2005 & 2007 South Stoneman Avenue — Sale in Alhambra, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Alhambra, CA 91801

Investment Figures

Cap rate
4.48%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 2005 & 2007 South Stoneman Avenue, a 9-unit multifamily investment property in the city of Alhambra, California. The property is conveniently located just south of the Interstate 10 Freeway and east of the Garfield Avenue on/off ramp, providing residents with easy commute to Downtown Los Angeles and to nearby cities within San Gabriel Valley. The subject property is situated in a quiet neighborhood that is mostly single-family residences. Constructed in 1960, the property consists of two contiguous parcels with a total of 0.26 acres (11,346 square feet) and a combined building area of 5,363 square feet. 2005 South Stoneman Avenue is a two-story fourplex featuring all one-bedroom/one-bathroom floor plans with four carport parking spaces. 2007 South Stoneman Avenue is a two-story 5-unit apartment complex consisting of four one-bedroom/one-bathroom floor plans and a two-bedroom/two-bathroom floor plan and offers six tuck-under parking spaces. Both buildings have pitched roofs, covered stairwells to the upstairs units, and a shared on-site laundry room with one washer & one dryer (laundry machines are owned). Plumbing has been re-piped & the roofs are approximately 15 years old. Select units have been upgraded with new double-pane windows, and all units offer wall-unit air conditioning. All units are individually metered for gas and electricity and have separate hot water heaters. The apartments have a superb central location that offers multiple supermarkets, diverse dining options, entertainment, schools, churches, and medical facilities within a two-mile radius. The property has a high probability to attract long term residents with its very walkable score of 79 to amenities such as Mark Keppel High School that is an 8-minute walk east of the property and Garfield Medical Center that is a 7-minute walk south of the property. The apartment is surrounded by popular shopping centers includin

Market Context

This multifamily in Alhambra, CA is listed for sale. It is offered at an approximate 4.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Alhambra, CA — view the full market.

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