Active

22 N Electric Avenue

Alhambra CA, 91801

$2,480,000


$645.83 per sqft

Active

3,840 sqft

Condos

Built in 1948

Listed by Fay Xu with Universal Elite Realty [email protected]

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.

AR24172997

MLS ID

August 26, 2024

Listed

November 19, 2024

Updated

Map

22 N Electric Avenue
Alhambra CA, 91801

Interior Features

Total Stories

2


Appliances

Dryer, Washer


Laundry Description

In Kitchen


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.17 Acres


Lot Features

Rectangular Lot


Sewer

Public Sewer

Other Property Details

Area Name

601 - Alhambra


Days on Market

85


Garage

Yes


Garage Spaces

5


Parking Total

5


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

ALP*

Listing History

Date

Event

Price

10/31/2024

Price change

$2,480,000

-5%

Listing Contact: 949-379-6713 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/19/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 11/19/2024 at 7:42 PM UTC

 

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