116 N Alhambra Ave, Monterey Park, CA 91755

Property Description

This pride of ownership 4 unit apartment complex encompasses 2 attractive 2-story buildings. Included in this charming complex are landscaped grounds, gated carport parking and laundry room on a lot of approximately 9400 square feet. The inside square footage of the property is 3,883 square feet. Popular restaurants and stores are less than one block away. The units are well-maintained and easy to rent. A vacant unit is typically rented in 1 or 2 days. This gated community, both front and back, has long-term tenants and an on-site manager. There is lots of space to grow vegetables and fruit trees. The units are separately metered for electricity and gas and have individual water heaters and patios. Underground sewage and plumbing were upgraded in September, 2015. All units have granite counter tops. All bathrooms are fully remodeled. There are tile floors in the kitchens and bathrooms. The units have over-sized living rooms and large bedrooms. Rent for Units A, B and D are below market and can be increased. See the Pro Forma numbers. The adjacent property, 118 North Alhambra Avenue, is a mirror property. Combine 116 North Alhambra Avenue with 118 North Alhambra Avenue and a 6-unit Planned Unit Development is allowed. Verify this with the city.