
Alhambra, California 91801
This property presents a High-Potential Investment Opportunity with a List Price of $1,380,000—positioned well above the $1,145,250 Fair Market Value by -20%. As a Land-Value Asset with R-3 Zoning, this 9,588-square-foot lot is primed for multifamily redevelopment in the prestigious Bean Tract. Featuring a Condition Rating of 6, the existing structure is secondary to the significant density potential. This is a strategic acquisition for Multifamily Developers and Real Estate Investors focused on long-term yield and high-density residential growth in North Alhambra.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1123 N Stoneman Avenue Subject | $1,380,000* List Price | 3 | 2 | 1,389 | $825 | - |
A 908 N Cordova Pending | $1,285,000 List Price | 2 | 2 | 1,352 | $950 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1939 (85 years old) with no recorded renovations, this property is explicitly marketed as a 'land-value offering' and 'developer’s opportunity.' The 'AS IS' condition and drive-by only restriction further indicate the structure holds no value relative to the R-3 zoned land.
Situated in the prestigious Bean Tract of North Alhambra near the San Marino and South Pasadena borders, this property offers high desirability in a top-tier residential neighborhood.
The R-3 zoning on a deep 9,588-square-foot lot provides a rare and lucrative opportunity for multifamily redevelopment, maximizing the land's investment potential.
The inclusion of conceptual site plans offers a significant advantage for builders and developers, providing a clear vision for the property's transition to a modern residential community.
The property is tenant-occupied and limited to drive-by viewings only, preventing immediate interior inspections and complicating the initial due diligence process.
Sold in 'As-Is' condition for land value, the property requires the buyer to assume all responsibility for city approvals, zoning verification, and development feasibility.
Developer’s Opportunity! Location, Location, Location! Rare Land-Value Offering in Prestigious North Alhambra! An exceptional redevelopment opportunity awaits in the highly desirable Bean Tract of North Alhambra, ideally positioned near the borders of San Marino and South Pasadena. Set on a deep lot within one of Alhambra’s most sought-after residential neighborhoods, this R-3-zoned property presents outstanding potential for a thoughtfully designed multifamily development. The seller has prepared a conceptual site plan. It subject to all applicable requirements and City approval. Conceptual plans and additional development information are available in the listing supplements for review. The property is currently improved with a three-bedroom, two-bathroom residence and is offered for land value in its present “AS IS” condition. The property is tenant-occupied. Drive-by only—please do not enter the property or disturb the occupants. The premier location offers convenient access to upscale shopping, dining, schools, parks, and major transportation routes, with excellent connectivity to San Marino, South Pasadena, Pasadena, and Downtown Los Angeles. This distinguished offering represents a rare opportunity for developers, builders, and investors to create a desirable residential community in a prime North Alhambra setting. Buyer and buyer’s representatives are advised to independently verify zoning, allowable density, development standards, conceptual plans, square footage, parking requirements, California Density Bonus eligibility, City requirements, and all other development possibilities with the City of Alhambra and appropriate professionals. No representation or guarantee is made regarding the feasibility, entitlement, or approval of any proposed development.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades K-5 • 1.8 mi
Grades K-6 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,389 | 1,416.136 |
| Lot Size | 9,588 | 6,918.25 |
| Price | $1.38M | $1.00M |
| Price per sq ft | $994 | $701 |
| Built year | 1939 | 1934 |
| HOA | $0 | $225 |
| Days on market | 5 | 51 |
Sep 4, 2026
$1,380,000
Initial Listing
May 1, 2012
$572,000
Public Record
Aug 6, 1999
$30,681
Public Record