513 N Palm Avenue, Alhambra, CA 91801

Property Description

"Rare" triplex opportunity in a prime, highly desirable North Alhambra location directly across from the beautiful Alhambra Park, which features pristine tennis courts, a public swimming pool, and fantastic community recreation activities. Spanning an impressive, level 15,000 square foot parcel with 100 feet of wide street frontage, this property is a builder's dream. A conceptual 7-unit townhome project is currently under works, offering excellent potential for future development or a rewarding long-term investment. The current owner-developer has been busy on much larger projects, allowing a startup investor the chance to take over this asset along with extensive planning materials, unit configurations, and optimized bedroom layouts crafted specifically to maximize the buildable footprint. While you finalize your building goals, secure permits, or hold for appreciation, you can enjoy immediate, reliable cash flow from the existing rentable multiple residential units. The current mix consists of three bright 2-bedroom, 1-bathroom homes strategically configured as front, side, and top units, along with a shared laundry area for daily tenant convenience. The oversized lot also boasts an expansive backyard perfect for outdoor relaxation, a detached garage, a functional workshop, a separate storage room, and additional carport parking. Ideally located near the sought-after North Alhambra neighborhoods, just south of Alhambra Road and mere minutes from South Pasadena, this property seamlessly combines a prime foothill location with undeniable upside potential. This sale comes packed with all the previous hard work and layouts, letting the next owner hit the ground running.