Garden-Style Multifamily
For Sale
$11,300,000
Pending
1620 Larch Street, Alhambra, CA 91801
For sale 40-unit campus on four two-story garden-style buildings, offering established residential scale in Alhambra.
Property Size31,880 SF
Lot Size1.27 Acres
Days on Market153
Property Features for 1620 Larch Street
General Information
Standard status
Pending
Size
31,880 SF
Lot size
1.27 Acres
Property subtype
Multifamily
Site & Location
Neighborhood
Sierra Vista
Additional Details
Multifamily Units
40
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
CBRE LA
Listed By:
Jenny Eng · License #01931251
(239) 631-8788
Source:
Cbre
Added: Jun 7
Changed: Oct 31
Last Checked: Nov 6 at 6:14AM
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 CBRE LA
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Investment Insights
Based on property information with market context.
Exclusively presented for sale is a 40-unit, campus-format multifamily property featuring four separate two-story, garden-style buildings. The buildings sit on a contiguous 1.27-acre site and are configured as an established residential community designed around multiple structures within a single property footprint.
The property is offered at 221 N Bushnell Avenue and 1620 Larch Street in Alhambra, California. With a multi-building layout on one contiguous parcel, the community provides an operator the benefit of centralized ownership while still separating units across individual buildings.
This asset may suit buyers seeking a larger-scale apartment investment with an existing operational setup. The four-building, garden-style format provides a straightforward property profile for underwriting and management planning, with the combined unit count supporting a multifamily approach rather than a single-building strategy.
The property is offered at 221 N Bushnell Avenue and 1620 Larch Street in Alhambra, California. With a multi-building layout on one contiguous parcel, the community provides an operator the benefit of centralized ownership while still separating units across individual buildings.
This asset may suit buyers seeking a larger-scale apartment investment with an existing operational setup. The four-building, garden-style format provides a straightforward property profile for underwriting and management planning, with the combined unit count supporting a multifamily approach rather than a single-building strategy.
Key Highlights
- 40‑unit campus‑format multifamily property in central Alhambra
- Four two‑story, garden‑style buildings on a contiguous 1.27‑acre site
- Property is described as having no local rent control
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$512,975
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,259,500
$10.3M
Cap Rate 7%
$7,328,214
$7.3M
Cap Rate 9%
$5,699,722
$5.7M
Market Conditions
NOI Build-Up for 31,880 SF
Gross rent
$1.01M $31.80/SF
− Vacancy
−$81.1K −$2.54/SF
EGI
$932.7K $29.26/SF
− OpEx
−$419.7K −$13.17/SF
NOI
$513.0K $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 Rate 5%
$10,259,500
Cap Rate 7%
$7,328,214
Cap Rate 9%
$5,699,722
Alternative Uses
Best Use
Apartment 5plus
$7.33M
$6.41M – $8.55M
NOI $512,975 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.07M
$14.93M – $19.91M
NOI $1,194,790 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
40
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,456
Businesses Nearby
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Business Placement
Demographics for 91801, CA
53,669
Population
21,702
Households
2.5
Avg Household Size
41
Median Age
41%
College-Educated
85%
High-School Grad
4.3 sq mi
ZIP Area
12,481
Density / Sq Mi
$85,549
Median Household Income
$47,855
Median Earnings
$1,879
Median Rent
$797,000
Median Home Value
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Market
Properties on Market for Apartment buildings in Alhambra
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - For sale 40-unit campus on four two-story garden-style buildings, offering established residential scale in Alhambra.
Where is this apartment building located?
The property is located at 1620 Larch Street Alhambra, CA.
What is the asking price?
The asking price for this property is $11,300,000.
What are key features of this property?
This property features: 40‑unit campus‑format multifamily property in central Alhambra; Four two‑story, garden‑style buildings on a contiguous 1.27‑acre site; Property is described as having no local rent control
