20-Unit Courtyard Apartment
New
For Sale
$6,000,000
1010 S Atlantic Blvd, Alhambra, CA 91803
Alhambra multifamily property with varied unit layouts, on-site parking, laundry facilities, and an enclosed garage.
Property Size19,612 SF
Price / SF$305.94
Days on Market3
Property Features for 1010 S Atlantic Blvd
General Information
Standard status
Active
Size
19,612 SF
Total Parking Spaces
39
Property subtype
Multi-Family
Units
Unit Mix
5 x 3BR/1.5BA, 4 x 2BR/1.5BA, 8 x 2BR/1BA, 2 x 1BR/1BA, 1 x studio
Multifamily Units
20
Additional Details
Cap Rate
5%
Public Transit
Yes
Amenities
on-site laundry room
fountain water feature
Building Details
Year Built
1968
Construction
courtyard-style
Listing Agency:
(310) 686-9361
Listed By:
Accardo Real Estate Associates - AREA
(310) 686-9361
Source:
Naylorproperties
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 2:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Accardo Real Estate Associates - AREA
Investment Insights
Based on property information with market context.
Built in 1968, this 19,612-square-foot apartment property at 1010 S Atlantic Blvd includes 20 units arranged around a central courtyard. The unit mix comprises 5 three-bedroom/1.5-bath units, 4 two-bedroom/1.5-bath units, 8 two-bedroom/1-bath units, 2 one-bedroom/1-bath units, and 1 studio. Property amenities include a fountain, on-site laundry room, 37 parking spaces, and an enclosed 2-car garage that may serve as parking or storage. Seismic retrofitting of the tuck-under soft-story parking area has been completed.
The property is in Alhambra, north of Valley Blvd, with access to nearby shopping, dining, transit, and major employment centers. The asset has an approximately 5% cap rate based on solid in-place rents. It is not subject to city-specific rent control laws and falls under California AB1482 rent guidelines and limitations.
The property is in Alhambra, north of Valley Blvd, with access to nearby shopping, dining, transit, and major employment centers. The asset has an approximately 5% cap rate based on solid in-place rents. It is not subject to city-specific rent control laws and falls under California AB1482 rent guidelines and limitations.
Key Highlights
- 20 units with a mix of 1‑bedroom, 2‑bedroom, 3‑bedroom, and studio layouts
- 19,612 SF apartment property built in 1968
- 37 on‑site parking spaces plus an enclosed 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$315,573
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,311,460
$6.3M
Cap Rate 7%
$4,508,186
$4.5M
Cap Rate 9%
$3,506,367
$3.5M
Market Conditions
NOI Build-Up for 19,612 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$623.7K $31.80/SF
− Vacancy
−$49.9K −$2.54/SF
EGI
$573.8K $29.26/SF
− OpEx
−$258.2K −$13.17/SF
NOI
$315.6K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,311,460
Cap Rate 7%
$4,508,186
Cap Rate 9%
$3,506,367
Alternative Uses
Best Use
Apartment 5plus
$4.51M
$3.94M – $5.26M
NOI $315,573 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.50M
$9.19M – $12.25M
NOI $735,013 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
1,685
Businesses Nearby
Explore this area
Business Placement
Demographics for 91803, CA
29,374
Population
10,439
Households
2.8
Avg Household Size
42
Median Age
37%
College-Educated
80%
High-School Grad
3.3 sq mi
ZIP Area
8,901
Density / Sq Mi
$84,537
Median Household Income
$47,579
Median Earnings
$1,790
Median Rent
$831,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Alhambra multifamily property with varied unit layouts, on-site parking, laundry facilities, and an enclosed garage.
Where is this apartment building located?
The property is located at 1010 S Atlantic Blvd Alhambra, CA.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 20 units with a mix of 1‑bedroom, 2‑bedroom, 3‑bedroom, and studio layouts; 19,612 SF apartment property built in 1968; 37 on‑site parking spaces plus an enclosed 2‑car garage
