1324 Fremont AveAlhambra, CA 91803

Property Details for 1324 Fremont Ave

Year built

2001

Property size (Sq ft)

2,854 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional multifamily investment property in Alhambra, CA, presents a rare opportunity. The property consists of two individual, 2-story houses, each spanning 1427 square feet, built in 2001. Each house boasts a modern floor plan, ideal for group living or individual rentals, featuring three bedrooms, three full bathrooms, and a three-car garage with direct entry. One bedroom and bathroom are conveniently located downstairs, while upstairs offers an open-concept living, dining, and kitchen area with cathedral ceilings. Both units are fully equipped with air conditioning and possess their own front yards. The property sits on a 6,914 square foot lot and offers a total of 2,854 square feet of net rentable space. The property enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $68,220 and a 4.14% cap rate. The asking price is $1,649,000, translating to $577.79 per square foot and $824,500 per unit. Its prime location offers easy access to shopping, including Kohl's, and is within walking distance of "The Alhambra" complex, home to several educational institutions and businesses. Street parking is readily available nearby for guests. The property's permitted zoning is ALRPD. This property is a compelling investment opportunity with significant potential for future growth and strong rental income. The property features two buildings, each two stories high, and the APN is 5355-007-007.

Location Insight

City

Alhambra

County

Los Angeles

State

California

Latitude

34.0779

Longitude

-118.152

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