5229 Alhambra Ave, Los Angeles, CA 90032

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5229 Alhambra Ave Los Angeles, CA 90032

$1,670,000 Sold Price as of 05/12/2023

10 Beds
5 Baths
3,500 Sq.Ft.

Sold

$1,670,000 Sold Price as of 05/12/2023 Refinance Your Mortgage

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Map preview of 5229 Alhambra Ave, Los Angeles, CA 90032

Property Overview: 5229 Alhambra Ave Los Angeles, CA has 10 bedrooms, 5 bathrooms, 3,500 living square feet and 5,016 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Huge 100k Price Reduction! Rare Non-Rent Control (1989 built) 5-unit opportunity with 4 fully renovated vacancies in prime El Sereno. The property is ready to cash flow at an amazing Current Cap Rate of 6% and 12.4 GRM. Excellent unit mix of all spacious 2 bedroom, 1 bath units with 2 parking spaces for each unit. There's an additional upside to a 6.8% Cap Rate and 11.3 GRM on proforma. The property was built in 1989 and is not subject to LA City Rent control, therefore allowing for 10% annual increases (5% + CPI). The property was meticulously renovated in 2022 featuring exterior upgrades, new cabinets, flooring, lighting, bathrooms, stainless steel appliances, and washer/dryer in unit. Located in the El Sereno neighborhood of Los Angeles which is centrally located to downtown LA, Cal State LA University, and neighboring Alhambra and Pasadena. All units are individually metered for gas and the property has 10 tandem parking spaces in the back. In addition, there are preliminary plans to add 2 detached ADUs in the back for future upside.

Listed by Julio Ruiz | BRE #01911261 | Global Platinum Properties, Inc.
Co-listed by Armin Soleimani | BRE #01846872 | Global Platinum Properties, Inc.

Last checked: 10 minutes ago | Last updated: July 6th, 2023 | Source CRMLS | DOM: 45

Home details

Lot Sq. Ft: 5,016
HOA Dues: $0/mo
Year built: 1989
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 23250953
City: Los Angeles
County: Los Angeles
Time on Site: 426 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 5
Total # of Buildings: 5

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Furnished
Actual Rent: $2,795
Total Rent: $0
Pro Forma/Market Rent: $2,795

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Furnished
Actual Rent: $2,795
Total Rent: $0
Pro Forma/Market Rent: $2,795

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Furnished
Actual Rent: $2,795
Total Rent: $0
Pro Forma/Market Rent: $2,798

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Furnished
Actual Rent: $2,795
Total Rent: $0
Pro Forma/Market Rent: $2,795

Unit Breakdown 5

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Furnished
Actual Rent: $2,795
Total Rent: $1,484
Pro Forma/Market Rent: $2,795

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 6%
Gross Rent Multiplier: 12.47
Gross Scheduled Income: --
Net Operating Income: $113,630
Gross Operating Income: $147,407

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 5229 Alhambra Ave

Interior Features

Heating Information

Has Heating
Wall Furnace

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 10
Has Parking
Parking Features: Tandem Garage

Property Information

Total # of Units: 5
Parcel Number: 5217020033

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: Located between Lombardy Blvd. & Endicott St. Just North of Valley Blvd and the 710 FWY.

View more facts & features

Local Los Angeles Agent

Sale History for 5229 Alhambra Ave

Last leased for $2,350 on July 5th, 2023

July, 2023
Jul 5, 2023

Date

Leased

CRMLS: IV23094455

$2,350

Price
May 30, 2023

Date

Active

CRMLS: IV23094455

$2,500

Price
Listing provided courtesy of CRMLS

Welcome to your Newly Renovated and Modernized apartment located at 5229 Alhambra Ave. This stunning 2 bedroom, 1 bathroom unit boasts Luxurious finishes throughout and is the perfect place to call home. Whether you're a student at Cal State LA or working in Downtown LA, this property is conveniently located just minutes away from both. For those who qualify, Section 8 is accepted at this property which makes it an even more affordable option for those who need it. As you step inside, you'll be greeted by the spacious living area with Brand New Flooring, High Ceilings, and large windows that let in an abundance of natural light. The kitchen is a chef's dream with New Blanco Ristretto Quartz Countertops and Custom Grigio Zebrano Splash, as well as a New Stainless Steel Gas Range and Built-In Range Hood. Plus, there's even a Brand New Stainless Steel Dishwasher and Refrigerator for your convenience. The bathroom has been Completely Remodeled with glass shower doors, floor to ceiling Blanco Subway Tile Backsplash, Chic New Sink Vanity, and New Toilet. Both bedrooms are spacious and feature large windows that let in plenty of light. There are two parking spaces available for your use and if laundry is a concern for you, don't worry - there's a laundry hook-up for your convenience. This apartment also has some great outdoor features including a community front yard where you can relax and enjoy the beautiful California weather. Plus, with the built-in heater/air conditioner, you'll be comfortable year-round. Overall, this newly renovated condo is the perfect place to call home. With its convenient location near Cal State LA and Downtown LA, luxurious finishes throughout, and great outdoor features - what more could you ask for? Don't miss out on this amazing opportunity!

Continue Reading
July, 2023
Jul 1, 2023

Date

Leased

CRMLS: IV23099046

$2,350

Price
Jun 5, 2023

Date

Active

CRMLS: IV23099046

$2,500

Price
Listing provided courtesy of CRMLS

Welcome to your Newly Renovated and Modernized apartment located at 5229 Alhambra Ave. This stunning 2 bedroom, 1 bathroom unit boasts Luxurious finishes throughout and is the perfect place to call home. Whether you're a student at Cal State LA or working in Downtown LA, this property is conveniently located just minutes away from both. For those who qualify, Section 8 is accepted at this property which makes it an even more affordable option for those who need it. As you step inside, you'll be greeted by the spacious living area with Brand New Flooring, High Ceilings, and large windows that let in an abundance of natural light. The kitchen is a chef's dream with New Blanco Ristretto Quartz Countertops and Custom Grigio Zebrano Splash, as well as a New Stainless Steel Gas Range and Built-In Range Hood. Plus, there's even a Brand New Stainless Steel Dishwasher and Refrigerator for your convenience. The bathroom has been Completely Remodeled with glass shower doors, floor to ceiling Blanco Subway Tile Backsplash, Chic New Sink Vanity, and New Toilet. Both bedrooms are spacious and feature large windows that let in plenty of light. There are two parking spaces available for your use and if laundry is a concern for you, don't worry - there's a laundry hook-up for your convenience. This apartment also has some great outdoor features including a community front yard where you can relax and enjoy the beautiful California weather. Plus, with the built-in heater/air conditioner, you'll be comfortable year-round. Overall, this newly renovated condo is the perfect place to call home. With its convenient location near Cal State LA and Downtown LA, luxurious finishes throughout, and great outdoor features - what more could you ask for? Don't miss out on this amazing opportunity!

Continue Reading
June, 2023
Jun 22, 2023

Date

Leased

CRMLS: IV23099041

$2,350

Price
May 30, 2023

Date

Active

CRMLS: IV23099041

$2,500

Price
Listing provided courtesy of CRMLS

Welcome to your Newly Renovated and Modernized apartment located at 5229 Alhambra Ave. This stunning 2 bedroom, 1 bathroom unit boasts Luxurious finishes throughout and is the perfect place to call home. Whether you're a student at Cal State LA or working in Downtown LA, this property is conveniently located just minutes away from both. For those who qualify, Section 8 is accepted at this property which makes it an even more affordable option for those who need it. As you step inside, you'll be greeted by the spacious living area with Brand New Flooring, High Ceilings, and large windows that let in an abundance of natural light. The kitchen is a chef's dream with New Blanco Ristretto Quartz Countertops and Custom Grigio Zebrano Splash, as well as a New Stainless Steel Gas Range and Built-In Range Hood. Plus, there's even a Brand New Stainless Steel Dishwasher and Refrigerator for your convenience. The bathroom has been Completely Remodeled with glass shower doors, floor to ceiling Blanco Subway Tile Backsplash, Chic New Sink Vanity, and New Toilet. Both bedrooms are spacious and feature large windows that let in plenty of light. There are two parking spaces available for your use and if laundry is a concern for you, don't worry - there's a Brand New In-Unit Washer/Dryer for your convenience. This apartment also has some great outdoor features including a community front yard where you can relax and enjoy the beautiful California weather. Plus, with the built-in heater/air conditioner, you'll be comfortable year-round. Overall, this newly renovated condo is the perfect place to call home. With its convenient location near Cal State LA and Downtown LA, luxurious finishes throughout, and great outdoor features - what more could you ask for? Don't miss out on this amazing opportunity!

Continue Reading
June, 2023
Jun 22, 2023

Date

Leased

CRMLS: IV23099035

$2,350

Price
May 30, 2023

Date

Active

CRMLS: IV23099035

$2,500

Price
Listing provided courtesy of CRMLS

Welcome to your Newly Renovated and Modernized apartment located at 5229 Alhambra Ave. This stunning 2 bedroom, 1 bathroom unit boasts Luxurious finishes throughout and is the perfect place to call home. Whether you're a student at Cal State LA or working in Downtown LA, this property is conveniently located just minutes away from both. For those who qualify, Section 8 is accepted at this property which makes it an even more affordable option for those who need it. As you step inside, you'll be greeted by the spacious living area with Brand New Flooring, High Ceilings, and large windows that let in an abundance of natural light. The kitchen is a chef's dream with New Blanco Ristretto Quartz Countertops and Custom Grigio Zebrano Splash, as well as a New Stainless Steel Gas Range and Built-In Range Hood. Plus, there's even a Brand New Stainless Steel Dishwasher and Refrigerator for your convenience. The bathroom has been Completely Remodeled with glass shower doors, floor to ceiling Blanco Subway Tile Backsplash, Chic New Sink Vanity, and New Toilet. Both bedrooms are spacious and feature large windows that let in plenty of light. There are two parking spaces available for your use and if laundry is a concern for you, don't worry - there's a Brand New In-Unit Washer/Dryer for your convenience. This apartment also has some great outdoor features including a community front yard where you can relax and enjoy the beautiful California weather. Plus, with the built-in heater/air conditioner, you'll be comfortable year-round. Overall, this newly renovated condo is the perfect place to call home. With its convenient location near Cal State LA and Downtown LA, luxurious finishes throughout, and great outdoor features - what more could you ask for? Don't miss out on this amazing opportunity!

Continue Reading
May, 2023
May 12, 2023

Date

Sold

CRMLS: 23250953

$1,670,000

Price
Mar 14, 2023

Date

Active

CRMLS: 23250953

$1,895,000

Price
April, 2023
Apr 6, 2023

Date

Expired

CRMLS: 23247945

$2,950

Price
Mar 6, 2023

Date

Active

CRMLS: 23247945

$2,599

Price
Listing provided courtesy of CRMLS

This spacious apartment has been completely renovated with modern touches that are so effortless. Top-of-the-line updates include stainless steel appliances, a private washer/dryer, new lighting fixtures, flooring, and more! The details are just perfect as you make your way through this sunny 2-bedroom unit. Speaking of bedrooms, they are off to the side of the unit and are equally spacious in size with the one bathroom nearby. The bathroom features a subway-tiled shower/tub combo, vanity storage, and a sweet window detail! Bonus, the units come with 2 tandem parking spaces!

Continue Reading
March, 2023
Mar 12, 2023

Date

Canceled

CRMLS: 23234215

$1,895,000

Price
Jan 19, 2023

Date

Active

CRMLS: 23234215

$1,995,000

Price
Listing provided courtesy of CRMLS
March, 2023
Mar 6, 2023

Date

Leased

CRMLS: 23236127

$2,599

Price
Jan 26, 2023

Date

Active

CRMLS: 23236127

$2,745

Price
Listing provided courtesy of CRMLS
March, 2014
Mar 13, 2014

Date

Sold (Public Records)

Public Records

$765,000

Price
May, 2011
May 13, 2011

Date

Sold (Public Records)

Public Records

$575,000

Price

Tax History for 5229 Alhambra Ave

Assessed Value (2020): $860,279

Year	Land Value	Improved Value	Assessed Value
2020	$465,168	$395,111	$860,279

Home Value Compared to the Market

This property vs the competition

5229 Alhambra Ave sold on May 12, 2023 for 59.24% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $541.43 per/sqft which puts the price per square foot 28.29% lower than the current median sale per square foot for the city of Los Angeles.

About 5229 Alhambra Ave

Detailed summary of property

5229 Alhambra Ave is a multi family that recently sold in Los Angeles, CA 90032. This multi family property offered 10 bedrooms, 5 bathrooms, roughly 3,500 living square feet, and sits on an approximately 5,016 square foot lot. 5229 Alhambra Ave was first listed on ArdentRealEstateGroup.com on March 14, 2023. The homeowner sold the property for $1,670,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 59.24% higher than the current median priced home. Local homes that are currently for sale include 2415 Malabar St, 508 Chestnut Ave and 5910 Monte Vista St. While the average home in Los Angeles, CA is selling in 94 days, 5229 Alhambra Ave has a days on market of 45 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 5229 Alhambra Ave Los Angeles, CA 90032 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5229 Alhambra Ave

Public county record property details

Beds: 10
Baths: 5
Year built: 1989
Sq. Ft.: 3,500
Lot Size: 5,015
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 256,257
APN: 5217-020-033

The source for these homes facts are from public records.

90032 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$849,900

Median List Price/Sq.Ft.

$666

Median Sold Price

$750,000

Median Sold Price/Sq.Ft.

$676

Total Inventory

Median Sale to List Price %

93.75%

Avg Days on Market

Loan Type

Conventional (40%), FHA (10%), VA (0%), Cash (20%), Other (10%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message

(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.