816 Olive Avenue, Alhambra, CA 91803

$1,100,000
Sold Price
$1,100,000
List Price
$1,250,000
Closing Date
Aug 15, 2023
MLS#
P1-10841
Status
SOLD
Type
Multifamily

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!

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Courtesy of Berkshire Hathaway HomeServices California Properties, Reni Rose. Selling Office: Phamily Management & Realty.