24 N Electric Ave - Apartments FOR SALE


Alhambra, CA 91801
$2,480,000 USD
909-979-0207
24 N Electric Ave, Alhambra, CA for Sale
$2,480,000 USD
Apartments - FOR SALE
1/23
null | 7.95% Cap Rate

24 N Electric Ave
Alhambra, CA 91801


HIGHLIGHTS

  • Profitable Airbnb short-term business in place
  • High-demand rental market
  • Heavy day time traffic
  • Positive cash flow upon COE

OVERVIEW

Universal Elite Commercial is 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, with an impressive 7% CAP rate potential. 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. There is a current lease in place with an Airbnb management company for all 5 units at $15,000.00 per month. Check Data Room for current operating financials.

FOR SALE DETAILS

PRICE

$2,480,000 USD

PRICE/SF

$646 USD /SF

# OF UNITS

5

PRICE/UNIT

$496,000

CAP RATE

7.95%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,632 SF

ZONING

CPD

APN/PARCEL ID

5338-012-007

ASK ABOUT THIS PROPERTY

Oliver LiuUniversal Elite, IncMore Info
909-979-0207

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Oliver LiuUniversal Elite, IncMore Info
909-979-0207

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.