25
See all 25 photos
$825,000
Est. payment /mo
1 Bed
1 Bath
New
1616 Cherry Lane Alhambra, CA 91803
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25203482
Bedrooms 1
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present the opportunity to acquire 1616 Cherry Lane, an attractive triplex property located in the highly desirable San Gabriel Valley submarket of Alhambra, California. Constructed in 1925, the property is situated on a well-maintained 5,497 square-foot lot with a total building size of 1,536 square feet. The property is conveniently situated at the cross streets of S Marengo Avenue and Front Street, and is only two blocks from Valley Boulevard, a major neighborhood thoroughfare with numerous retailers, restaurants, and popular stores. The location offers excellent connectivity, with easy access to the 10 and 710 Freeways, and is just minutes from Cal State University, Los Angeles and approximately 8 miles from Downtown Los Angeles. Neighboring cities include Monterey Park and San Gabriel. The property features an ideal unit mix of three 1-bedroom/1-bathroom units, all of which are single-story and ground-level. On-site parking is available via a 2-car garage and a single-car garage. The property has also undergone extensive recent capital improvements, including brand new kitchen cabinetry and countertops, renovated bathrooms, new flooring in select units, new exterior paint, fascia boards, rain gutters, and all windows and security screen doors have been upgraded. These improvements enhance the propertys appeal and reduce future capital expenditures for a new owner. This offering presents an exceptional investment opportunity. With a highly attractive going-in cost basis of just $275,000 per unit, the property provides a strategic entry point for invest
Location
State CA
County Los Angeles
Zoning Assessor
Direction Merge onto I-10 W, Take exit 23A to merge onto S Atlantic Blvd, Turn left onto W Norwood Pl, Turn right onto S Olive Ave, Turn l
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Tax ID 5350029003
Listed by Eric Chen CB RICHARD ELLIS
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