Address
1417 S Atlantic Boulevard Alhambra, CA
Price
$ 11,400,000
Property Attributes
  • MLS#AR21083340
  • TypeIncome
  • CountyLOS ANGELES
  • CityAlhambra
  • AreaAlhambra
  • Zip91803
  • StyleApartment
  • Price$ 11,400,000
  • Bedrooms36
  • Full Bathrooms36
  • Half Bathrooms0
  • Lot Size0.53 Acres
Listing Provided Courtesy Of:
Handoko Chen with GIG Real Estate Inc..
Data Source:
CRMLS
Property Description

1417 S Atlantic Blvd is a well maintained 36-unit multifamily investment located in the desirable City of Alhambra, California. This value-add apartment has been in the same ownership since 1990s, providing significant rental upside. The property is situated on the prominent Atlantic Blvd crossing the famed Valley Blvd where a myriad of retail stores, shopping centers and redevelopment projects are located. It is conveniently located minutes away from FWY10 and Atlantic Times Square- a mega retail & residential project (200,000 square feet of retail stores and 210 luxury condominiums). It is under CA AB1482 rent control ordinance which allows highest annual rent increase (5% + CPI). The property is a three-story building that was built in 1964 and situated on a 22,883 square feet lot. It offers a strong unit mix of a 3 bedroom+2 bathroom unit, nine 2 bedroom+2 bathroom units, and twenty six LARGE 1bedroom + 1bathroom units. It has an attractive curb appeal and high visibility due to its strategic location. The property has ±31 private balconies and 1 large private patio, swimming pool, interior courtyard, and a shared laundry facility (seller owns the machines). It has an elevator and secured entrance. Each unit is bright and spacious. Some units have been beautifully updated with hardwood floors, refurbished cabinetries, and other renovations. Most of the units have a private balcony/patio. One of the 2bed unit has a 2-story townhouse style layout. The property has total of 54 parking spaces and an additional 2 car garage that is currently used as a storage facility. It has a secured gated parking and controlled access. The property is situated on the southwest side of Atlantic Blvd and Valley Blvd intersection and minutes away from FWY 10, Atlantic Times Square, and other national and local retailers along Valley Blvd. Atlantic Time Square is the focal point of the city and offers an array of restaurants, retail stores, as well as AMC theatre and 24 Hour Fitness. This location offers unparalleled convenience to tenants with its abundant access to public transportation and quick access to downtown Los Angeles via FWY 10.

Price History
4/22/2021 Listed $11,400,000

General Features

Community Features Suburban, Valley, Pool
Cooling Wall/Window Unit(s)
Electric Standard
Garage Spaces 54
Garage Y/N Yes
Heating Wall Furnace
Levels Three Or More
Listing Agent Handoko Chen - BRE#01749321
Listing Agent State License 01749321
MLS Area 601 - Alhambra
Parking Features Assigned
Pool Features Community
Property Attached Y/N Yes
Property Sub Type Additional Apartment
Property SubType Apartment
Property Type Residential Income
Sewer Public Sewer
Terms Cash, Cash to New Loan, Conventional
Total Actual Rent 59614
Total Units 36
Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Virtual Tour http://growthinvestmentgroup.com/listingdetail.aspx?pid=10298
Zoning ALR4*

Interior Features

Air Conditioning Y/N Yes
Common Walls 2+ Common Walls
Fireplace Features None
Heating Y/N Yes
Laundry Features Common Area

Exterior Features

Lot Features Level, Near Public Transit, Rectangular Lot, Value In Land
Lot Size Acres 0.53
Lot Size Area 22883
Lot Size Source Assessor
Lot Size Square Feet 22883
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 37
Number of Separate Gas Meters 37
Number of Separate Water Meters 1
Total Parking 54
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 91803

Price
AVG $3.36M
$11.4M
Visits
AVG 26
38
Year Built
AVG 1941
1964
Walkscore
AVG 76
77
Data Provided by Walkscore ® not using MLS data

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.

Areas We Cover