Welcome to 5501 & 5505 Alhambra Ave, a prime real estate opportunity for investors looking to own a versatile property in the heart of Los Angeles, CA. This property offers a diverse range of opportunities, from its unit mix to its potential development opportunity, making it an ideal investment for those seeking significant value added and huge upside potential. This property boasts a unit mix of (1) 1 Bed x 1 Bath, (2) 3 Bed x 1 Bath, and (1) 2 Bed x 1 bath with a retail unit. Currently, the units are generating $1,200, $830, $1,500, $1,450, and $860, respectively, for a total of $5,840 per month in rental income, providing stable income in place. And with a gross cap rate of 5.9%, this property offers a lucrative investment opportunity with significant potential for increased returns. With a remarkable 40% upside potential, investors can maximize their profits by implementing strategic improvements and optimizing rental rates. Additionally, three units can be delivered vacant, allowing for flexibility in leasing and renovation plans. Situated on two parcels of land, this property boasts a combined 7,905 sq ft of lot space per assessor records, providing ample space for potential development or expansion. The LAC2 zoning presents a diverse range of opportunities, making this an exciting investment prospect with plenty of value-added potential. Located in a prime area, this property offers excellent access to local amenities and transportation, making it an attractive option for renters. The APNS are 5220023014 and 5220023015 for each lot, with one parcel hosting the main building with one (1) retail storefront and (3) living units, while the other parcel features an additional living unit located at the back of the property. Overall, 5501 Alhambra Ave is an exceptional investment opportunity with great income in place, prime location, and numerous possibilities for development or expansion. Don't miss out on the chance to invest in this unique property - schedule a viewing today to learn more!
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