3111 W Ramona
▪ 13-Unit Apartment Building
▪ Built in 1954
▪ 11,778 SF Building
▪ 11,253 SF Lot (.26 Acres)
▪ Zoned ALRPD
▪ 11 Carports with Ample Street Parking
▪ 24 On-Site Storage Lockers
▪ All Double-Pane Windows
▪ Partial Copper Plumbing
▪ New Roof (2021)
▪ New Electrical Panels
▪ Individual Water Heaters
▪ 10%+ Rental Upside
▪ Stable Infill Location Established Residential within Neighborhood
Property Description
Ownership since 1974 presents the opportunity to acquire a well-maintained 13-unit apartment property located in the desirable Midwick Park / Alhambra Hills neighborhood of Alhambra. The property features an attractive unit mix, recent capital improvements including newer roof and electrical panels, 11 carports, on-site storage, and strong long-term tenancy. Excellent San Gabriel Valley location near Cal State LA, Downtown Alhambra amenities, and the I-10 Freeway. Approximately 10%+ rental upside with stable in-place income.
Key Property Information
| Listing Status: | Available |
|---|---|
| Property Types: | Apartment Buildings |
| Price: | $3,700,000 |
| No. of Units: | 13 |
| Cap Rate: | 4.51% |
| GRM /GIM: | 12.89 |
| Average Occupancy: | 97 |
| Year Built: | 1954 |
| Building Size: | 11,778 Sq ft |
| Lot Size: | 11,253.00 Acres |
| No. of Stories: | 2 |
| APN: | 5352-013-007 |
| Zoning Code: | ALRPD |
| Buy Side Fee: | 2.5% |
| Opportunity Zone: | No |
| Price per unit: | $284,615 |
| Parking Spaces: | 11 |
FINANCIAL DETAILS
| Income/expense info: | Actual |
|---|---|
| Financial year: | 2026 |
| Gross income: | 287040 |
| Effective Gross income: | 280382 |
| Operating expenses: | 113434 |
| Net operating income: | 166948 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Seth Polen | 213-595-5726 | [email protected] |
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