601 N Stoneman Avenue
Alhambra, CA, 91801
$5,150,000
Beds
0 Baths
SqFt
0.33 Acres
Add
Offered for sale for the First Time ever, and with 5.26% CAP Rate, we are proud to present 601 N. Stoneman Ave., Alhambra. A pride-of-ownership very-well-maintained 14-unit value add deal located in north Alhambra and just steps away from downtown Alhambra on Garfield Ave &#38' Main St. First time for Sale ever, the property is situated on a corner lot 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 property offers investors an opportunity to buy a pride-of-ownership apartment that is very easy to manage and rent in the best location of Alhambra. It is located near several new townhouses’ subdivisions providing a home-ownership atmosphere for the property. All tenants are on month-to-month rental agreement providing immediate upside on rent increases. The area does not have any local rent control (under California AB1482 rent control). The property is offered at a very attractive actual CAP Rate of 5.26% which is much higher than your typical north Alhambra apartments (competing properties are offering 3.5%-4.5% CAP Rates – buyer to verify).

The property is a two-story garden style apartment that was built in 1965. It has a large building size of ±13,436 SF which translates to large average unit size of ±960 SF/unit. It is on a large ±14,548 SF CORNER lot providing excellent visibility from Stoneman Ave and Alhambra Rd. It has an excellent unit mix of one (1) x large 2bed+2bath, two (2) x 2bed+2bath, seven (7) x 2bed+1bath, three (3) x 1bed+1bath, and one (1) x Studio units.

Current ownership has kept the property in a top-notch condition and has completed many capital improvements including NEW ROOF, New exterior paint, New electrical subpanels (buyer to verify), SB721 (balcony) inspection completed, termite section-1 clearance completed and updated several units (buyer to verify).

The property has a total of 19 covered parking spaces including 1 garage that will be delivered vacant. There is no parking soft story retrofit requirement in Alhambra. Each unit is separately metered for electricity (all electric units). There is a shared laundry room (laundry leased) and master water heater (gas). The property has 1 gas meter for the laundry and water heater.

Property Details

Price:
$5,150,000
MLS #:
AR25169737
Status:
Active
Baths:
0
Address:
601 N Stoneman Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
601alhambra
City:
Alhambra
Listed Date:
Jul 28, 2025
State:
CA
ZIP:
91801
Lot Size:
14,553 sqft / 0.33 acres (approx)
Year Built:
1965
Ask a Question

See this Listing

Send
  

Mortgage Calculator

 

Schools

Interior

Appliances
Dishwasher, Electric Range, Disposal, Range Hood
Cooling
Wall/ Window Unit(s)
Fireplace Features
Family Room
Flooring
Laminate, Vinyl, Wood
Heating
Wall Furnace

Exterior

Community Features
Suburban, Valley
Electric
Standard
Foundation Details
Slab
Garage Spaces
19.00
Lot Features
Corner Lot, Landscaped, Lawn, Level with Street, Lot 10000-19999 Sqft, Rectangular Lot, Level, Near Public Transit, Sprinkler System
Parking Features
Assigned, Covered
Parking Spots
19.00
Pool Features
None
Roof
Flat
Security Features
Automatic Gate, Carbon Monoxide Detector(s), Gated Community, Security Lights, Smoke Detector(s)
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
None
Water Source
Public

Financial

Association Fee
0.00
Tenant Pays
Electricity
Utilities
Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

Map

Community

Similar Listings Nearby

601 N Stoneman Avenue
Alhambra, CA