Five Unit Mixed Use Apartment Building 5% CAP | 5501 Alhambra Ave
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Five Unit Mixed Use Apartment Building 5% CAP 5501 Alhambra Ave
5 Unit Block of Flats £874,821 (£174,964/Unit) 4.77% Net Initial Yield Los Angeles, CA 90032
INVESTMENT HIGHLIGHTS
- Substantial value-add opportunity with approximately 70% rental upside.
- Ample parking: gated, secured, and walled parking.
- Strong rental demand, easy-to-rent area. A dense renter submarket, 100% occupied today.
- First time on the market in decades.
- Centrally located, two minutes to Keck Medical Center of USC and Cal State Los Angeles, 3 miles from Downtown LA.
- Approximately 70% rental upside, at projected market rents, the property will stabilize at a 10% CAP.
EXECUTIVE SUMMARY
Exclusive new listing: Prime 5-unit mixed-use property in El Sereno Los Angeles. Two of the units are vacant, with one under renovation and listed for rent. There is a 6th bonus unit on site.
The main power panel was fully upgraded with permit, all units individually metered. Ample on site, gated and paved parking, for 10. With double egress. Desirable C2 zoning allows a large variety of uses. Two streets of frontage, and a corner property, highly visible, and an easy to rent area.
Rare investment opportunity, the first time on the market in decades. This five unit, mixed-use multifamily property sits on two adjacent parcels in a high-demand commercial area of El Sereno, Los Angeles. Located seconds from Cal State, Alhambra, South Pasadena, and Highland Park, with direct access to Downtown Los Angeles, the property offers excellent visibility on Alhambra Avenue, a key corridor connecting Mission Road to major universities.
Strong rental upside with approximately 70% rental growth potential. At projected market rents, the property will stabilize at a 10% CAP rate. All tenants are month-to-month. The property includes four large residential units and one ground-floor retail space. A sixth bonus unit, formerly a studio apartment, can be leased for additional residential, commercial, or storage use. Once leased at $3 per square foot, the property’s CAP rate will increase to 6% next quarter.
A large, secured parking lot accommodates up to 10 vehicles, with potential for additional income through leased parking spaces. The property is zoned for mixed use, offering strong value-add potential through rent improvements and future development. ADU additions could significantly increase the unit count.
Strategically located in a thriving commercial and residential hub. Nearby employment centers include the Alhambra Office Complex, Grifols Corporate Campus, USC Keck Medical Center, Kaiser Permanente, and Cal State LA. The area is surrounded by established retailers such as Target, Costco, Starbucks, and Home Depot, along with emerging businesses and dining hotspots.
The property offers excellent connectivity, with easy access to the 710, 10, 110, and 5 freeways and major transit routes. It has a high Walk Score of 90/100, ensuring convenience for tenants.
This rare investment opportunity provides immediate income with strong long-term appreciation potential. Contact us today for details.
The main power panel was fully upgraded with permit, all units individually metered. Ample on site, gated and paved parking, for 10. With double egress. Desirable C2 zoning allows a large variety of uses. Two streets of frontage, and a corner property, highly visible, and an easy to rent area.
Rare investment opportunity, the first time on the market in decades. This five unit, mixed-use multifamily property sits on two adjacent parcels in a high-demand commercial area of El Sereno, Los Angeles. Located seconds from Cal State, Alhambra, South Pasadena, and Highland Park, with direct access to Downtown Los Angeles, the property offers excellent visibility on Alhambra Avenue, a key corridor connecting Mission Road to major universities.
Strong rental upside with approximately 70% rental growth potential. At projected market rents, the property will stabilize at a 10% CAP rate. All tenants are month-to-month. The property includes four large residential units and one ground-floor retail space. A sixth bonus unit, formerly a studio apartment, can be leased for additional residential, commercial, or storage use. Once leased at $3 per square foot, the property’s CAP rate will increase to 6% next quarter.
A large, secured parking lot accommodates up to 10 vehicles, with potential for additional income through leased parking spaces. The property is zoned for mixed use, offering strong value-add potential through rent improvements and future development. ADU additions could significantly increase the unit count.
Strategically located in a thriving commercial and residential hub. Nearby employment centers include the Alhambra Office Complex, Grifols Corporate Campus, USC Keck Medical Center, Kaiser Permanente, and Cal State LA. The area is surrounded by established retailers such as Target, Costco, Starbucks, and Home Depot, along with emerging businesses and dining hotspots.
The property offers excellent connectivity, with easy access to the 710, 10, 110, and 5 freeways and major transit routes. It has a high Walk Score of 90/100, ensuring convenience for tenants.
This rare investment opportunity provides immediate income with strong long-term appreciation potential. Contact us today for details.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£57,261
|
£17.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£57,261
|
£17.67
|
| Taxes |
£5,152
|
£1.59
|
| Operating Expenses |
£7,953
|
£2.45
|
| Total Expenses |
£13,105
|
£4.04
|
| Net Operating Income |
£44,156
|
£13.63
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £57,261 |
| Annual Per SF | £17.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £57,261 |
| Annual Per SF | £17.67 |
| Taxes | |
|---|---|
| Annual | £5,152 |
| Annual Per SF | £1.59 |
| Operating Expenses | |
|---|---|
| Annual | £7,953 |
| Annual Per SF | £2.45 |
| Total Expenses | |
|---|---|
| Annual | £13,105 |
| Annual Per SF | £4.04 |
| Net Operating Income | |
|---|---|
| Annual | £44,156 |
| Annual Per SF | £13.63 |
PROPERTY FACTS
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Satellite TV
- Den
- Garden
- Pantry
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Gated
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 2 | £850.96 | 550 - 650 |
| 3+1 | 2 | £1,074 | 650 - 750 |
| 3+1 | 1 | £1,750 | 750 |
Walk Score®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 5220-023-014 | Total Assessment | £243,870 (2024) |
| Land Assessment | £83,134 (2024) | Annual Taxes | £5,152 (£1.59/sf) |
| Improvements Assessment | £160,736 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5220-023-014
Land Assessment
£83,134 (2024)
Improvements Assessment
£160,736 (2024)
Total Assessment
£243,870 (2024)
Annual Taxes
£5,152 (£1.59/sf)
Tax Year
2023
ZONING
| Zoning Code | C2 (C2-zoning) |
| C2 (C2-zoning) |
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Presented by
John Hanrahan
Five Unit Mixed Use Apartment Building 5% CAP | 5501 Alhambra Ave
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