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5231 Alhambra Avenue
Los Angeles, CA 90032
Sold
5231 Alhambra Avenue
Los Angeles, CA 90032
Sold
Huge 100k Price Reduction! Rare Non-Rent Control (1989 built) 5-unit opportunity with 4 fully renovated vacancies in prime El Sereno. The property is ready to cash flow at an amazing Current Cap Rate of 6% and 12.4 GRM. Excellent unit mix of all spacious 2 bedroom, 1 bath units with 2 parking spaces for each unit. There's an additional upside to a 6.8% Cap Rate and 11.3 GRM on proforma. The property was built in 1989 and is not subject to LA City Rent control, therefore allowing for 10% annual increases (5% + CPI). The property was meticulously renovated in 2022 featuring exterior upgrades, new cabinets, flooring, lighting, bathrooms, stainless steel appliances, and washer/dryer in unit. Located in the El Sereno neighborhood of Los Angeles which is centrally located to downtown LA, Cal State LA University, and neighboring Alhambra and Pasadena. All units are individually metered for gas and the property has 10 tandem parking spaces in the back. In addition, there are preliminary plans to add 2 detached ADUs in the back for future upside.
PROPERTY INFORMATION
| MLS # | 23250953 | Lot Size | 5,016 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,895,000
Price Per SqFt: $ 541 |
DOM | 832 Days |
| Address | 5231 Alhambra Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 3,500 Sq. Ft. |
| Postal Code | 90032 | Garage | N/A |
| County | Los Angeles | Year Built | 1989 |
| Bed / Bath | 10 / 0 | Parking | 10 |
| Built In | 1989 | Status | Closed |
| Sold Date | 2023-05-12 |
INTERIOR FEATURES
| Kitchen Information | Remodeled Kitchen |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,021
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 03/14/2023 | Listed | $1,895,000 |
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Listing provided courtesy of Julio Ruiz, Global Platinum Properties, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
