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For sale
  • Listing Provided by: 

    Han Chen DRE #01749321 han.chen@growthinvestmentgroup.com,

    Growth Investment Group Pasade

    $1,580,000

    428 N Garfield Ave, Alhambra, CA 91801

    8beds
    6baths
    4,226sqft
    : 
    Multi Family
    Built in 1963
    -- sqft lot
    $1,590,600 Zestimate®
    $374/sqft
    $-- HOA

    What's special

    Updated flooring
    Close to 7% Proforma CAP Rate. First time for sale for more than ±34 years. A prime 5-unit value add deal located in north Alhambra and just steps away from downtown Alhambra on Garfield Ave & Main St. It is situated on Garfield Ave 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 an easy to manage and rent apartment in the best location of Alhambra. Most tenants are on month-to-month rental agreement providing immediate upside on rent increases. The area does not have any local rent control (it is under California AB1482 rent control). The property is a two-story garden style apartment that was built in 1963. It has an unusual large building size of ±4,226 SF which translates to large average unit size of ±845 SF/unit. It is on a large ±7,490 SF lot. It has an excellent unit mix of one (1) x large 2bed+1.5bath+den, two (2) x 2bed+1bath, and two (2) x 1bed+1bath units. The 2bed+1bath+den is an unusually large ±1100-±1200SF unit (buyer to verify). Some of the unit(s) have updated flooring. The kitchen and bathroom are not upgraded. Most of the units are well maintained. The current income is estimated ±80% below market (buyer to verify), thus providing an attractive investment for a savvy multifamily investor. The property has a total of 8 parking spaces provided by 5 carport spaces, 2 tuck-under parking, and 1 garage that is being used as a storage room. There is no parking soft story retrofit requirement in Alhambra. There is a shared laundry room – machines are seller’s own. Each unit is separately metered for electricity and gas. The property is strategically located in the north Alhambra area, considered to be one of the best locations in Alhambra. This area is adjacent to the City of South Pasadena and City of San Marino. The property is within walking distance to Costco, Target, and minutes away from Downtown Alhambra on Atlantic & Main which include many restaurants, shopping and entertainment such as: Edwards Alhambra Renaissance 14 & IMAX, Burlington Coat Factory, 38 Degree Ale House & Grill, The Granada LA, and almost all amenities the City of Alhambra has to offer.
    9 days
    on Zillow
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    372
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    Zillow last checked: 7 hours ago

    Listing updated: July 31, 2025 at 08:57am

    Listing Provided by:

    Han Chen DRE #01749321 han.chen@growthinvestmentgroup.com,

    Growth Investment Group Pasade

    Source: CRMLS,MLS#: AR25171707MLS LogoOriginating MLS: California Regional MLS
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    Next available tour time:Today at 12:30pm

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 8
    • Bathrooms: 6
    Heating
    • Wall Furnace
    Cooling
    • Wall/Window Unit(s)
    Appliances
    • Included: Gas Range
    • Laundry: Common Area
    Features
    • Flooring: Carpet, Laminate, Wood
    • Has fireplace: Yes
    • Fireplace features: Family Room
    • Common walls with other units/homes: 2+ Common Walls
    Interior area
    • Total structure area: 4,226
    • Total interior livable area: 4,226 sqft
    Video & virtual tour

    Property

    Parking
    • Total spaces: 8
    • Parking features: Assigned
    • Garage spaces: 1
    • Carport spaces: 7
    • Covered spaces: 8
    Accessibility
    • Accessibility features: None
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: 1
    • Pool features: None
    • Spa features: None
    • Fencing: None
    • Has view: Yes
    • View description: None
    Lot
    • Size: 7,493 Square Feet
    • Features: Near Public Transit, Rectangular Lot, Street Level
    Details
    • Parcel number: 5337007005
    • Zoning: ALRPD*
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    • Attached to another structure: Yes
    Materials
    • Foundation: Raised
    • Roof: Asbestos Shingle
    Condition
    • New construction: No
    • Year built: 1963

    Utilities & green energy

    • Electric: Standard
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

    Community & HOA

    Community
    • Features: Valley
    Location
    • Region: Alhambra

    Financial & listing details

    • Price per square foot: $374/sqft
    • Date on market: 7/30/2025
    • Listing terms: Cash,Cash to New Loan
    • Total actual rent: 7013
    • Tenant pays: Electricity, Gas
    • Road surface type: Paved
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