1605 S Atlantic Boulevard, Alhambra, CA 91803

• Listed Price : $3,400,000
• Beds : N/A
  
• Baths : N/A
  
• Property Size : N/A sqft
  
• Year Built : 1947
  

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Property Description

Rare 8-Unit Investment Opportunity in Prime Alhambra with Development Potential This exceptional multifamily property consists of two side-by-side parcels totaling 22,978 square feet in the highly desirable Residential High Density (RH) zone of Alhambra. Featuring eight fully occupied units with a combined 6,415 square feet of living space, this asset offers a diverse mix of rental options, including a studio, two 1-bed/1-bath duplexes, an upstairs two-bedroom unit, and two detached single-family homes—one of which is a three-bedroom with a basement and private fenced yard. Most units are equipped with in-unit laundry, with the exception of the studio and the upstairs unit, which share a laundry room downstairs. The property includes ample on-site parking, featuring five standalone single-car garages, a two-car garage with an attached studio and upper unit, a carport, and additional off-alley and street parking. The buildings have been well-maintained, and all units are currently rented with no outstanding balances, reflecting strong tenant retention and minimal vacancies. Ideally situated near Pasadena, San Marino, and San Gabriel, this property offers easy access to major freeways, public transportation, top-rated restaurants, entertainment, Dodger Stadium, Hollywood, golf courses, Downtown Los Angeles, Santa Anita, The Rose Bowl, USC, UCLA, Cal State LA, and an array of retail shops and parks. With its prime RH zoning designation, this property allows for a density of 43 units per acre, a maximum building height of 45 feet, and up to five stories, presenting significant redevelopment potential (buyer to verify). There may also be opportunities to add ADUs or Junior ADUs for additional rental income. This is a rare chance to acquire a high-performing investment property with substantial upside in a prime infill location. Private property – Do not enter without written permission.

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Interior Features

Listing Information

Listing information courtesy of: Andrew Homs, H & M Realty Group. *Based on information from the Association of REALTORS/Multiple Listing as of Feb 8th, 2025 at 3:58 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.