1515 West Commonwealth Avenue

Alhambra, CA 91801

$2,875,000
Price
3
Beds
8
Baths
6,392 Sq. Ft.
$450 / Sq. Ft.
6,392
Sq. Ft.
$450
per Sq. Ft.

Description

A rare opportunity in Alhambra, CA! This 8-unit apartment property, on the market for the first time since 1959, offers a prime corner location with parking on both Bushnell Ave and Commonwealth Ave. The unit mix includes six 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, with four units to be delivered vacant, presenting immediate market rent potential. This low-maintenance property features separate gas and electric meters for each unit, a master water meter, and 7 garage parking...A rare opportunity in Alhambra, CA! This 8-unit apartment property, on the market for the first time since 1959, offers a prime corner location with parking on both Bushnell Ave and Commonwealth Ave. The unit mix includes six 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, with four units to be delivered vacant, presenting immediate market rent potential. This low-maintenance property features separate gas and electric meters for each unit, a master water meter, and 7 garage parking spaces plus 1 open space. On-site washer and dryer units, owned by the landlord and included in the sale, provide additional income opportunities. Conveniently located within walking distance of Costco Wholesale (0.5 miles) and with easy access to the 710 and 10 freeways, this property is perfect for investors seeking a solid, long-term asset with very low vacancy.
  1. Listed by DONALD LA • DRE #01928418 • Brokerage DRE #02003950 • KW Executive • 626-888-2995

Property Details for 1515 West Commonwealth Avenue

Parking Spaces Total
8
Private Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
6392
Assessor Parcel Number
5343-006-001
Property Attached YN
true
LISTING UPDATED: 01/06/2025 02:38 AM

Property Details for 1515 West Commonwealth Avenue

StatusActive
MLS #WS25000910
Days on Market8
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1951
CountyLos Angeles County

Building Information for 1515 West Commonwealth Avenue

Building/Complex1515 W Commonwealth AveFloor-Stories2Residences-Pet Policy-Year Built1951Building Size-

Property Information for 1515 West Commonwealth Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $156,720
  • Gross Scheduled Income: $156,720
  • Net Operating Income: $110,625
Expense Details
  • Operating Expense: $46,095
  • New Taxes Expense: $33,715
  • Fuel Expense: $784
  • Electric Expense: $267
  • Insurance Expense: $4,202
  • Professional Management Expense: $0
  • Trash Expense: $2,318
  • Water Sewer Expense: $2,361
  • Total Expenses: $46,095
Tax / Assessment Info
  • Tax Tract Number: 15597
  • Tax Census Tract: 4809.01
  • CFD/Mello-Roos Fee: $2,802
  • Tax Lot: 1
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Individual Room
Exterior Features
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 7
  • Uncovered Spaces: 1
  • Open Other Spaces Total: 1
  • Parking Garage Spaces: 7
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,800
  • Unit Type Total Rent: $3,800
  • Unit Type Pro Forma: 3800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 6
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $9,260
  • Unit Type Total Rent: $9,260
  • Unit Type Pro Forma: 12600
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 1515 West Commonwealth Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1515 West Commonwealth Avenue

Taxable ValueLand$42,991Additions$144,178Total$187,169
Tax Record2024$4,643 ($387 / month)
Home Facts
Total Finished SqFt6,392 SqFtAbove Grade Finished SqFt6,392 SqFtLot Size7,166 SqFtStyleMulti-Family Res (5+ Units)Year Built1951ZoningALRPD*CountyLOS ANGELESAPN5343-006-001

Schools near 1515 West Commonwealth Avenue

This home is within Alhambra Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
William Northrup Elementary School
PublicK to 8

Alhambra High School
Public9 to 12

Independence High (Alternative) School
Public9 to 12

Century High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1515 West Commonwealth Avenue is a multi-family home for sale in Alhambra, CA 91801. This property was listed for sale on January 6, 2025 by KW Executive, it's currently listed at $2,875,000. This listing's school district is Alhambra Unified School District. Nearby schools include William Northrup Elementary School, Alhambra High School and Independence High (Alternative) School. 1515 West Commonwealth Avenue is a 3-bed, 8-bath, 6,392 sqft multi-family home built in 1951.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Executive, DONALD LA, DRE #01928418

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.