816 S Olive Avenue, Alhambra, CA 91803

$1,100,000
Sold Price
$1,100,000
List Price
$1,148,000
Closing Date
Aug 15, 2023
Status
CLOSED
MLS#
P1-10841
Year Built
1958
Lot Size
4,429
Acres
0.10
Lot Location
Sprinklers None
Days on Market
335
Property Type
Multifamily
Style
Traditional
Property Sub Type
Triplex
Stories
Two Levels
Neighborhood
Not Applicable

Property Description

Excellent opportunity as an investment OR as an owner with income from the other units or as a multi-generational, family complex! First time on the market since 1971, this triplex is located on a street of mostly single-family homes. Each unit offers 2 bedrooms, 1 bathroom with 850 square feet and each has 1 parking space in the garage. There is a separate laundry room where the tenants own their own washing machines. The property is conveniently located near Cal State LA, neighborhood restaurants, Starbucks, entertainment, shopping including Home Depot, Target and Costco and is also near public transportation and Alhambra City Park. It's just minutes away from the 10 Freeway for convenient access to the 710 and 5 Freeways offering an easy commute to downtown LA and to Pasadena. All tenants are long term, and each is month-to-month. There are three electric and gas meters and one water meter. Downstairs unit is currently vacant and was just painted, floors refinished & a new front window. The market rent is likely $2,300 for the lower unit. The rent for the two upper units will be increased to $1,633 beginning Sept 1, 2023. Kindly do not disturb the tenants. Don't miss this great opportunity!

Additional Information

Pool Description
None
Heat
Wall Furnace
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
View
None
Garage Spaces Total
3
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
3
Gross Scheduled Income
$66,792
Operating Expense
6874

Listing courtesy of Listing Agent: Reni Rose (renirose@aol.com) from Listing Office: Berkshire Hathaway HomeServices California Properties.

Listing sold by HO PHAM from Phamily Management & Realty

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.