Seven-Unit Craftsman Cottage
For Sale
$2,100,000
201 Atlantic Boulevard, Alhambra, CA 91801
Seven standalone single-story Craftsman cottage units in a garden-style community, built in 1928 and fully leased.
Property Size5,100 SF
Price / SF$411.76
Days on Market233
Property Features for 201 Atlantic Boulevard
General Information
Standard status
Active
Size
5,100 SF
Property subtype
General Commercial
Amenities
3
10 Parking Spaces. Carport.
Garden/Lawn, Greenbelt
Garden. Greenbelt.
Building Details
Year Built
1928
Listing Agency:
(949) 707-4400
Listed By:
Regency Real Estate Brokers
Source:
Xome
Added: Dec 21, 2025
Changed: Aug 10
Last Checked: Aug 11 at 5:38AM
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 Regency Real Estate Brokers
Investment Insights
Based on property information with market context.
A seven-unit Craftsman cottage-style multifamily property featuring individual, standalone single-story units within a garden-style community setting. Built in 1928, the property consists of seven separate cottage units and is reported to be fully leased, creating immediate income at acquisition.
The property is located at 201 N Atlantic Boulevard in Alhambra, positioned centrally to South Pasadena, San Marino, and San Gabriel. The community sits on an approximately 16,000-square-foot lot (about one-third of an acre).
This is a straightforward, single-building multifamily asset with seven individual units and a long-established Craftsman-era character.
The property is located at 201 N Atlantic Boulevard in Alhambra, positioned centrally to South Pasadena, San Marino, and San Gabriel. The community sits on an approximately 16,000-square-foot lot (about one-third of an acre).
This is a straightforward, single-building multifamily asset with seven individual units and a long-established Craftsman-era character.
Key Highlights
- Seven‑unit Craftsman‑style multifamily with individual, standalone single‑story cottage units
- Built in 1928 and set in a garden‑style community
- 16,000 SF lot (about 1/3 acre)
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
$82,063
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
3.91%
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%
$1,641,260
$1.6M
Cap Rate 7%
$1,172,329
$1.2M
Cap Rate 9%
$911,811
$911.8K
Market Conditions
NOI Build-Up for 5,100 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
$162.2K $31.80/SF
− Vacancy
−$13.0K −$2.54/SF
EGI
$149.2K $29.26/SF
− OpEx
−$67.1K −$13.17/SF
NOI
$82.1K $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%
$1,641,260
Cap Rate 7%
$1,172,329
Cap Rate 9%
$911,811
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,063 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,136 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
787
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 - Seven standalone single-story Craftsman cottage units in a garden-style community, built in 1928 and fully leased.
Where is this apartment building located?
The property is located at 201 Atlantic Boulevard Alhambra, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Seven‑unit Craftsman‑style multifamily with individual, standalone single‑story cottage units; Built in 1928 and set in a garden‑style community; 16,000 SF lot (about 1/3 acre)
