About 204 S Olive Avenue
RIA and Compass are pleased to offer for sale a rare offering of a multi-family property with bungalow style units on a large 18,895 SF lot on a quiet residential street. The property was purchased decades ago as eight rental units and continued to operate at eight, but the county records show seven units on the site. Buyer to perform their own diligence on the one non-conforming unit. Featuring spacious, standalone home type units that are all 2Bed+1bath on a large lot yielding the future potential for a redevelopment. At the rear are eight enclosed garages and open parking that accommodate eight vehicles. Solid in place rents offer an investor nearly a 5% cap with great upside and excellent desirability amongst other apartment units. Situated in a sought-after Alhambra location near shopping, dining, transit, and major employment centers, the property benefits from consistent rental demand and strong market fundamentals. There are no city specific rent control laws and benefits from falling under California AB1482 rent guidelines/limitations. This is a rare opportunity to acquire unique rental units on a very large lot in one of the San Gabriel Valley's most reliable rental markets. Email for OM package or call with specific questions. PLEASE DO NOT DISTURB ANY TENANTS.
Features of 204 S Olive Avenue
| MLS® # | 26648997 |
|---|---|
| Price | $2,300,000 |
| Sold Price | $2,428,000 |
| Bedrooms | 14 |
| Bathrooms | 7.00 |
| Square Footage | 7,158 |
| Lot Sqft | 18,901 |
| Acres | 0.43 |
| Year Built | 1929 |
| Type | Residential Income |
| Status | Closed |
| # Of Units | 7 |
Community Information
| Address | 204 S Olive Avenue |
|---|---|
| Area | 601 - Alhambra |
| City | Alhambra |
| County | Los Angeles |
| Zip Code | 91801 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
| Stories | Two |
Additional Information
| Date Listed | February 7th, 2026 |
|---|---|
| Date Sold | March 2nd, 2026 |
| Days on Market | 15 |
| Zoning | ALRPD* |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Alexander Metaxas |
|---|---|
| Office | Realty Investment Advisors, Inc. |