27-Unit Apartment
For Sale
$10,475,000
2101 Vine St, Alhambra, CA 91801
Fourteen residences have received extensive renovations, with central air conditioning and heat throughout the property.
Property Size26,886 SF
Lot Size0.69 Acres
Days on Market35
Property Features for 2101 Vine St
General Information
Standard status
Active
Size
26,886 SF
Net Rentable
26,886 SF
Total Parking Spaces
52
Elevators
Yes
Lot size
0.69 Acres
Property subtype
Multifamily
Units
Unit Mix
5 x 1BR/1BA, 13 x 2BR/1BA, 9 x 2BR/1.75BA
Multifamily Units
27
Additional Details
Highway Access
Yes
Amenities
on-site laundry facilities
central air conditioning and heat
27 Units in Prime Alhambra – Built in 1979 – No City Rent Control (Only Subject to AB 1482)
Excellent Unit Mix Consisting of Almost All Two-Bedroom Units
Some Units Feature Balconies; All Units Have Central Air Conditioning and Heat, Along with Spacious Floorplans
14 of 27 Units Extensively Renovated
52 Total Gated Parking Spaces
On-Site Laundry Facility and Elevator
Highly Walkable Alhambra Location with Convenient Access to Shopping, Dining and Everyday Services
Centrally Located Near Downtown Alhambra, South Pasadena and Pasadena, with Convenient Access to the I-10 Freeway and Downtown Los Angeles
Building Details
Building Size
26,886 SF
Year Built
1979
Units
27
Listing Agency:
Marcus & Millichap - Los Angeles
(818) 212-2784
Listed By:
Michael Sterman · License #License(s): CA: 01911703
(818) 212-2784
Source:
Marcusmillichap
Added: Jul 29
Changed: Aug 31
Last Checked: Sep 1 at 3:01PM
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 - Los Angeles
Investment Insights
Based on property information with market context.
Built in 1979, this 27-unit apartment community offers a mix of five one-bedroom/one-bath residences, thirteen two-bedroom/one-bath residences, and nine two-bedroom/1.75-bath residences. The property includes 26,886 square feet of rentable space on an approximately 30,017-square-foot lot, along with an elevator, on-site laundry, central air conditioning and heat, and 52 gated parking spaces. Fourteen units have been extensively renovated.
The property is located at 2101 Vine Street in Alhambra, near Downtown Alhambra, South Pasadena, and Pasadena. Shopping, dining, and daily conveniences are nearby, while access to the I-10 Freeway connects the property with Downtown Los Angeles and employment centers throughout the region. The property operates under California AB 1482 regulations and is not subject to local city rent control.
The property is located at 2101 Vine Street in Alhambra, near Downtown Alhambra, South Pasadena, and Pasadena. Shopping, dining, and daily conveniences are nearby, while access to the I-10 Freeway connects the property with Downtown Los Angeles and employment centers throughout the region. The property operates under California AB 1482 regulations and is not subject to local city rent control.
Key Highlights
- 27‑unit apartment property with 26,886 square feet of rentable space
- Unit mix includes 5 one‑bedroom/one‑bath, 13 two‑bedroom/one‑bath, and 9 two‑bedroom/1.75‑bath residences
- 52 gated parking spaces, an elevator, and on‑site laundry facilities
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
$432,617
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
4.13%
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%
$8,652,340
$8.7M
Cap Rate 7%
$6,180,243
$6.2M
Cap Rate 9%
$4,806,856
$4.8M
Market Conditions
NOI Build-Up for 26,886 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
$855.0K $31.80/SF
− Vacancy
−$68.4K −$2.54/SF
EGI
$786.6K $29.26/SF
− OpEx
−$354.0K −$13.17/SF
NOI
$432.6K $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%
$8,652,340
Cap Rate 7%
$6,180,243
Cap Rate 9%
$4,806,856
Alternative Uses
Best Use
Apartment 5plus
$6.18M
$5.41M – $7.21M
NOI $432,617 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.39M
$12.60M – $16.79M
NOI $1,007,626 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
27
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,211
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 - Fourteen residences have received extensive renovations, with central air conditioning and heat throughout the property.
Where is this apartment building located?
The property is located at 2101 Vine St Alhambra, CA.
What is the asking price?
The asking price for this property is $10,475,000.
What are key features of this property?
This property features: 27‑unit apartment property with 26,886 square feet of rentable space; Unit mix includes 5 one‑bedroom/one‑bath, 13 two‑bedroom/one‑bath, and 9 two‑bedroom/1.75‑bath residences; 52 gated parking spaces, an elevator, and on‑site laundry facilities
