annual | $7,000 |
| Annual Per SF | $2.16 |
| Total Expenses | |
|---|---|
| Annual | $13,478 |
| Annual Per SF | $4.16 |
| Net Operating Income | |
|---|---|
| Annual | $73,162 |
| Annual Per SF | $22.58 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Satellite TV
- Den
- Garden
- Pantry
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Fenced Lot
- Laundry Facilities
- Gated
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 3 | $1,875 | 750 |
| 2+1 | 1 | $1,195 | 580 - 620 |
| 1+1 | 1 | $1,045 | 370 |
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 5220-023-014 | Total Assessment | $312,774 (2025) |
| Land Assessment | $106,623 (2025) | Annual Taxes | $6,478 ($2.00/SF) |
| Improvements Assessment | $206,151 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5220-023-014
Land Assessment
$106,623 (2025)
Improvements Assessment
$206,151 (2025)
Total Assessment
$312,774 (2025)
Annual Taxes
$6,478 ($2.00/SF)
Tax Year
2024
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Presented by
John Hanrahan
5-Unit 2 Parcel Value-Add Investment | 5501-5505 Alhambra Ave
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