$4,680,000

Attention Builders and Investors! A unique opportunity presents itself with this expansive lot, nearly 18,000 square feet, located in the prime area of downtown Alhambra. This property falls within the RESIDENTIAL HIGH DENSITY ZONE, ALLOWING THE CONSTRUCTION OF UP TO 64 UNITS PER ACRE WITH HEIGHT OF UP TO 75 FEET AND UP TO 6 STORIES. Its prime location offers walking distance convenience to the Edwards movie theater, numerous restaurants, and shops along the main street of downtown Alhambra, all while being situated in a peaceful neighborhood. Easy access to the 10 Freeway, Costco, and Home Depot. Currently, the site hosts two buildings. The front house at 209 Monterey features 2 bedrooms and 1 bathroom, while the back house, labeled 209 1/2, contains two units, each with 1 bedroom and 1 bathroom. Both are occupied by tenants. Prospective buyers are encouraged to verify all pertinent information, including zoning and building codes, with the Alhambra Community Development Department or other departments to ensure it meets their specific requirements. Investors, seize this rare gem in Alhambra—lease now with the potential to build more in the future. Seller is motivated. Almost land value ONLY. Looking forward to showing you this exceptional property soon.

Listing Map