$4,796,250
$5,200,000
7.8%For more information regarding the value of a property, please contact us for a free consultation.
30 N FIRST STREET Alhambra, CA 91801
0.56 Acres Lot
Key Details
Sold Price $4,796,250
Property Type Commercial
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV26166315
Sold Date 08/28/26
HOA Y/N No
Year Built 1956
Lot Size 0.560 Acres
Property Sub-Type Multi Family
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.
Location
State CA
County Los Angeles
Area 601 - Alhambra
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Laundry Room
Exterior
Fence None
Roof Type Tile
Present Use Multi-Family
Building
Lot Description 36-40 Units/Acre, Front Yard
Story 2
Water Public
Others
Tax ID 5337019022
Acceptable Financing Cash, 1031 Exchange
Listing Terms Cash, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Eric Chen CB RICHARD ELLIS