Long-term ownership since 1974 presents the opportunity to acquire a well-maintained 13-unit apartment property located in the desirable Midwick Park / Alhambra Hills neighborhood of Alhambra. The property features an attractive unit mix, recent capital improvements including newer roof and electrical panels, 11 carports, on-site storage, and strong long-term tenancy. Excellent San Gabriel Valley location near Cal State LA, Downtown Alhambra amenities, and the I-10 Freeway. Approximately 10%+ rental upside with stable in-place income.
Alhambra Hills, located between Fremont Avenue and Huntington Drive, is a hillside and residential Alhambra neighborhood with winding streets and wide valley views. The character concentrates around the Fremont Avenue corridor near Main Street, where independent eateries, bakeries, and late-night dessert counters set a lively, walk-and-grab rhythm. Mid-century ranch homes and Spanish Revival touches sit on curving lots, with pockets of stair-stepped streets that feel tucked from the grid. The hillsides frame quick drives to the San Gabriel Mountains and the San Gabriel River greenbelt. The Hat anchors local comfort-food tradition, while Alhambra Cinema and Edwards Alhambra Renaissance keep movie nights on the calendar. Weekends often orbit around open lawns and shaded paths at nearby parks.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Ceiling fan
Gated community
Bedrooms
One 1-bedroom unit (8 units)
Four 2-bedroom units (4 units)
One 2-bedroom unit with 1.5 baths (1 unit)
Bathrooms
1.0 bath in most units
1.5 bath in one unit
Kitchen
Gas oven
Gas cooktop
Range/Oven
Refrigerator
Laundry & utility
On-site laundry area
Tenants pay electric and gas
Heating & cooling
Ceiling fans for cooling
Wall unit cooling
Exterior features
Alley access
No other detached structures listed
Landscaping and yard details not provided
Home design
Residential income property
Two-level building
Gated
Parking
Carport
Total of 11 parking spaces
Security
Gated community
Construction
Year built not provided
Construction material and roof not provided
Foundation details not provided
Utilities
Water heaters present
Tenant-responsible utilities: electric and gas
HOA & community
Part of a 13-unit complex
Financial info
Actual annual gross rent: $287,040
Gross operating income: $280,382
Net operating income: $166,948
Total annual expenses: $113,434
Laundry income: $1,953
Cap rate: 4.51
Gross rent multiplier: 12.89
Vacancy rate: 3%
Vacancy allowance: $8,611
Listing terms: Cash
Other
Property type: Residential income
Number of buildings: 1
Total units in complex: 13
Has water heaters
Electricity and solar
View estimated energy costs and solar savings for this home
The RH Zone is intended to provide for a variety of housing types at densities up to 24, 43, or 64 dwelling units per acre depending on location and lot size. A variety of housing types are allowed, including attached and detached single-unit dwellings, townhomes, condominiums, garden-style units, multi-unit developments, and apartments. This Zone also provides for public uses, quasi-public uses, and similar and compatible uses that may be appropriate in a high density residential environment. The RH Zone implements the High Density Residential General Plan land use designation.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Jul 28, 2021 • Final
Reroof permit - residential
Tear off the existing roof and install a new roof on a building.
Roofing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
3/10 Flood Factor
Estimated 11-17% chance of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 95° expected this year, 21 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
6/10 Air Factor
11 unhealthy days expected this year, 12 days in 30 years
Provided by First Street
Historical weather
Alhambra, CA • 91803
Average low and high temperatures (°F)
70
48
72
51
74
54
73
54
76
58
81
61
83
62
89
66
85
65
80
58
72
52
70
50
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
84/ 100
Very good sunlight
Sunscore
This home receives average direct sun exposure in the zip code. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.2 hrs
6.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 3111 W Ramona Rd
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