2 months on rocket

22 N Electric Ave, Alhambra, CA, 91801

$2,480,000

Home List Price

$10,000*

Closing Credit

0 Baths
Condo

Location

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22 N Electric Ave, Alhambra$2,480,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
Garage5 spaces
Year Built1948
MLS #AR24172997
Lot Size0.17 Acres
StatusActive

About 22 N Electric Ave

We are delighted to present an exceptional income property opportunity in the heart of Alhambra, perfectly suited for savvy investors seeking both short-term and long-term rental potential. This fully renovated multi-family property comprises five units: one 1-bedroom, 1-bath unit with the potential to convert into a 3-bedroom, and four 2-bedroom, 1-bath units. Each unit has been meticulously updated within the last year, featuring new flooring, fresh paint, and comes fully furnished, making them perfect for Airbnb or long-term tenants, offering flexibility in a high-demand rental market. This property offers unparalleled flexibility in a high-demand rental market. Strategically located just 15 minutes from Downtown Los Angeles, it presents a unique high-growth investment opportunity. The sale includes the existing Airbnb listings for all 5 units, ensuring positive cash flow from the close of escrow. Whether you're looking to continue the thriving short-term rental operation or transition to long-term leases, this property provides unmatched flexibility in a high-demand rental market. Its central location positions it as a prime asset ahead of major upcoming events, such as the 2026 FIFA World Cup and the 2028 Olympics, ensuring a steady stream of rental income. Additionally, the property is rent control-proof, making it a secure investment in an evolving market.

Property Details

Property Features

Property Information:

  • Year Built: 1948
  • Stories: 2

Listing Office:

  • Office Name: Universal Elite Realty
  • Office Email: Realtorfay@hotmail.com
  • Listing Agent: Fay Xu

Interior Features

Interior Information:

  • Appliances: Dryer, Washer

Exterior Features

Exterior Information:

  • Private Pool: No

Parking Information:

  • Garage Space: 5 spaces

Lot Features

Lot Information:

  • Lot: Rectangular Lot
  • Lot Size: 0.17 Acres

Other

Directions Information:

  • Directions: North of Main Street, West of Atlantic Boulevard

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,480,000

Tax Information:

  • Annual Amount: $22,745
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Alhambra, CA.

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Alhambra, CA

City

Med. Sold Price

$867K

Med. Price/SqFt

$613

Avg. Days On Market

30

# of Sold Homes

28

22 N Electric Ave vs Alhambra

83 DAYS ON ROCKET

+53 Days

$2,480,000

+$1.6M More

KEY TAKEAWAY

This property is $1.6M more than the Median Sold Price in Alhambra, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #AR24172997

Listing Office:

  • Office Name: Universal Elite Realty
  • Office Email: Realtorfay@hotmail.com
  • Listing Agent: Fay Xu

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 9:21:01 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Mar 05, 2020Home Sold
$1,800,000

Tax History

YEARPROP. TAXASSESSMENT
2021$22,745$1,818,647
2020$6,599$420,545
2019$6,532$412,300
2018$6,409$404,217
2017$6,409$396,292

History based on county public records data.

Payment Calculator

$12.4K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$7,502

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-430687
7
/10

  • Sierra Vista Elementary

  • 4342 Alpha St

  • 1.16 miles

  • Public District Grades KG-6

school-card-donut-430688
9
/10

  • Marengo Elementary School

  • 1400 Marengo Ave

  • 1.25 miles

  • Public District Grades KG-5

school-card-donut-430689
8
/10

  • Monterey Hills Elementary School

  • 1624 Via Del Rey

  • 1.65 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $38,569. Residents of Alhambra, CA typically earn less than $35k each year. The most common type of family is single, no kids. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 22 N Electric Ave

What is the listing price of this property?

The listing price of 22 N Electric Ave property is $2,480,000.

What type of property is this?

The property 22 N Electric Ave is a condo located in Alhambra, California, 91801.

Is this property for sale now?

Active Listing: 22 N Electric Ave is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $22,745 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on March 5, 2020 for $1,800,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 22 N Electric Ave is 1948.

Rocket Homes›California›Los Angeles County›Alhambra›91801›22 N Electric Ave

This home is located at 22 N Electric Ave in Alhambra, CA and zip code 91801 in the The San Gabriel Valley neighborhood. This home, which was built in 1948, sits on a 0.17 acre lot. It has been listed on Rocket Homes since August 26, 2024 and is currently priced at $2,480,000.

In October 2024, from all listings sold in Alhambra, CA there were more than 16 sold above asking price, over 10 sold below and more than 2 were sold right at the asked price. The inventory of homes for sale in Alhambra, CA between September 2024 and October 2024 increased by 8.9%. While the average time on the market in October 2024 was 30 days, the median list price was $867,000.

From Rocket Homes Real Estate and based on county public records data.

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