
Alhambra, California 91801
This Four-Unit Residential Income Asset is a High-Potential Investment Opportunity, listed at $1,588,000, which aligns with its $1,588,000 Fair Market Value. Featuring an Excellent Condition Rating due to extensive 2023 renovations and a newly permitted ADU, this property minimizes immediate capital expenditure. Located in a prime North Alhambra neighborhood near Top-Rated Schools like Marengo Elementary and South Pasadena High, it offers strong rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, income-generating property in a high-appreciation submarket.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 308 S Almansor Street Subject | $1,588,000* List Price | 0 | 0 | 2,430 | $653 | - |
A 228 S El Molino Sold | $1,470,000 | 2 | 2 | 1,922 | $765 | 0.3 mi |
B 104 106 E Linda Vista Avenue Active Under Contract | $1,658,000 List Price | 0 | 0 | 2,793 | $594 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property meets the 'Excellent' criteria due to extensive renovations within the last 1-2 years. Two units were completely remodeled in 2023, a third received new flooring, and a brand-new ADU was just completed. Photos confirm modern, mint-condition kitchens with shaker cabinets and stone counters, along with updated bathrooms featuring contemporary tile work and glass enclosures.
Elementary School: Marengo Elementary School (9/10). Middle School: South Pasadena Middle School (9/10). High School: South Pasadena Senior High School (9/10).
This four-unit property includes a newly permitted ADU and recently updated units, providing a versatile opportunity for owner-occupancy or immediate market-rate rental income in a high-demand submarket.
The property features significant 2023 renovations, including two fully remodeled one-bedroom units and updated flooring in the two-bedroom unit, minimizing immediate capital expenditure for a new owner.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2430, other record living area = 2081.
Upgrades to the primary units were completed without city permits, which may present challenges during the appraisal process, future financing, or potential municipal inspections.
The property operates on a single water meter paid by the owner, and the ADU lacks the laundry hook-ups available in the other units, potentially increasing overhead and reducing tenant convenience.
Centrally located in north Alhambra this single level property is a great opportunity to own an upgrade 4 unit rental property very close to Pasadena. There are two One-bedroom units with one bathroom that was completely remodeled in 2023. There is a separate one Two-bedroom unit with one bathroom, and this unit has new flooring from 2023. The final ADU unit was completed this year with permits. All of the units have individual laundry hook-ups except for the ADU unit. 4 sperate electric meters, 3 gas meter, and one water meter that the owner pays. All upgrades on all units other than the ADU unit is done by the license contractor without permits. The ADU unit was converted with permits and it is available for an owner to occupy or rent out at the market rent. The LA is part owner of the property and related to the seller. All information provided herein—including but not limited to square footage, lot size, room dimensions, property condition, school districts, and zoning—is deemed reliable but is not guaranteed and should be independently verified. Neither the Seller nor its Listing Agent/Brokerage makes any warranties or representations, express or implied, regarding the accuracy, completeness, or condition of the property. It is the buyer and buyer's agent to do their due diligence. Please DO NOT disturb the tenants. Drive by only!
No exterior & parking available.
Grades K-6 • 1.9 mi
Grades K-5 • 1.9 mi
Grades K-6 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.4 |
| Baths | 0.0 | 2.8 |
| Square foot | 2,430 | 2,082.417 |
| Lot Size | 7,503 | 8,052.917 |
| Price | $1.59M | $1.29M |
| Price per sq ft | $653 | $586 |
| Built year | 1923 | 1936 |
| HOA | $0 | $0 |
| Days on market | 91 | 55 |
Jun 10, 2026
$1,588,000
Initial Listing
Mar 3, 2022
$650,000
Public Record