Description

Pleased to exclusively present the opportunity to acquire 2005 & 2007 South Stoneman Avenue, a 9-unit multifamily investment property in the city of Alhambra, California. The property is conveniently located just south of the Interstate 10 Freeway and east of the Garfield Avenue on/off ramp, providing residents with easy commute west to Downtown Los Angeles and east to nearby cities within San Gabriel Valley. The apartment is situated in a quiet neighborhood that is residential in nature and amongst mostly single-family residences. Constructed in 1960, the property consists of two contiguous parcels with a total of 0.26 acres (11,346 square feet) and a combined building area of 5,363 square feet. 2005 South Stoneman Avenue is a two-story fourplex featuring all one-bedroom/one-bathroom floor plans with four carport parking spaces. 2007 South Stoneman Avenue is a two-story 5-unit apartment complex consisting of four one-bedroom/one-bathroom floor plans and a two-bedroom/one-bathroom floor plan and offers six tuck-under parking spaces. Both buildings have pitched roofs, covered stairwells to the upstairs units, and a shared on-site laundry room with one washer & one dryer (laundry machines are owned). Selected units have been upgraded with new double-pane windows, and all units offer wall-unit air conditioning. All units are individually metered for gas and electricity and have separate hot water heaters. The apartments have a superb central location that offers multiple supermarkets, diverse dining options, entertainment, schools, churches, and medical facilities within a two-mile radius. The property has a high probability to attract long term residents with its very walkable score of 79 to amenities such as Mark Keppel High School that is an 8-minute walk east of the property and Garfield Medical Center that is a 7-minute walk south of the property. The apartment is surrounded by popular shopping centers including Atlantic Times Square, The Marketplace, and San Gabriel Square that features 99 Ranch Market, AMC movie theater, Planet Fitness gym, and plenty of restaurants and cafes. To provide an active environment for its residents, the YMCA, Alhambra Golf Course, and Almansor Park are just a quick 8-minute drive north of the property. The park provides walking trails, tennis, basketball, baseball, and many organized family events, while the golf course offers leagues, tournaments, outings, and social events as well.