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5501 Alhambra Ave, Los Angeles, CA 90032
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5501 Alhambra Ave Los Angeles, CA 90032

$988,888
  • 8 Beds
  • 3 Baths
  • 2,870 Sq.Ft.
For Sale
$988,888 Get Pre-Qualified
Map preview of 5501 Alhambra Ave, Los Angeles, CA 90032

Property Overview: 5501 Alhambra Ave Los Angeles, CA has 8 bedrooms, 3 bathrooms, 2,870 living square feet and 2,740 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Step into a piece of history with this charming mixed-use property 5501 and 5505 Alhambra Ave nestled in the heart of historic El Sereno. Offering a unique blend of commercial and mixed use, this property presents an exceptional opportunity for investors and homeowners alike. This property enjoys a prime location with convenient access to local shops, restaurants, and cultural attractions. Embrace the rich heritage of the area while being just moments away from the bustling city life of Los Angeles. The property features Two APN'S 5220-023-014 & 5220-023-015 Sold Together four residential living units, offering a total of 2,870 square feet of living space and 2,740 square feet lot. Two units boast 2 bedrooms and 1 bathroom each, providing comfortable living quarters for residents. Another unit offers 3 bedrooms and 1 bathroom, 5 Electrical and Gas Meters. Perfect for larger households seeking ample space. Additionally, a detached unit provides privacy with 1 bedroom and 1 bathroom, ideal for rental opportunity. A storefront commercial space APN 5220-023-015 comprising 370 square feet and 5,167 square feet lot presents endless possibilities for entrepreneurs and small business owners. Whether you envision a boutique shop, cafe, or office space, this area offers the perfect canvas to bring your vision to life. This property offers excellent income potential for investors seeking to capitalize on the demand for properties in the area. 3 units will be available vacant.

Listed by Laura Ruvalcaba | BRE #02019308 | RE/MAX TOP PRODUCERS
Last checked: 11 minutes ago | Last updated: April 21st, 2024 | Source CRMLS | DOM: 13
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Home details

Lot Sq. Ft
2,740
HOA Dues
$0/mo
Year built
1933
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
CV24075991
City
Los Angeles
County
Los Angeles
Time on Site
14 days

Open Houses for 5501 Alhambra Ave

No upcoming open houses

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Property Details for 5501 Alhambra Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Laundry Information
  • Has Laundry
  • Stackable
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Kitchen, Living Room
Bathroom Information
  • # of Baths (Full): 3
Interior Features
  • Levels: Multi/Split
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: City Lights
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 5220023014
  • Year Built Source: Other
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Unknown
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Schools
School Information
  • High School District: Los Angeles Unified
Location / Neighborhood
Location Information
  • Directions: Covina St / Alhambra Ave
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 5501 Alhambra Ave

Last sold for $355,000 on September 18th, 2003

  • April, 2024

  • Apr 17, 2024

    Date

    Active

    CRMLS: CV24075991

    $988,888

    Price

  • December, 2023

  • Dec 26, 2023

    Date

    Expired

    CRMLS: WS23041898

    $1,200,000

    Price

  • Jun 29, 2023

    Date

    Active

    CRMLS: WS23041898

    $1,200,000

    Price

  • Listing provided courtesy of CRMLS

    Welcome to 5501 & 5505 Alhambra Ave, a prime real estate opportunity for investors looking to own a versatile property in the heart of Los Angeles, CA. This property offers a diverse range of opportunities, from its unit mix to its potential development opportunity, making it an ideal investment for those seeking significant value added and huge upside potential. This property boasts a unit mix of (1) 1 Bed x 1 Bath, (2) 3 Bed x 1 Bath, and (1) 2 Bed x 1 bath with a retail unit. Currently, the units are generating $1,200, $830, $1,500, $1,450, and $860, respectively, for a total of $5,840 per month in rental income, providing stable income in place. And with a gross cap rate of 5.9%, this property offers a lucrative investment opportunity with significant potential for increased returns. With a remarkable 40% upside potential, investors can maximize their profits by implementing strategic improvements and optimizing rental rates. Additionally, three units can be delivered vacant, allowing for flexibility in leasing and renovation plans. Situated on two parcels of land, this property boasts a combined 7,905 sq ft of lot space per assessor records, providing ample space for potential development or expansion. The LAC2 zoning presents a diverse range of opportunities, making this an exciting investment prospect with plenty of value-added potential. Located in a prime area, this property offers excellent access to local amenities and transportation, making it an attractive option for renters. The APNS are 5220023014 and 5220023015 for each lot, with one parcel hosting the main building with one (1) retail storefront and (3) living units, while the other parcel features an additional living unit located at the back of the property. Overall, 5501 Alhambra Ave is an exceptional investment opportunity with great income in place, prime location, and numerous possibilities for development or expansion. Don't miss out on the chance to invest in this unique property - schedule a viewing today to learn more!

  • February, 2023

  • Feb 15, 2023

    Date

    Expired

    CRMLS: SR22035827

    $1,200,000

    Price

  • Feb 23, 2022

    Date

    Active

    CRMLS: SR22035827

    $1,250,000

    Price

  • Listing provided courtesy of CRMLS

    Calling all OWNER USERS/INVESTORS!!! Presenting this two-parcel, 5-unit investment opportunity at 5501 & 5505 Alhambra Ave. With over 3,200 sqft of Gross Building Area, the two parcels have a combined 7,905 sqft of lot space per assessor records. Whether as an income property or potential development opportunity on LAC2 ZONING, a diverse range of opportunities await to be unlocked by a lucky investor. The APNS are 5220023014 and 5220023015 for each lot. One parcel is home to the main building with one (1) retail storefront and (3) living units, with one (1) additional living unit located at the back of the property on the other parcel. The unit mix is (1) 1 Bed x 1 Bath, (2) 3 Bed x 1 Bath, (1) 2 Bed x 1 bath, and (1) retail unit. Per the seller, all 4 living units are on month-to-month leases, with great income in place. All buyers to perform their own investigations and due diligence. The exterior of the buildings has been recently repainted, with renovations done to the retail unit around 2014-2015. PLEASE DO NOT DISTURB TENANTS. DO NOT WALK THE PROPERTY.

  • September, 2003

  • Sep 18, 2003

    Date

    Sold (Public Records)

    Public Records

    $355,000

    Price

  • October, 1999

  • Oct 1, 1999

    Date

    Sold (Public Records)

    Public Records

    $150,000

    Price

Show More

Tax History for 5501 Alhambra Ave

Assessed Value (2020): $285,996
Year Land Value Improved Value Assessed Value
2020 $97,495 $188,501 $285,996

Home Value Compared to the Market

This property vs the competition

5501 Alhambra Ave is listed 19.27% lower than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $344.56 per/sqft which puts the price per square foot 55.48% lower than the median price per square foot for the city of Los Angeles.

About 5501 Alhambra Ave

Detailed summary of property

5501 Alhambra Ave is a mixed use located in Los Angeles, CA 90032 and is currently for sale. This mixed use property offers 8 bedrooms, 3 bathrooms, roughly 2,870 living square feet, and sits on an approximately 2,740 square foot lot. 5501 Alhambra Ave was first listed on ArdentRealEstateGroup.com on April 17, 2024. The homeowner is currently asking $988,888. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 19.27% lower than the median priced home. Local competing homes currently for sale include 849 S Broadway #802, 849 S Broadway #307 and 801 S Grand Ave #1904. While the average home in Los Angeles, CA is selling in 96 days, 5501 Alhambra Ave has a days on market of 13 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 5501 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 5501 Alhambra Ave

Public county record property details
Beds
--
Baths
--
Year built
1933
Sq. Ft.
2,870
Lot Size
2,740
Stories
1
Type
Commercial/Office/Residential (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
23
APN
5220-023-014

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
$858,000
Median List Price/Sq.Ft.
$637
Median Sold Price
$750,000
Median Sold Price/Sq.Ft.
$676
Total Inventory
57
Median Sale to List Price %
93.75%
Avg Days on Market
20
Loan Type
Conventional (40%), FHA (10%), VA (0%), Cash (20%), Other (10%)

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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.

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