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215 N Alhambra Ave 6 Unit Apartment Building $2,547,246 CAD ($424,541 CAD/Unit) 6% Cap Rate Monterey Park, CA 91755
INVESTMENT HIGHLIGHTS
- Rare Monterey Park Offering
- Middle Duplex Sustained Major Fire Damage Requiring Reconstruction
- 16,833 Square Feet of Land Zoned R3
- 3 Single Story Duplexes
- Potential Redevelopment Opportunity
- Blocks from Garvey and Garfield Avenue Shops, Restaurants, Etc.
EXECUTIVE SUMMARY
Realty Investment Advisors is pleased to present a six-unit, single-story apartment complex in a prime Monterey Park location. The property sits on a 16,833-square-foot R3-zoned lot, offering both current income and future redevelopment potential.
The asset consists of three single-story duplexes. The front duplex includes a three-bedroom, three-bath front unit and a one-bedroom, one-bath rear unit. The three-bedroom unit is currently configured and leased to three separate tenants as a 1-bedroom/1-bath ($1,200), 2-bedroom/2-bath ($1,850), and studio ($965).
The middle duplex, comprised of a 2-bedroom/1-bath unit and a 1-bedroom/1-bath unit, sustained significant fire damage and will require substantial reconstruction. Rents shown assume the units are rebuilt and leased at market rates.
The third duplex features two 2-bedroom/1-bath units and a shared on-site laundry room. The property offers 13 on-site parking spaces, including three two-car garages and six open surface spaces, providing strong parking for the submarket.
Located just blocks from the Garvey and Garfield Avenue corridors and a short distance from Downtown Monterey Park, the property benefits from convenient access to retail, dining, and neighborhood amenities. The site also presents potential redevelopment opportunities, including PUDs, townhomes, or condominiums, subject to zoning and municipal approvals. Buyer to conduct their own due diligence to verify development feasibility and allowable uses.
The asset consists of three single-story duplexes. The front duplex includes a three-bedroom, three-bath front unit and a one-bedroom, one-bath rear unit. The three-bedroom unit is currently configured and leased to three separate tenants as a 1-bedroom/1-bath ($1,200), 2-bedroom/2-bath ($1,850), and studio ($965).
The middle duplex, comprised of a 2-bedroom/1-bath unit and a 1-bedroom/1-bath unit, sustained significant fire damage and will require substantial reconstruction. Rents shown assume the units are rebuilt and leased at market rates.
The third duplex features two 2-bedroom/1-bath units and a shared on-site laundry room. The property offers 13 on-site parking spaces, including three two-car garages and six open surface spaces, providing strong parking for the submarket.
Located just blocks from the Garvey and Garfield Avenue corridors and a short distance from Downtown Monterey Park, the property benefits from convenient access to retail, dining, and neighborhood amenities. The site also presents potential redevelopment opportunities, including PUDs, townhomes, or condominiums, subject to zoning and municipal approvals. Buyer to conduct their own due diligence to verify development feasibility and allowable uses.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$225,039
|
$39.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,751
|
$1.17
|
| Effective Gross Income |
$218,288
|
$37.85
|
| Taxes |
$30,567
|
$5.30
|
| Operating Expenses |
$34,959
|
$6.06
|
| Total Expenses |
$65,526
|
$11.36
|
| Net Operating Income |
$152,762
|
$26.49
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $225,039 |
| Annual Per SF | $39.02 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,751 |
| Annual Per SF | $1.17 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $218,288 |
| Annual Per SF | $37.85 |
| Taxes (CAD) | |
|---|---|
| Annual | $30,567 |
| Annual Per SF | $5.30 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $34,959 |
| Annual Per SF | $6.06 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $65,526 |
| Annual Per SF | $11.36 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $152,762 |
| Annual Per SF | $26.49 |
PROPERTY FACTS
| Price | $2,547,246 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $424,541 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 6% | Building Size | 5,767 SF |
| Gross Rent Multiplier | 11.32 | Average Occupancy | 90% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment | Parking Ratio | 2.25/1,000 SF |
| Zoning | R3 - R-3—High-Density Residential Zone | ||
| Price | $2,547,246 CAD |
| Price Per Unit | $424,541 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 11.32 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 5,767 SF |
| Average Occupancy | 90% |
| No. Stories | 1 |
| Year Built | 1953 |
| Parking Ratio | 2.25/1,000 SF |
| Zoning | R3 - R-3—High-Density Residential Zone |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $2,502 CAD | - |
| 2+1 | 3 | $2,723 CAD | - |
| 3+3 | 1 | $5,528 CAD | - |
1 1
Walk Score®
Very Walkable (78)
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215 N Alhambra Ave
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