36-Unit Multifamily Asset in Alhambra

30 N FIRST St, Alhambra, CA 91801

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For Sale

$7,250,000

Downtown Alhambra property with immediate NOI expansion potential.

Type:Commercial

HighLights

Immediate NOI expansion opportunity through lease‑up and expense normalization.
High walk score of 93, a 'Walker's Paradise' location.
Current occupancy at 94% with only 2 vacant units.
Pro forma cap rate of 5.01% based on current occupancy.
26.5 off‑street covered parking spaces available.
On‑site laundry facilities provided and maintained by WASH.

We can help!

Listing Contact

Lisa Pimentel

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For Sale

$7,250,000

Downtown Alhambra property with immediate NOI expansion potential.

Type:Commercial

Added:: Apr 12, 2026
Days on Market:: 70
Last Refresh:: Apr 12 at 5:57 am

Property Features for 30 N FIRST St

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 1956

We can help!

Listing Contact

Lisa Pimentel

Listing agent Lisa Pimentel License #01745013

Listing office Century 21 Citrus Realty, INC

Listing date Apr 12, 2026

Source Elliman

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 Century 21 Citrus Realty, INC

HighLights

Immediate NOI expansion opportunity through lease‑up and expense normalization.
High walk score of 93, a 'Walker's Paradise' location.
Current occupancy at 94% with only 2 vacant units.
Pro forma cap rate of 5.01% based on current occupancy.
26.5 off‑street covered parking spaces available.
On‑site laundry facilities provided and maintained by WASH.

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. Transitioning from a 2025 operational reset, the property is moving towards stabilized performance following strategic capital improvements and lease-up activity. In 2025, the property had a 25.89% vacancy rate and generated $238,588 in Net Operating Income, yielding a 3.29% cap rate. The current occupancy is 94%, with a pro forma cap rate of 5.01% based on this occupancy. As of April 1, 2026, the vacancy has been reduced to 2 units. One unit is currently configured as office space but has the option to convert to a 1-bedroom unit. The property includes 26.5 off-street covered parking spaces, with 0.5 spaces 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 has a bike score of 49, indicating it is somewhat bikeable, a walk score of 93, indicating it is a walker's paradise, and a transit score of 48, indicating some transit options are available.

Location Intelligence

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Apartment buildings

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Local Demand

City: Alhambra
County: Los Angeles
State: California
Longitude: -118.1282615
Latitude: 34.0957543

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For sale
Apartment buildings
CA
Alhambra
91801
30 N FIRST St

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 St Alhambra, CA.

What is the asking price?

The asking price for this property is $7,250,000.

What are key features of this property?

This property features: Immediate NOI expansion opportunity through lease‑up and expense normalization.; High walk score of 93, a 'Walker's Paradise' location.; Current occupancy at 94% with only 2 vacant units.