1515 W Commonwealth Ave
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1515 W Commonwealth Ave
8 Unit Apartment Building $2,875,000 ($359,375/Unit) 3.85% Cap Rate Alhambra, CA 91803
Investment Highlights
- Walking distance to Alhambra Costco Wholesale (0.5 miles away).
- Four (4) units can be delivered vacant.
- Parking on Bushnell Ave and Commonwealth Ave.
Executive Summary
A rare opportunity in Alhambra, CA! This 8-unit apartment property, on the market for the first time since 1959, offers a prime corner location with parking on both Bushnell Ave and Commonwealth Ave. The unit mix includes six 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, with four units to be delivered vacant, presenting immediate market rent potential. This low-maintenance property features separate gas and electric meters for each unit, a master water meter, and 7 garage parking spaces plus 1 open space. On-site washer and dryer units, owned by the landlord and included in the sale, provide additional income opportunities. Conveniently located within walking distance of Costco Wholesale (0.5 miles) and with easy access to the 710 and 10 freeways, this property is perfect for investors seeking a solid, long-term asset with very low vacancy.
FULL MARKETING PDF LINK (INCLUDING FINANCIALS AND RENT ROLL):
https://www.donaldlarealty.com/commercial/properties/1515-w-commonwealth-ave-alhambra-ca-91803/
FULL MARKETING PDF LINK (INCLUDING FINANCIALS AND RENT ROLL):
https://www.donaldlarealty.com/commercial/properties/1515-w-commonwealth-ave-alhambra-ca-91803/
Property Facts
| Price | $2,875,000 | Apartment Style | Low Rise |
| Price Per Unit | $359,375 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 6,392 SF |
| Cap Rate | 3.85% | No. Stories | 2 |
| No. Units | 8 | Year Built | 1951 |
| Property Type | Multifamily | Parking Ratio | 1.25/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,875,000 |
| Price Per Unit | $359,375 |
| Sale Type | Investment |
| Cap Rate | 3.85% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.16 AC |
| Building Size | 6,392 SF |
| No. Stories | 2 |
| Year Built | 1951 |
| Parking Ratio | 1.25/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 6 | - | - |
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Walk Score ®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 5343-006-001 | Improvements Assessment | $142,988 |
| Land Assessment | $42,991 | Total Assessment | $185,979 |
PROPERTY TAXES
Parcel Number
5343-006-001
Land Assessment
$42,991
Improvements Assessment
$142,988
Total Assessment
$185,979
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1515 W Commonwealth Ave
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