tomo logo

$2,600,000

Beds
Unknown
sq ft
3,840

22 N Electric Ave, Alhambra, CA 91801

22 N Electric Ave

Alhambra, CA 91801

  • 71 days on market
We are delighted to present an exceptional income property opportunity in the heart of Alhambra, perfectly suited for savvy investors seeking both short-term and long-term rental potential. This fully renovated multi-family property comprises five units: one 1-bedroom, 1-bath unit with the potential to convert into a 3-bedroom, and four 2-bedroom, 1-bath units. Each unit has been meticulously updated within the last year, featuring new flooring, fresh paint, and comes fully furnished, making them perfect for Airbnb or long-term tenants, offering flexibility in a high-demand rental market. This property offers unparalleled flexibility in a high-demand rental market. Strategically located just 15 minutes from Downtown Los Angeles, it presents a unique high-growth investment opportunity. The sale includes the existing Airbnb listings for all 5 units, ensuring positive cash flow from the close of escrow. Whether you're looking to continue the thriving short-term rental operation or transition to long-term leases, this property provides unmatched flexibility in a high-demand rental market. Its central location positions it as a prime asset ahead of major upcoming events, such as the 2026 FIFA World Cup and the 2028 Olympics, ensuring a steady stream of rental income. Additionally, the property is rent control-proof, making it a secure investment in an evolving market.

Details

Property type

Apartment

Est. home value

$2,017,498

Lot size

7,621 sq ft

Price per sq ft

$678

Year built

1948

Price History

08/26/2024
CRMLS

CRMLS #AR24172997

Listed
$2,600,000
+36.84%
03/31/2023
CRMLS

CRMLS #AR22245447

Sold
$1,900,000
+5.56%
03/05/2020
CLAW

CLAW #20546932

Sold
$1,800,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Sidewalks

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

United Commercial Bank

Loan start date

June 1999

Original loan amount

$217,000

Est. remaining balance

Not provided

Interest rate

7.02%

Loan type

Commercial

Seller

Peter J W Yu and Nancy Yu

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/05/2024 at 5:50 AM

Listing updated: 10/19/2024 at 5:00 AM

Listed by: Fay Xu, Universal Elite Realty Phone #: (949) 379-6713

MLS: CRMLS #AR24172997

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