318 Palmetto
Alhambra, CA, 91801
$1,088,000
MLS: WS26084963
Beds
4
Baths
3
Sq Ft
1,790
Lot
0.14 ac
Year Built
1923
MLS #
WS26084963
Days on Market
1
Listed
Apr 20, 2026
Description
VACANT MAY 1ST | 3BR FRONT HOME DELIVERED EMPTY. Rare opportunity for an owner-user or savvy "house-hacker" to move in immediately! This versatile corner-lot duplex is perfectly situated close to the heart of Downtown Alhambra, offering premier access to the city's vibrant dining, entertainment, and shopping district. The property features two distinct identities with private street addresses and independent utility meters (Gas/Electric): 318 Palmetto Dr (3BR/2BA - Vacant 5/1) and 808 S 4th St (1BR/1BA - MTM). Both residences have been well-maintained, featuring clean kitchens, updated countertops, and solid flooring throughout. DEVELOPMENT POTENTIAL: Property carries the prestigious ALRPD* (Residential Planned Development) designation, supporting high-density upside. The detached 2-car garage is a premier candidate for a 2026-compliant ADU conversion, offering a clear path to a high-yield 3-unit compound. Whether you choose to live in the spacious front home while collecting rent from the rear, or hold as a pure high-density investment, the value is undeniable. Sold “As-Is”. Buyer to independently verify all zoning, permits, and development potential with the City of Alhambra. Please do not disturb tenants; showings reserved for pre-qualified buyers. Note: Hero image has been digitally enhanced for twilight lighting per AB 723; original daylight photo follows in media sequence.
Location
Alhambra, Los Angeles County, CA 91801
Open on Google Maps ↗Listed by: CHUONG THAI · eXp Realty of California Inc
Payment estimate
$7,858
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $108,800 · Loan: $979,200
- Principal & Interest
- $6,016
- Property tax (1.25%)
- $1,133
- Homeowners insurance
- $300
- Mortgage insurance
- $408
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Apr 23, 2026
- 30-year fixed
- 6.23%
- 15-year fixed
- 5.58%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Alhambra home with as little as 3.5% down using an FHA loan — roughly $38,080 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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