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September 19, 2019
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MULTIFAMILY NEWS
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Investor Pays $395k/Unit for San Gabriel Valley Apartment Building

7/17/19

In a recent multifamily sales comp from the San Gabriel Valley, an 11-unit property in Alhambra sold $4.35 mil, or $395.5k/unit, in an all-cash deal. The property, The Courts Alhambra, is located at 1508-1512 W Huntington Dr, just west of Atlantic Blvd.

The Courts Alhambra features 10 structures, including nine bungalows and a duplex. Each unit offers laundry hook-ups, individual water heaters, and hardwood floors. Most units have central air and heat, and private single garages. The 9.3k sf property is in close proximity to shopping, dining, and entertainment in downtown Alhambra and South Pasadena.

Priscilla Nee of CBRE represented the unidentified, private investor seller.

“This is a well-maintained and charming property in an unbeatable location near a multitude of conveniences and in proximity to hubs such as Pasadena and Downtown Los Angeles,” said Nee. “Demand for multifamily housing in our area remains incredibly strong. As with most of the assets we handle, we received multiple offers on this property and hit our number.”





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