2306 W Alhambra Road, Alhambra, California 91801, Alhambra, 91801 - 0 bed, 0 bath
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Alhambra, California 91801
This Renovated Spanish Art Deco Quadruplex is a Strong Value Opportunity, listed at $1,850,000—positioned well below the $1,947,731 Fair Market Value by 5%. This valuation gap offers $97,731 in Instant Equity. Boasting a Condition Rating of 4, the property features a 2001 studs-out renovation, private garages, and mountain views. Located adjacent to South Pasadena, the asset provides access to 9/10 Rated Schools and significant rental upside through below-market leases. This is a premier acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-quality house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2306 W Alhambra Road Subject | $1,790,000* List Price | 0 | 0 | 3,060 | $605 | - |
A 33 Elm Street Active | $1,680,000 List Price | 5 | 6 | 2,900 | $579 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property underwent a 'studs-out' renovation in 2001, which falls within the 15-30 year timeframe for a 'fair' condition rating. While the asset is meticulously maintained and turnkey, the interior finishes—specifically the oak cabinetry, white tile countertops, and white appliances in the kitchen—are stylistically outdated. The flooring and fixtures are functional but reflect early-2000s quality standards rather than modern trends.
Elementary School: Marengo Elementary School (9/10). Middle School: South Pasadena Middle School (9/10). High School: South Pasadena Senior High School (9/10).
Situated in a highly desirable North Alhambra pocket adjacent to South Pasadena, the property benefits from proximity to top-tier schools, including South Pasadena Middle and High Schools, both rated 9/10.
Extensively renovated from the studs in 2001, this well-maintained asset features modern updates, in-unit laundry, and private garages while preserving its 1924 Spanish Art Deco architectural charm.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =10966, other record lot size in square feet = 10884.
The property consists exclusively of one-bedroom, one-bathroom units, which may restrict the tenant demographic and limit appeal to larger households or families.
With a list price of $1.85M and current rents below market value, the immediate capitalization rate may be lower than average until lease adjustments are implemented to reflect current market conditions.
Positioned in a strong rental pocket of North Alhambra, adjacent to South Pasadena, this 4-unit property offers stable in-place income with a clear path to long-term upside. With 4 spacious 1-bedroom, 1-bath Units across two separate buildings, this property blends 1924 Spanish character with a comprehensive renovation completed in 2001. Each unit includes in-unit laundry, & the property offers 3 private garages plus additional driveway parking, amenities that support strong tenant demand & rental growth. Fully occupied with responsible, stable tenants, the property generates consistent income from day one. All units are fully occupied with month-to-month tenants, providing immediate income & flexibility for a new owner to adjust rents and optimize cash flow. This is an ideal opportunity for a long-term hold investor seeking a well-maintained asset with immediate and achievable income growth. The property has been consistently maintained, minimizing near-term capital expenditures while preserving future value-add potential. Located just minutes from South Pasadena, Alhambra Park, and a convenient Downtown Los Angeles commute, the property benefits from a highly desirable San Gabriel Valley location known for its strong and consistent rental demand. Investment Highlights: ~Current Gross Income: $7,300/month ($87,600/year). ~Pro Forma Potential: $9,000+/month ($108,000+/year). ~23% rental upside. ~Units with rent increase potential. ~Month-to-month tenants (operational flexibility). ~In-unit laundry in all units. ~3 garages + additional driveway parking.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades K-5 • 1.0 mi
Grades K-6 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,060 | 2,144 | 85% |
| Lot Size | 10,966 | 7,560 | 92% |
| Price | $1.79M | $1.22M | 92% |
| Price per sq ft | $585 | $585 | 54% |
| Built year | 1924 | 1924 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 144 | 8% |
May 4, 2026
$1,790,000
$1,850,000
-3% Price Drop
Initial Listing
Apr 6, 2026
$1,850,000
Initial Listing
Jul 18, 2001
$338,000
Public Record