Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    36-Unit Alhambra Multifamily Asset Title is generated by Realmo AI

    30 N FIRST STREET, Alhambra, CA 91801

    View on Map
    Claim this Listing
    For Sale
    $6,425,000

    Commercial Sale - Alhambra, CA

    Property size:
    13,875 SF
    Price / SF:
    $463/SF
    Added:
    Apr 10, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 3 at 1:06 am

    Property Features for 30 N FIRST STREET

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    5337019022
    Size
    13,875 SF

    Utilities

    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1956
    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa Pimentel
    Lisa Pimentel

    Listing agent Lisa Pimentel License #01745013

    Listing office CENTURY 21 CITRUS REALTY INC 1100 Via Verde, San Dimas,CA, CA

    Listing date Apr 10, 2026

    MLS# CV26077738 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High current occupancy rate of 94%, indicating strong tenant demand.
    • Significant NOI expansion potential through lease‑up of remaining units and expense normalization.
    • Demonstrated improvement in vacancy rate from 25.89% in 2025 to only 2 units vacant as of April 1, 2026.
    • Pro forma cap rate of 5.01% based on current occupancy.
    • Option to convert existing office space into a 1‑bedroom unit.
    • 26.5 off‑street covered parking spaces available.

    Overview

    This 36-unit multifamily property is located in downtown Alhambra. The property is positioned for immediate Net Operating Income (NOI) expansion through 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%. The current occupancy is 94%, and based on this, the pro forma cap rate is 5.01%. As of April 1, 2026, the vacancy has been reduced to 2 units. One unit is currently configured as office space, with the option to convert it to a 1-bedroom unit. The property features 26.5 off-street covered parking spaces, with 0.5 designated for motorcycle parking. On-street parking is available from the city for $70 per year per space. On-site laundry facilities are provided, with machines maintained by WASH, who pays the owner a percentage of the monthly revenue. There are 3 washing machines and 3 dryers on the property. The property size is 13,875 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alhambra
    County
    Los Angeles
    State
    California
    Longitude
    -118.1282615
    Latitude
    34.0957543

    Nearby Similar for Sale

    • $3,500,000
      7,894 SF

      Alhambra Multi-Tenant Office Building

      Two-story office building with 36 suites in Alhambra, CA.
      205 S Chapel Avenue, Alhambra, CA 91801
      View Details
    • $1,388,000
      1,199 SF

      Alhambra Duplex with Game Room

      Dual-living property featuring new construction and remodeled home with game room.
      1607 Westmont Drive, Alhambra, CA 91083
      View Details
    • $2,580,000
      7,112 SF

      Alhambra Apartment Building Opportunity

      Two four-plex buildings near Downtown LA and Cal State LA.
      2205 W Ramona Road, Alhambra, CA 91803
      View Details
    • $520,000

      Established Preschool Business Opportunity

      Reputable dual-language, Montessori-inspired preschool in Alhambra with over 20 years.
      2401 W Valley, Alhambra, CA 91803
      View Details
    • $1,790,000
      3,060 SF

      Alhambra Quadruplex with Rental Upside

      Four units with income potential in a desirable location.
      2306 W Alhambra Road, Alhambra, CA 91801
      View Details
    • $4,250,000
      23,514 SF

      Alhambra Industrial Property For Sale

      Established industrial property in San Gabriel Valley, ideal for owner-user.
      1121 S Meridian Avenue, Alhambra, CA 91803
      View Details
    • $1,799,000
      4,422 SF

      Alhambra Multifamily Investment Opportunity

      Five-unit property in a desirable Alhambra location with transit connectivity.
      1342 Edgewood, Alhambra, CA 91803
      View Details
    • $2,100,000
      5,394 SF

      Alhambra 6-Unit Multifamily Property

      Desirable 6-unit property in a prime Alhambra location.
      716 S Chapel Avenue, Alhambra, CA 91801
      View Details
    • $200,000

      Turnkey Restaurant in Alhambra

      Well-established restaurant for sale in Alhambra, CA.
      11 W Main Street, Alhambra, CA 91801
      View Details
    • $350,000

      Alhambra Lawn Mower Business

      Lawn mower retail and service business for sale in Alhambra.
      Alhambra, CA 91803
      View Details
    • $1,850,000
      6,050 SF

      Alhambra Commercial Investment Opportunity

      Fully occupied commercial property in Alhambra with strong income potential.
      2428 W Valley Boulevard, Alhambra, CA 91803
      View Details
    • $885,000
      636 SF

      Corner Property Auto Service Building

      Auto service building on a corner lot near Downtown LA.
      3000 W Main St, Alhambra, CA 91801
      View Details

    FAQs

    What type of property is this?
    Apartment building - Downtown Alhambra property with immediate NOI expansion potential.
    Where is this apartment building located?
    The property is located at 30 N FIRST STREET Alhambra, CA.
    What is the asking price?
    The asking price for this property is $6,425,000.
    What are key features of this property?
    This property features: High current occupancy rate of 94%, indicating strong tenant demand.; Significant NOI expansion potential through lease‑up of remaining units and expense normalization.; Demonstrated improvement in vacancy rate from 25.89% in 2025 to only 2 units vacant as of April 1, 2026.
    (626) 391-2149
    We can help!
    Listing Contact
    Lisa Pimentel
    Lisa Pimentel
    Real Estate License ID: 01745013
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    30 N FIRST STREET, Alhambra, CA 91801
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!