2424 W Grand Ave, Alhambra

FIRST TIME ON MARKET IN ALMOST FOUR DECADES

• Real Estate has been in Same Family since 1986

DEVELOPMENT OPPORTUNITY

• Zoning Allows for One Unit Per 1,113 SF of Lot Size (Buyer to Verify and Explore Density Bonuses)

SIX SEPARATE BUDILINGS 

• ±6,552 SF Building Size

±20,006 SF OVERSIZED LOT 

CURRENT RENTS ±63% UNDER MARKET

• True Value-Add Opportunity

ZERO SOFT-STORY

• 7 Carport Parking Spaces

NORTH ALHAMBRA LOCATION

• Walking Distance to Restaurants and Shops along Main Street
• Adjacent to South Pasadena, San Marino, San Gabriel, and Monterey Park
• Close Proximity to Major Education Centers such as Caltech, ArtCenter College, USC, Cal State LA, PCC, and East LA College
• Easy Access to 10, 60, and 710 Freeways

STRONG MARKET FUNDAMENTALS

• 2023 Average Housing Value of $860,197
• 2023 Average Household Income of $103,938

ACCESS TO MAJOR EMPLOYMENT

• Easy access to Los Angeles County’s Employment Centers such as Glendale, Burbank, and Downtown Los Angeles

Property Description

CBRE is proud to exclusively represent 2424 W Grand Avenue, in the city of Alhambra.  Located just north of Main Street, between Fremont Avenue and Atlantic Boulevard, 2424 W Grand Avenue offers an investor a significant value-add opportunity in one of the healthiest and most attractive rental submarkets within the San Gabriel Valley. 2424 W Grand Avenue is an eight plus one non-conforming unit multifamily property comprised of six separate buildings totaling ±6,552 on an oversized ±20,006 RH lot.  Mostly bungalow style, the property is separately metered for gas and electric, and offers seven carport spaces with storage bins. 2424 W Grand Avenue boasts an excellent unit mix of one non-conforming studio/one-bathroom unit, four one-bedroom/one-bathroom units, and four two-bedroom/one-bathroom units.  Units offer individual water heaters, dual entrances, washer and dryer hookups, unexposed hardwood floors, wall units for heating and cooling, and a gas stove.  The units are distinct as they are mostly bungalow style units, and considered highly desirable to residents who prefer minimal common walls, single story units, and the feel of a private, individual home. 2424 W Grand Avenue is being offered for sale for the first time in almost four decades.