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REDUCED – 6 UNITS | ALHAMBRA
$1,950,000

Under Contract
  • Summary
  • Location
  • Amenities

Realty Investment Advisors is pleased to present 501 S. Chapel Avenue, a charming six-unit apartment complex in the heart of Alhambra. Situated on a 7,652 square foot lot, the property features an ideal unit mix consisting of a two-bedroom, one-and-a-half-bath+den two-story townhouse-style owner’s unit, two two-bedroom, one-bath units, two one-bedroom, one-bath units, and one non-conforming studio (delivered vacant) with one bath.  One of the one-bedroom units received a complete renovation in 2023, and the non-conforming studio was remodeled in 2021. Newer windows enhance the property’s overall appeal.

This is the first time in over 45 years that this property has come to market, offering 13 generous parking spaces, individual gas and electricity meters and an on-site laundry room.

The property is ideally located within walking distance of Almansor Park, the Alhambra Golf Course, Alhambra Place, and the vibrant shops and restaurants lining Main Street in downtown Alhambra. Don’t miss out on this outstanding investment opportunity!

  • First Time on the Market in Over 45 Years!
  • Significant Rental Upside Potential
  • No Local Rent Control; Subject to AB1482 (5% + CPI Annual Increases)
  • 1967 Construction
  • Excellent Alhambra Location
  • Individually Metered for Gas and Electricity
  • Updated with Newer Windows
  • 13 Parking Spaces
  • 2 Bedroom 1.5 Bath+den Two-Story Townhouse Style Owner’s Unit

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