1237 S 3rd Street, Alhambra, California 91801, Alhambra, 91801 - bed, bath
ACTIVE$1,900,000
1237 S 3rd Street, Alhambra, California 91801
0Bed
0Bath
5,302Sqft
7,396Lot
Year Built
1931
Close
-
List price
$1.9M
Original List price
$1.9M
Price/Sqft
$358
HOA
-
Days on market
-
Sold On
-
MLS number
SB25134223
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.90M(92th), sqft - 5302(92th), beds - undefined(50th), baths - undefined(50th).
Location, Location, Location! When it comes to residential income properties, nothing is more important than a prime location—and this one delivers! Just steps from Valley Blvd, this well-maintained 4-unit property offers exceptional convenience, strong rental demand, and impressive cash flow potential. 3 units: 3 bedrooms + 2 bathrooms. 1 unit: 3 bedrooms + 1 bathroom. CAP Rate: 5.2%. Market CAP Rate: 6.75%
Nearby schools
7/10
Emerson (Ralph Waldo) Elementary School
Public,•K-6•1.5mi
6/10
Dewey Avenue Elementary School
Public,•K-6•1.9mi
9/10
Marengo Elementary School
Public,•K-5•2.4mi
3/10
Cesar Chavez Elementary School
Public,•K-6•2.5mi
5/10
Sierra Park Elementary School
Public,•K-6•2.5mi
8/10
Monterey Hills Elementary School
Public,•K-5•2.8mi
6/10
City Terrace Elementary School
Public,•K-5•3.0mi
7/10
Ramona Elementary School
Public,•K-8•0.3mi
6/10
Marguerita Elementary School
Public,•K-8•0.8mi
7/10
Ynez Elementary School
Public,•K-8•1.2mi
5/10
William Northrup Elementary School
Public,•K-8•1.3mi
7/10
Park Elementary School
Public,•K-8•1.4mi
4/10
Fremont Elementary School
Public,•K-8•1.5mi
5/10
Granada Elementary School
Public,•K-8•1.5mi
7/10
Garfield Elementary School
Public,•K-8•1.6mi
6/10
Emery Park Elementary School
Public,•K-8•1.7mi
6/10
Garvey (Richard) Intermediate School
Public,•7-8•1.8mi
8/10
Martha Baldwin Elementary School
Public,•K-8•1.9mi
8/10
Monterey Highlands Elementary School
Public,•K-8•2.4mi
9/10
South Pasadena Middle School
Public,•6-8•2.4mi
5/10
El Sereno Middle School
Public,•6-8•3.0mi
6/10
Jefferson Middle School
Public,•6-8•3.2mi
9/10
Mark Keppel High School
Public,•9-12•0.9mi
7/10
Alhambra High School
Public,•9-12•1.1mi
8/10
San Gabriel High School
Public,•9-12•1.3mi
3/10
Del Mar High School
Public,•10-12•2.0mi
8/10
Gabrielino High School
Public,•9-12•2.0mi
9/10
South Pasadena Senior High School
Public,•9-12•2.6mi
4/10
Woodrow Wilson Senior High School
Public,•9-12•3.5mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•4.5mi
Price History
Date
Event
Price
06/18/25
$1,900,000
Condition Rating
Poor
Built in 1931, this property shows significant signs of age and deferred maintenance. The exterior has peeling paint, and the visible bathroom is extremely dated with a pedestal sink and old-style tiles, suggesting renovations (if any) occurred 30-50+ years ago. The absence of kitchen images implies it is also very outdated. While functional, the property requires substantial repairs and rehabilitation, including full kitchen and bathroom remodels, exterior work, and likely major system upgrades (electrical, plumbing) to meet modern standards and comfort.
Pros & Cons
Pros
Prime Location: The property boasts an excellent location, 'just steps from Valley Blvd,' ensuring high visibility, accessibility, and strong rental demand in Alhambra.
Strong Income Potential: As a 4-unit residential income property (quadruplex) with a 5.2% CAP Rate, it offers 'impressive cash flow potential' for investors.
Desirable Unit Mix: The property features a practical unit configuration of three 3-bedroom/2-bathroom units and one 3-bedroom/1-bathroom unit, appealing to a broad tenant base.
Well-Maintained Condition: The description highlights the property as 'well-maintained,' suggesting a good current state and potentially fewer immediate repair needs for a new owner.
High Rental Demand: The prime location contributes to 'strong rental demand,' indicating a stable tenant pool and consistent occupancy rates.
Cons
Lower CAP Rate than Market: The property's 5.2% CAP Rate is notably lower than the stated market CAP Rate of 6.75%, suggesting it may be priced higher relative to its current income or offers a lower return compared to market averages.
Age of Property: Built in 1931, the property is nearly a century old, which could imply potential for aging infrastructure (e.g., plumbing, electrical, roof) and higher long-term capital expenditure requirements.
Lack of Detailed Upgrades: While 'well-maintained,' the description does not specify recent major system upgrades or renovations, which could lead to unforeseen costs for an older income-generating asset.