745 S Chapel Ave, Alhambra, California 91801, Alhambra, 91801 - bed, bath
ACTIVE$1,650,000
745 S Chapel Ave, Alhambra, California 91801
0Bed
0Bath
3,106Sqft
10,824Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Value-Add Opportunity: The property is explicitly marketed as a 'unique value-add opportunity' with 'significant upside potential through rental increases' and a '4.5%+ Pro Forma Cap Rate', appealing to investors seeking growth.
Top Cons:
Age of Property: Built in 1928, the property is nearly a century old, which may imply potential for deferred maintenance or necessary upgrades to older systems (plumbing, electrical, HVAC) not explicitly mentioned as updated.
Compared to the nearby listings
Price:$1.65M vs avg $1.09M (+$560,000)83%
Size:3,106 sqft vs avg 2,144 sqft92%
Price/sqft:$531 vs avg $60533%
More Insights
Built in 1928 (97 years old).
Condition: Built in 1928, this quadruplex presents a 'value-add opportunity.' While the roof is new (2-3 years old) and one rear unit is described as 'fully remodeled,' the images of other units and the exterior reveal significant age and dated features. Visible elements include window AC units, exposed wiring, an old security door, chain-link fences, and popcorn ceilings. The property is functional and has seen some updates, but the majority of the units and common areas show signs of being outdated and would require substantial updates and repairs to meet modern standards, aligning with a 'Fair' condition.
Year Built
1928
Close
-
List price
$1.65M
Original List price
$1.75M
Price/Sqft
$531
HOA
-
Days on market
-
Sold On
-
MLS number
WS25083203
Home ConditionFair
Features
ViewMountain(s), Neighborhood
About this home
Epitome CRE is proud to present a unique value-add opportunity in the heart of Alhambra. This stabilized asset offers a 4.5%+ Pro Forma Cap Rate due to a significant upside potential through rental increases. The property features 1 detached unit and 3 attached units. Front House: 942 square feet 2 bed / 1.25 bath with a detached 2-car garage. Middle Units (2): Identical 1 bed / 1 bath layouts mirror image to each other. Rear Unit: Fully remodeled 2 bed / 1 bath also the largest floorplan. The rear three attached units totals 2,164 square feet. Roof is 2-3 years old.
Nearby schools
6/10
Dewey Avenue Elementary School
Public,•K-6•1.7mi
7/10
Emerson (Ralph Waldo) Elementary School
Public,•K-6•1.7mi
9/10
Marengo Elementary School
Public,•K-5•2.2mi
3/10
Cesar Chavez Elementary School
Public,•K-6•2.7mi
8/10
Monterey Hills Elementary School
Public,•K-5•2.8mi
5/10
Sierra Park Elementary School
Public,•K-6•2.8mi
6/10
City Terrace Elementary School
Public,•K-5•3.6mi
7/10
Ramona Elementary School
Public,•K-8•0.9mi
5/10
Granada Elementary School
Public,•K-8•0.9mi
5/10
William Northrup Elementary School
Public,•K-8•1.0mi
7/10
Garfield Elementary School
Public,•K-8•1.2mi
6/10
Marguerita Elementary School
Public,•K-8•1.3mi
8/10
Martha Baldwin Elementary School
Public,•K-8•1.4mi
7/10
Park Elementary School
Public,•K-8•1.4mi
7/10
Ynez Elementary School
Public,•K-8•1.8mi
6/10
Emery Park Elementary School
Public,•K-8•2.0mi
6/10
Garvey (Richard) Intermediate School
Public,•7-8•2.0mi
4/10
Fremont Elementary School
Public,•K-8•2.1mi
9/10
South Pasadena Middle School
Public,•6-8•2.2mi
6/10
Jefferson Middle School
Public,•6-8•2.7mi
8/10
Monterey Highlands Elementary School
Public,•K-8•3.0mi
5/10
El Sereno Middle School
Public,•6-8•3.4mi
7/10
Alhambra High School
Public,•9-12•0.8mi
8/10
San Gabriel High School
Public,•9-12•0.8mi
9/10
Mark Keppel High School
Public,•9-12•1.3mi
3/10
Del Mar High School
Public,•10-12•1.4mi
8/10
Gabrielino High School
Public,•9-12•1.7mi
9/10
South Pasadena Senior High School
Public,•9-12•2.4mi
4/10
Woodrow Wilson Senior High School
Public,•9-12•3.9mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•4.9mi
Condition Rating
Fair
Built in 1928, this quadruplex presents a 'value-add opportunity.' While the roof is new (2-3 years old) and one rear unit is described as 'fully remodeled,' the images of other units and the exterior reveal significant age and dated features. Visible elements include window AC units, exposed wiring, an old security door, chain-link fences, and popcorn ceilings. The property is functional and has seen some updates, but the majority of the units and common areas show signs of being outdated and would require substantial updates and repairs to meet modern standards, aligning with a 'Fair' condition.
Pros & Cons
Pros
Value-Add Opportunity: The property is explicitly marketed as a 'unique value-add opportunity' with 'significant upside potential through rental increases' and a '4.5%+ Pro Forma Cap Rate', appealing to investors seeking growth.
Multi-Unit Income Property: As a quadruplex (1 detached, 3 attached units), it offers diversified income streams and greater investment stability compared to single-family rentals.
Recent Roof Replacement: The roof is only 2-3 years old, indicating a significant capital expenditure has recently been addressed, reducing immediate maintenance concerns for a new owner.
Partially Updated Units: One of the four units (the rear 2 bed/1 bath) is 'fully remodeled', enhancing its appeal to tenants and potentially commanding higher rent.
Desirable Location: Situated in the 'heart of Alhambra', a well-regarded area, which typically supports strong rental demand and potential for property appreciation.
Cons
Age of Property: Built in 1928, the property is nearly a century old, which may imply potential for deferred maintenance or necessary upgrades to older systems (plumbing, electrical, HVAC) not explicitly mentioned as updated.
Inconsistent Unit Modernization: Only one unit is fully remodeled, suggesting the other three units may require substantial renovation to maximize rental income and tenant appeal, incurring additional capital expenditure.
Active Management Required for Upside: Realizing the 'significant upside potential' will likely require active management, potential tenant turnover for renovations, and further capital investment, which adds complexity and risk for an investor.