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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
We are pleased to present 5501–5505 Alhambra Avenue, a five-unit, 2 parcel, mixed-use investment property located in the El Sereno neighborhood of NELA Los Angeles, near Alhambra and South Pasadena. This is a great opportunity to acquire a stabilized income asset with clear upside potential.
The property consists of two well-maintained structures totaling approximately 3,240 square feet on a 7,905 square-foot corner lot. The mix includes four apartment units, one office or retail suite, and shared laundry facilities. All units are separately metered. A gated parking area provides space for up to ten cars with dual street access.
Current income reflects a 5.38 percent cap rate based on in-place operations, with potential to improve returns through lease-up and continued modernization. One commercial unit on the ground floor is currently vacant, allowing a new owner to select tenants and achieve market rent. The main electrical panel has been upgraded, and the commercial suite has been fully renovated.
The residential mix features two three-bedroom, one-bath units; one two-bedroom, one-bath unit; and one detached one-bedroom, one-bath house. An additional studio space provides flexibility for storage or future conversion, subject to city approvals.
Located just north of Cal State LA and minutes from South Pasadena and Alhambra, the property offers excellent access to the 710, 10, 110, and 5 freeways. The surrounding neighborhood maintains strong rental demand supported by proximity to major employers including USC Keck Medical Center, Kaiser Permanente, Grifols Corporate Campus, and Cal State LA. Nearby amenities include Target, Costco, Starbucks, Home Depot, LA Fitness, and The Shops at The Alhambra.
El Sereno continues to see steady improvement in its housing and commercial sectors while preserving its established community character. With limited comparable inventory and ongoing tenant demand, 5501–5505 Alhambra Avenue offers investors dependable income with measurable room for growth in a desirable Los Angeles submarket.
For additional details or to arrange a meeting contact John at 323-327-3686.
The property consists of two well-maintained structures totaling approximately 3,240 square feet on a 7,905 square-foot corner lot. The mix includes four apartment units, one office or retail suite, and shared laundry facilities. All units are separately metered. A gated parking area provides space for up to ten cars with dual street access.
Current income reflects a 5.38 percent cap rate based on in-place operations, with potential to improve returns through lease-up and continued modernization. One commercial unit on the ground floor is currently vacant, allowing a new owner to select tenants and achieve market rent. The main electrical panel has been upgraded, and the commercial suite has been fully renovated.
The residential mix features two three-bedroom, one-bath units; one two-bedroom, one-bath unit; and one detached one-bedroom, one-bath house. An additional studio space provides flexibility for storage or future conversion, subject to city approvals.
Located just north of Cal State LA and minutes from South Pasadena and Alhambra, the property offers excellent access to the 710, 10, 110, and 5 freeways. The surrounding neighborhood maintains strong rental demand supported by proximity to major employers including USC Keck Medical Center, Kaiser Permanente, Grifols Corporate Campus, and Cal State LA. Nearby amenities include Target, Costco, Starbucks, Home Depot, LA Fitness, and The Shops at The Alhambra.
El Sereno continues to see steady improvement in its housing and commercial sectors while preserving its established community character. With limited comparable inventory and ongoing tenant demand, 5501–5505 Alhambra Avenue offers investors dependable income with measurable room for growth in a desirable Los Angeles submarket.
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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MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
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Presented by
John Hanrahan
5-Unit 2 Parcel Value-Add Investment | 5501-5505 Alhambra Ave
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