308 S Almansor Street, Alhambra, California 91801, Alhambra, 91801 - 4 bed, 4 bath
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Alhambra, California 91801
This Prime Investment Opportunity is a four-unit residential income property listed at $1,588,000, positioned well below the $1,636,808 Fair Market Value by 2%. This valuation gap offers $48,808 in Instant Equity. Featuring a newly permitted ADU and three recently remodeled units, the property provides immediate rental income potential. Despite a Condition Rating of 2 due to unpermitted interior work, the separate utility metering enhances net operating income. This is an ideal acquisition for Buy-and-Hold Investors or experienced landlords seeking a high-yield asset.
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 | 4 | 4 | 2,430 | $674 | - |
A 228 S El Molino Sold | $1,470,000 | 2 | 2 | 1,922 | $765 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1923, the property underwent extensive renovations within the last 1-2 years, including two units completely remodeled in 2023 and a brand-new ADU completed this year. The systems are updated with four separate electric meters, and the interior condition reflects a renovation age of less than 5 years.
This four-unit residential income property, featuring a newly completed ADU and three additional units, offers a high-yield opportunity in the desirable North Alhambra rental market.
The property boasts significant 2023 upgrades, including two fully remodeled one-bedroom units and a brand-new permitted ADU, minimizing immediate turnover costs for an investor.
Equipped with four separate electric meters and three gas meters, the property allows for easy pass-through of utility costs to tenants, enhancing the net operating income.
Most interior upgrades were performed without city permits, which may present future liability, compliance issues, or challenges during the appraisal and financing process.
The 'drive-by only' restriction and the seller's explicit refusal to warrant the property's condition or specifics create a high-risk environment requiring extensive buyer due diligence.
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 detached 2 car garage was converted to an ADU with permits. The seller and the agent do not give warrant on the the condition or the specifics of the property. The LA is part owner 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 | 4.0 | 5.0 |
| Baths | 4.0 | 3.0 |
| Square foot | 2,430 | 2,514.5 |
| Lot Size | 7,503 | 8,353 |
| Price | $1.59M | $1.33M |
| Price per sq ft | $653 | $549 |
| Built year | 1923 | 1929 |
| HOA | $0 | $0 |
| Days on market | 0 | 45 |
Jun 10, 2026
$1,588,000
Initial Listing
Mar 3, 2022
$650,000
Public Record