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Listed by Lisa Pimentel • CENTURY 21 CITRUS REALTY INC
$ 6,425,000
Est. payment /mo
Price Dropped by $400K
Alhambra, CA 91801
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV-26077738
Year Built 1956
Property Sub-Type Multi Family
Source California Regional Multiple Listing Service (CRMLS)
Property Description
36-Unit Downtown Alhambra Asset Positioned for Immediate NOI Expansion via Lease-Up and Expense Normalization. The Property is transitioning from a 2025 operational reset into stabilized performance following strategic capital improvements and lease-up activity.
In 2025, the Property had a vacancy rate of 25.89% and generated $238,588 in Net Operating Income, yielding a cap rate of 3.29%. Current occupancy is 94%. Based on current occupancy, the pro forma cap rate is 5.01%.
As of April 1, 2026, the vacancy has been reduced to 2 units, reflecting strong leasing momentum and improving cash flow. One unit is currently configured as office space, with the option to convert to a 1-bedroom ( allow the buyer to choose).
Property has 26.5 off-street covered parking spaces (0.5 is designated motorcycle parking); on-street parking is available from the city for $70 per year per space.
On-site laundry facilities provided, machines provided by WASH. WASH maintains the machines and pays the owner a percentage of the monthly revenue. 3 washing machines, 3 dryers are on the property.
In 2025, the Property had a vacancy rate of 25.89% and generated $238,588 in Net Operating Income, yielding a cap rate of 3.29%. Current occupancy is 94%. Based on current occupancy, the pro forma cap rate is 5.01%.
As of April 1, 2026, the vacancy has been reduced to 2 units, reflecting strong leasing momentum and improving cash flow. One unit is currently configured as office space, with the option to convert to a 1-bedroom ( allow the buyer to choose).
Property has 26.5 off-street covered parking spaces (0.5 is designated motorcycle parking); on-street parking is available from the city for $70 per year per space.
On-site laundry facilities provided, machines provided by WASH. WASH maintains the machines and pays the owner a percentage of the monthly revenue. 3 washing machines, 3 dryers are on the property.
Location
State CA
County Los Angeles
Area 601 - Alhambra
Interior
Heating Wall Furnace
Laundry Individual Room
Building
Lot Description Lot 20000-39999 Sqft, Front Yard, 36-40 Units/Acre
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944