30 N FIRST STREET, Alhambra, CA 91801
- $6,425,000
- List Price
- $6,425,000
- Price Change
- ▼ $400,000 1780399918
- Status
- ACTIVE
- MLS#
- CV26077738
- Year Built
- 1956
- Lot Size
- 24,393
- Acres
- 0.56
- Lot Location
- 36-40 Units/Acre, Front Yard
- Days on Market
- 108
- Property Type
- Commercial
- 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.
Additional Information
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Roof
- Tile
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 36
Listing courtesy of Listing Agent: Lisa Pimentel (LISAMARIEPSELLSHOMES@GMAIL.COM) from Listing Office: CENTURY 21 CITRUS REALTY INC.
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