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We are pleased to present the opportunity to acquire 1616 Cherry Lane, an attractive triplex property located in the highly desirable San Gabriel Valley submarket of Alhambra, California. Constructed in 1925, the property is situated on a well-maintained ±5,497 square-foot lot with a total building size of ±1,536 square feet. The property is conveniently situated at the cross streets of S Marengo Avenue and Front Street, and is only two blocks from Valley Boulevard, a major neighborhood thoroughfare with numerous retailers, restaurants, and popular stores. The location offers excellent connectivity, with easy access to the 10 and 710 Freeways, and is just minutes from Cal State University, Los Angeles and approximately 8 miles from Downtown Los Angeles. Neighboring cities include Monterey Park and San Gabriel. The property features an ideal unit mix of three 1-bedroom/1-bathroom units, all of which are single-story and ground-level. On-site parking is available via a 2-car garage and a single-car garage. The property has also undergone extensive recent capital improvements, including brand new kitchen cabinetry and countertops, renovated bathrooms, new flooring in select units, new exterior paint, fascia boards, rain gutters, and all windows and security screen doors have been upgraded. These improvements enhance the property's appeal and reduce future capital expenditures for a new owner. This offering presents an exceptional investment opportunity. With a highly attractive going-in cost basis of just $275,000 per unit, the property provides a strategic entry point for investors. Not subject to any local rent control, it offers significant rental upside, with market rents exceeding more than double the current rental income. 1616 Cherry Lane in Alhambra is a bread and butter, residential income producing asset positioned for long-term growth and capital appreciation. The property is well-suited for a variety of investment strategies, for a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Property Type(s):
Residential Income
| Last Updated | 9/8/2025 | Year Built | 1925 |
|---|---|---|---|
| Community | 601 - Alhambra | Garage Spaces | 3.0 |
| County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 601 - Alhambra |
| GARAGE | Yes |
| HEAT | Wall Furnace |
| LOT | 5497 sq ft |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
Location
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Listed with CB RICHARD ELLIS
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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