312 314 N Primrose Avenue, Alhambra, California 91801, Alhambra, 91801 - bed, bath

312 314 N Primrose Avenue, Alhambra, California 91801 home-pic-0
ACTIVE$1,675,000
312 314 N Primrose Avenue, Alhambra, California 91801
0Bed
0Bath
2,016Sqft
8,231Lot
Year Built
1923
Close
-
List price
$1.68M
Original List price
$1.68M
Price/Sqft
$831
HOA
-
Days on market
-
Sold On
-
MLS number
AR25009604
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.68M(83th), sqft - 2016(50th), beds - undefined(50th), baths - undefined(50th).

Highly desirable SINGLE-story bungalow style fourplex located in the best location of Alhambra (NORTH ALHAMBRA). It is situated on a quiet residential street in north Alhambra, and adjacent to both San Marino and South Pasadena; yet it provides convenience to tenants due to its strategic location just within minutes to many area amenities like shopping (Costco, Target), Alhambra Park, schools, churches, downtown Alhambra on Main Street, and easy access to FWY 10 and FWY 110 via Fremont Ave. This offering provides investor with opportunity to buy an easy to manage and rent apartment investments in the best location of Alhambra. The property has undergone many capital improvements, most recent ones are new roof for back duplex (October 2023), new drought tolerant landscaping (front lawn) and new exterior paint (back duplex + garage). The building consists of two duplexes. The front duplex consists of two x 1bedroom+1bathroom bungalow style units. Each unit comes with in-unit laundry machines (seller provided). One of the front units (#312) has been partially upgraded with luxury vinyl wood flooring, quartz kitchen countertops, new kitchen, recessed lightings, and new laundry machines (come with the property). The other front unit (#314) has been fully upgraded with new kitchen, new flooring, new stainless-steel appliances, in-unit laundry machines, new A/C, new windows, etc. The back duplex consists of one x 1bedroom+1bathroom, and one x studio. Both back units have been completely upgraded with new flooring, new kitchen (cabinets and quartz countertops), recessed lightings, and mini split A/C and heating units. These back 2 units do not have any laundry hookups and there is no laundry facility in the building (new owner can create laundry facility in one of the storage spaces). The property has a detached garage which provides 2 parking spaces and 2 storage spaces. There are 4 additional striped parking spaces in front of the garage. The 1 detached garage spaces are being used as storage spaces by tenant – the other 1 garage space are rented on month to month basis by one of the new tenant. The building is separately metered for electricity and gas.

Condition Rating
Good

The property, built in 1923, has undergone extensive recent renovations across most units, including new kitchens with quartz countertops, modern appliances, new flooring (luxury vinyl plank), recessed lighting, and updated bathrooms with subway tile. One unit (#314) is described as 'fully upgraded' with new A/C and windows, and the back duplex units also feature mini-split A/C and heating. A new roof was installed in October 2023. While the property is old, the significant and recent upgrades (within the last 5 years for many components) bring the interior condition to a very high standard, making it move-in ready. The 'partially upgraded' status of unit #312 and the lack of laundry for the back units prevent an 'excellent' rating, as some components are not uniformly new or fully modernized across all units, and there are minor functional deficiencies.
Pros & Cons

Pros

Prime North Alhambra Location: Highly desirable location on a quiet residential street in North Alhambra, adjacent to San Marino and South Pasadena, offering excellent access to amenities (shopping, parks, downtown) and major freeways (FWY 10, FWY 110).
Extensive Capital Improvements: Significant recent upgrades including a new roof for the back duplex (October 2023), new drought-tolerant landscaping, new exterior paint, and substantial interior renovations across multiple units, reducing immediate capital expenditure for a new owner.
High Percentage of Upgraded Units: Most units have been recently upgraded with new kitchens, flooring, recessed lighting, and some with new appliances, A/C, and windows, enhancing tenant appeal and rental income potential.
Separately Metered Utilities: The building is separately metered for electricity and gas, which is a significant advantage for landlords as tenants are responsible for their own utility consumption, simplifying management and reducing operating costs.
Ample Parking: The property offers a detached garage with 2 spaces (plus 2 storage spaces) and 4 additional striped parking spaces, providing a total of 6 parking spots, which is a valuable amenity for a multi-unit property.

Cons

Lack of Laundry for Back Units: The back duplex units (1-bedroom and studio) currently lack in-unit laundry hookups and there is no common laundry facility in the building, which may deter some tenants and requires future investment to address.
Mixed Parking Utilization: While ample parking exists, the garage spaces are not fully dedicated to parking for all tenants (one used for storage, one rented month-to-month), potentially leading to parking management issues or underutilization of a valuable asset.
Partial Upgrades in One Unit: One of the front units (#312) is described as only 'partially upgraded,' suggesting some areas may still require renovation to match the fully upgraded status of other units, potentially impacting its rent potential or requiring future investment.

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