Nine-Unit Multifamily Investment
For Sale
$2,398,888
2005 S Stoneman, Alhambra, CA 91801
Two contiguous buildings totaling nine units with individually metered utilities and shared on-site laundry.
Property Size5,363 SF
Lot Size0.26 Acres
Price / SF$447.30
Days on Market146
Property Features for 2005 S Stoneman
General Information
Standard status
Active
Size
5,363 SF
Total Parking Spaces
10
Lot size
0.26 Acres
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
9
Amenities
on-site laundry room
wall-unit air conditioning
double-pane windows
individual gas and electric meters
separate hot water heaters
Building Details
Building Size
5,363 SF
Year Built
1960
Listing Agency:
MARCUS & MILLICHAP
(909) 456-3400
Listed By:
Douglas McCauley · License #01941403
Source:
Velocityrealtysd
Added: Mar 31
Changed: Aug 23
Last Checked: Aug 22 at 4:05AM
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 MARCUS & MILLICHAP
Investment Insights
Based on property information with market context.
This multifamily offering consists of two contiguous parcels with a combined building area of 5,363 square feet and a total of nine units. Built in 1960, the property includes a two-story fourplex at 2005 South Stoneman Avenue and a two-story five-unit complex at 2007 South Stoneman Avenue.
2005 South Stoneman Avenue features four one-bedroom, one-bathroom floor plans with carport parking. 2007 South Stoneman Avenue offers four one-bedroom, one-bathroom floor plans and one two-bedroom, one-bathroom unit, along with tuck-under parking. Both buildings have pitched roofs, covered stairwells to upstairs units, and a shared on-site laundry room with one washer and one dryer.
Additional supported features include selected unit upgrades with new double-pane windows, wall-unit air conditioning in all units, individually metered gas and electricity, and separate hot water heaters for each unit. The property is positioned just south of the Interstate 10 Freeway and east of the Garfield Avenue on/off ramp, within a quiet residential area of mostly single-family homes.
2005 South Stoneman Avenue features four one-bedroom, one-bathroom floor plans with carport parking. 2007 South Stoneman Avenue offers four one-bedroom, one-bathroom floor plans and one two-bedroom, one-bathroom unit, along with tuck-under parking. Both buildings have pitched roofs, covered stairwells to upstairs units, and a shared on-site laundry room with one washer and one dryer.
Additional supported features include selected unit upgrades with new double-pane windows, wall-unit air conditioning in all units, individually metered gas and electricity, and separate hot water heaters for each unit. The property is positioned just south of the Interstate 10 Freeway and east of the Garfield Avenue on/off ramp, within a quiet residential area of mostly single-family homes.
Key Highlights
- 9‑unit multifamily on two contiguous parcels totaling 0.26 acres (11,346 SF) with 5,363 SF combined building area
- 2005 S Stoneman Ave: two‑story fourplex with four 1BD/1BA units and four carport parking spaces
- 2007 S Stoneman Ave: two‑story 5‑unit complex with four 1BD/1BA units and one 2BD/1BA unit plus six tuck‑under parking spaces
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
$86,295
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
3.60%
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%
$1,725,900
$1.7M
Cap Rate 7%
$1,232,786
$1.2M
Cap Rate 9%
$958,833
$958.8K
Market Conditions
NOI Build-Up for 5,363 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
$170.5K $31.80/SF
− Vacancy
−$13.6K −$2.54/SF
EGI
$156.9K $29.26/SF
− OpEx
−$70.6K −$13.17/SF
NOI
$86.3K $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%
$1,725,900
Cap Rate 7%
$1,232,786
Cap Rate 9%
$958,833
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,295 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,993 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,218
Businesses Nearby
Explore this area
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
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 - Two contiguous buildings totaling nine units with individually metered utilities and shared on-site laundry.
Where is this apartment building located?
The property is located at 2005 S Stoneman Alhambra, CA.
What is the asking price?
The asking price for this property is $2,398,888.
What are key features of this property?
This property features: 9‑unit multifamily on two contiguous parcels totaling 0.26 acres (11,346 SF) with 5,363 SF combined building area; 2005 S Stoneman Ave: two‑story fourplex with four 1BD/1BA units and four carport parking spaces; 2007 S Stoneman Ave: two‑story 5‑unit complex with four 1BD/1BA units and one 2BD/1BA unit plus six tuck‑under parking spaces
