6-Unit Apartment
New
For Sale
$2,680,000
1512 S 3rd Street, Alhambra, CA 91803
All six residences are occupied, with long-term tenants and central A/C systems.
Property Size7,061 SF
Days on Market3
Property Features for 1512 S 3rd Street
General Information
Standard status
Active
Size
7,061 SF
Property subtype
Apartment
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Building Details
Building Size
7,061 SF
Year Built
1979
Listing Agency:
Pinnacle Real Estate Group
Listed By:
Jason Guo · License #01279792
Source:
Archetyperealty
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 2:17PM
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 Pinnacle Real Estate Group
Investment Insights
Based on property information with market context.
This 1979 apartment property contains six units, most of which have been remodeled. Building improvements include a roof replacement in 2018 and central A/C systems. The property is fully occupied, with long-term tenants in place.
The site is half a block from the Valley Boulevard and Garfield Avenue corridor. Restaurants, shops, banks, public transportation, and schools are nearby, and freeway access connects the property with Downtown Los Angeles, USC Health Sciences Campus, and Cal State LA.
The site is half a block from the Valley Boulevard and Garfield Avenue corridor. Restaurants, shops, banks, public transportation, and schools are nearby, and freeway access connects the property with Downtown Los Angeles, USC Health Sciences Campus, and Cal State LA.
Key Highlights
- Six apartment units; all are currently occupied by long‑term tenants
- Most units have been remodeled
- Roof replaced in 2018
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
$113,617
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
4.24%
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%
$2,272,340
$2.3M
Cap Rate 7%
$1,623,100
$1.6M
Cap Rate 9%
$1,262,411
$1.3M
Market Conditions
NOI Build-Up for 7,061 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
$224.5K $31.80/SF
− Vacancy
−$18.0K −$2.54/SF
EGI
$206.6K $29.26/SF
− OpEx
−$93.0K −$13.17/SF
NOI
$113.6K $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%
$2,272,340
Cap Rate 7%
$1,623,100
Cap Rate 9%
$1,262,411
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,617 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,630 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,477
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - All six residences are occupied, with long-term tenants and central A/C systems.
Where is this apartment building located?
The property is located at 1512 S 3rd Street Alhambra, CA.
What is the asking price?
The asking price for this property is $2,680,000.
What are key features of this property?
This property features: Six apartment units; all are currently occupied by long‑term tenants; Most units have been remodeled; Roof replaced in 2018
