Listing Broker: Growth Investment Group Pasade
Listing Agent: Handoko Chen
License #: 01749321
han.chen@growthinvestmentgroup.com
Owner for 32 years! Prime 14-unit north Alhambra Value-add Opportunity - NO Local Rent Control | Walk to Downtown Alhambra | South Pasadena + San Marino Adjacent | Superb Demographics | Outstanding Unit Mix.
411 N Chapel Ave., a prime 14-unit value-add apartment community in highly sought-after North Alhambra (NO Local Rent Control). Offered for the first time in 32 years, this property sits just steps from the vibrant dining and entertainment of Downtown Alhambra and across from the popular Story Park. Bordering the premium communities of San Marino and South Pasadena, the location offers tenants unparalleled access to major retail centers, excellent schools, and key transit corridors (I-10 and I-110).
This garden-style community provides investors with a straightforward value-add opportunity that is easy to manage and ready to be taken to the next level. Surrounded by newer townhouse subdivisions that provide a strong home-ownership atmosphere, the property features a stable base of long-term tenants. With no local rent control restrictions, the asset offers a clear path to stabilization at a very attractive 7.12% Proforma CAP Rate (SELF MANAGE).
The property is a two-story garden style apartment that was built in 1963. It has a large building size of ±13,744 SF which translates to large average unit size of ±980 SF/unit. It is on a large ±16,018 SF lot crossing Alhambra Rd. It has an excellent unit mix of one (1) x large 3bed+1.5bath, three (3) x 2bed+1.5bath, six (6) x 2bed+1bath, ...
+ Read More| Listing Id: | AR26218487 |
|---|---|
| List Price: | $4,250,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Apartment |
| Status: | Active Under Contract |
| Association Fee: | $0 |
| Tax Annual Amount: | $51,599 |
| Lot Size Square Feet: | 16,022.0 |
| Lot Size Acres: | 0.3678 |
| Architectural Style: | Traditional |
| Waterfront?: | No |
| City: | Alhambra |
| County Or Parish: | Los Angeles |
| Postal Code: | 91801 |
| Year Built: | 1963 |
| Number Of Units Total: | 14 |
| Appliances: | ElectricRange |
| Basement Yn: | No |
| Building Area Total: | 13744.0 |
| Building Area Units: | SquareFeet |
| Carport Spaces: | 18.0 |
| Carport?: | Yes |
| Common Interest: | CommunityApartment |
| Common Walls: | TwoCommonWallsOrMore |
| Community Features: | Suburban, Valley, Park |
| Construction Materials: | Stucco |
| Cooling: | WallWindowUnits |
| Cooling?: | Yes |
| Current Financing: | None |
| Direction Faces: | Northeast |
| Directions: | from Huntington Dr go south on Garfield Ave, then left on Alhambra Road and right on Chapel Ave |
| Electric: | Standard |
| Electric Expense: | $1,504 |
| Elevation Units: | Feet |
| Entry Level: | 1 |
| Entry Location: | 1 |
| Fencing: | None |
| Fireplace Features: | None |
| Flooring: | Carpet, Vinyl, Wood |
| Fuel Expense: | 8803.0 |
| Garage Spaces: | 0.0 |
| Gardener Expense: | $2,040 |
| Gross Income: | $346,300 |
| Heating: | WallFurnace |
| Heating?: | Yes |
| Insurance Expense: | $14,450 |
| Laundry Features: | CommonArea |
| Levels: | Two |
| Licenses Expense: | $2,704 |
| Listing Agreement: | ExclusiveRightToSell |
| Listing Contract Date: | 2026-10-07 |
| Listing Terms: | Cash, CashToNewLoan |
| Lot Features: | Lawn, Landscaped, Level, NearPark, NearPublicTransit, RectangularLot, StreetLevel |
| Lot Size Acres: | 0.3678 |
| Lot Size Area: | 16022.0 |
| Lot Size Source: | Assessor |
| Lot Size Units: | SquareFeet |
| Maintenance Expense: | $24,324 |
| MLS Area Major: | 601 - Alhambra |
| New Taxes Expense: | $50,272 |
| Number Of Buildings: | 1 |
| Number Of Separate Electric Meters: | 15 |
| Number Of Separate Gas Meters: | 1 |
| Number Of Separate Water Meters: | 1 |
| Number Of Units Leased: | 14 |
| Open Parking Spaces: | 3.0 |
| Original List Price: | $4,250,000 |
| Parcel Number: | 5337003027 |
| Parking Features: | Assigned |
| Parking Total: | 21 |
| Pest Control Expense: | $1,068 |
| Pool Features: | None |
| Possession: | CloseOfEscrow |
| Postal City: | ALHAMBRA |
| Property Attached?: | Yes |
| Property Condition: | RepairsCosmetic |
| Roof: | Shingle |
| Sewer: | PublicSewer |
| Spa Features: | None |
| Special Listing Conditions: | Standard |
| State Or Province: | CA |
| Stories: | 2 |
| Stories Total: | 2 |
| Tenant Pays: | Electricity |
| Total Actual Rent: | $28,825 |
| Trash Expense: | $6,065 |
| Utilities: | CableConnected, ElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected, WaterConnected |
| Vacancy Allowance: | 0 |
| View: | None |
| Water Sewer Expense: | $13,156 |
| Water Source: | Public |
| Year Built Source: | Assessor |
| Property Sub Type Additional: | Apartment |
| Current Price: | $4,250,000.00 |
| Country Subdivision: | 06037 |
| Record Signature: | 67,712,712 |
| Universal Parcel Id: | urn:reso:upi:2.0:US:06037:5337003027 |
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Based on information from California Regional Multiple Listing Service, Inc. as of October 08, 2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
California Regional Multiple Listing Service, Inc. data last updated on October 08, 2026 05:06 PM - ET
Property Last Updated: October 08, 2026 05:06 PM - ET
