Prime Lincoln Heights Location, North of 10 Freeway and minutes from California State University of Los Angeles……The Alhambra Avenue Apartments is located in the Lincoln Heights community of East Los Angeles, just east of downtown Los Angeles and just blocks from the 5, 10 and 710 Freeways.
This 3 unit property consist of (2) 1Bed/1Bath, and (1) 2Bed/1Bath units with 1,841 of rentable square feet of living space, and lot size of 5,000 square feet. This property is a low maintenance property, operating with low operating expenses, which contributes to strong cash flows and investment yields. The units are individually metered for electric and gas with the tenants responsible for payment. Parking is ample with open parking in the front and side of the property. The rents of this property are currently below market by 30 percent, making it an excellent investment for re-positioning and increased cash flow opportunity.
The Property benefits from proximity to public transportation, retail shopping, grocery shopping, and within a short distance, along with the downtown shopping district directly to the west, along with easy accessibility via the 5, 10 and 710 freeways to anywhere in Los Angeles. This strong performing 3 Unit apartment complex provides a rare and ideal investment opportunity for an investor to obtain a well located income property in an area with exceptional demand for rental housing. Lincoln Heights is known for it’s high-demand and stable multi-family housing due to its proximity to downtown Los Angeles, easy freeway access to anywhere in the Los Angeles and close proximity to Long Beach, Pasadena and Westside Communities.