Request Offering Memorandum

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3rd aerial

1712 S 3rd Street

Alhambra, CA. 91803

3RD STREET GARDEN APARTMENTS 

Pride of Ownership Building

Call us! 626.204.3300

ABOUT THE ASSET

PROPERTY DESCRIPTION

1712 South 3rd Street is located in the heart of Alhambra. This 13-unit property is a two-story, garden-style, walk-up building with a gazebo on the second-floor deck. 8 of the 13 units have had significant upgrades in the past 5 years. Each unit varies in
upgrades which include: laminate wood flooring, tile kitchen and
bathroom floors, granite counter, stainless steel sinks, ranges,
refrigerators, dishwashers. Blinds, carpet, light fixtures, and
hardware. All kitchens have freestanding gas ranges, dishwashers, garbage disposals and some have refrigerators.


With a wood-frame and stucco building over the parking, this 1971 construction has a flat roof of Tropical 911 white tile 24 acrylic. The foundation is concrete slab. There are 26 gated parking spaces: 6 garage spaces & 20 spaces in main first floor garage. Each unit is individually metered for gas and electric which the tenant pays. The Owner pays water, hot water, trash and landscaping. Tenants share a common area laundry room with 2 washers and 2 dryers leased from CSC Service works. The machines take either credit cards or coins. 

 

The subject property is just 2 blocks from Valley Boulevard which offers many restaurants, shops movie theaters and entertainment. It is situated between two 99 Market specialty supermarkets, on Garvey Avenue in Monterey Park and one in Alhambra on East Main Street. It is also in close proximity to the 10 & 710 freeways, just north of Monterey Park, east of Downtown Los Angeles and South of Pasadena.

SUMMARY
PRICE
PRICE/UNIT
PRICE/SF
GRM
CAP
UNITS
YEAR BUILT
GROSS SF
LOT SF
APN
$4,650,000
$357,692
$325.72
15.59
3.85%
13
1971
14,276
17,029
5357-011-001

Pride of Ownership building that has been owned by the same family for over 40 non-consecutive years

© 2016 Bridge Investment Group of KW Commercial

251 S. Lake Avenue, Suite 320

Pasadena, CA 91101

DRE #01444805