315 N Monterey St, Alhambra, CA 91801

Property Description

Rare Investor/Developer Opportunity in fantastic location in North Alhambra! Unique listing for 3 adjacent parcels in a great neighborhood with huge potential. The address for the three individual lots (to be sold and packaged together) are: 305, 309, 315 N Monterey St., Alhambra CA 91801 The total lot size is 22,500 sqft (Total Dimensions are 150' x 150'). According to City planning, the City states all 3 lots are zoned R3 and up to 15 units can be built with subterranean parking. (Buyer to Verify) There are currently 5 units total on the property. 315 is a SFR and 305 and 309 are both duplexes. 305, 305 1/2, 309, and 311 are currently collecting $5624/month in rent (month to month contracts). 315 was completely remodeled in 2003 and is 2,643 sqft and should rent for around $3600. The buyer can collect around $9200 every month until the land is entitled and permits are obtained. All Rental agreements can be supplied upon request. The lots are walking distance to Downtown Alhambra with all the wonderful shops and restaurants along Main St, including Edwards Renaissance Movie Theater, Starbucks, Coldstones, Boiling Crab, etc. It is also walking distance to Story Park. Highly desirable location and huge demand for additional housing in this area. Submit your offers today. This one will not last.