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] |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
1520 Leavenworth Street
San Francisco, California
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout