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$950,000 / 3240ft2 - Apartment Building for Sale 5 Units Mixed Use Retail (El Sereno)
Alhambra Ave, Los Angeles, CA 90032
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The property includes four apartment units, one mixed-use retail/office space, and a non-conforming bonus unit. The bonus unit is currently used for washer/dryer hookups but was previously configured as a small studio, offering future potential income. Together the buildings comprise approximately 3,240± SF on a 7,905± SF lot.
Two units are currently vacant: the ground-floor 750 SF retail/office space and a 3-bedroom, 1-bath apartment that is in the process of vacating. All other tenants are on month-to-month leases, making this an excellent value-add investment with immediate upside in rental income and repositioning potential.
The property benefits from a prime, central location just blocks north of Cal State Los Angeles, 500 feet from the Alhambra border, and three minutes from South Pasadena. It sits on the edge of a tree-lined residential neighborhood where single-family homes are trading for over \$1 million, highlighting the strength and desirability of the area.
Additional features include a gated and paved parking lot with space for up to 10 vehicles, double egress, and significant potential for prominent signage thanks to corner exposure and dual street frontage. The property has a strong Walk Score of 85–90, underscoring its walkability and tenant appeal. A relatively new upgraded main power panel, individually metered units, and durable stucco stick-built construction add to the long-term stability of the asset.
Unit mix consists of two 3-bedroom/1-bath units, one 2-bedroom/1-bath unit, one 1-bedroom/1-bath standalone house, one retail/office unit with three rooms and a bathroom with shower, and the non-conforming bonus studio unit with a half bath. This layout provides multiple income streams and the ability to capture additional rental upside through improvements and repositioning.
The location is one of the strongest selling points. The property is within minutes of Pasadena, Monterey Park, Highland Park, Downtown Los Angeles, and Lincoln Park. Nearby are major employers such as USC Keck Medical Center, Kaiser Permanente, the Grifols Corporate Campus, the Alhambra Office Complex, and Cal State LA. The property also sits close to new business developments, including HATCH, Stomping Grounds, and a growing community of local restaurants, shops, and creative spaces. National retailers such as Target, Costco, Starbucks, LA Fitness, Home Depot, and The Shops at the Alhambra provide a strong commercial backbone, while dozens of emerging businesses and art galleries are revitalizing the neighborhood.
Transportation access is excellent, with the property located along Alhambra Avenue—a main thoroughfare connecting to Mission Road and Cal State LA—and within minutes of the 710, 10, 110, and 5 freeways. The site is also less than five minutes from 10 different universities and colleges, offering consistent tenant demand from students, faculty, and employees.
This is a rare opportunity to purchase two adjacent buildings in the heart of El Sereno, one of Northeast Los Angeles’ fastest-growing neighborhoods. With its central location, flexible C2 zoning, immediate rental upside, large parking lot, and future development potential, 5501–5505 Alhambra Ave presents both stable cash flow and long-term appreciation.
We cooperate with licensed brokers. California-licensed brokers are welcome to inquire regarding a potential co-broker fee, which will be discussed.
Contact us today for more information or to schedule a meeting show contact info .