Four-Unit Multifamily
New
For Sale
$1,399,900
224 S Almansor, Alhambra, CA 91801
Corner-positioned residential income property with separate gas and electric metering for each unit.
Property Size2,824 SF
Days on Market6
Property Features for 224 S Almansor
General Information
Standard status
Active
Size
2,824 SF
Property subtype
Investment
Building Details
Building Size
2,824 SF
Year Built
1938
Units
4
Listed By:
JASON WEI · License #1912873
(626) 678-7009
Source:
Elliman
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 26 at 10:56AM
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 JASON WEI
Investment Insights
Based on property information with market context.
This four-unit multifamily property was built in 1938 and has separate gas and electric meters serving each unit. The configuration includes four distinct residential units and may accommodate an owner-occupant alongside rental units, as described in the property information.
The property is positioned at the corner of Almansor Street and East Commonwealth in Alhambra, within the Alhambra Unified School District. Alhambra Park, Almansor Golf Course, and the local YMCA are one block away. Main Street’s shopping, dining, and commercial offerings, along with local markets, banks, and a 24 Hour Fitness, are within walking distance. The area records a walk score of 81, a bike score of 51, and a transit score of 37.
The property is positioned at the corner of Almansor Street and East Commonwealth in Alhambra, within the Alhambra Unified School District. Alhambra Park, Almansor Golf Course, and the local YMCA are one block away. Main Street’s shopping, dining, and commercial offerings, along with local markets, banks, and a 24 Hour Fitness, are within walking distance. The area records a walk score of 81, a bike score of 51, and a transit score of 37.
Key Highlights
- Four‑unit multifamily property built in 1938
- Separate gas and electric meters for all 4 units
- Corner location at Almansor Street and East Commonwealth
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
$49,317
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
3.52%
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%
$986,340
$986.3K
Cap Rate 7%
$704,529
$704.5K
Cap Rate 9%
$547,967
$548.0K
Market Conditions
NOI Build-Up for 2,824 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
$76.2K $27.00/SF
− Vacancy
−$5.8K −$2.05/SF
EGI
$70.5K $24.95/SF
− OpEx
−$21.1K −$7.48/SF
NOI
$49.3K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$986,340
Cap Rate 7%
$704,529
Cap Rate 9%
$547,967
Alternative Uses
Best Use
Multifamily LT 5
$704.5K
$616.5K – $822.0K
NOI $49,317 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$649.1K
$568.0K – $757.3K
NOI $45,440 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,837 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,119
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Corner-positioned residential income property with separate gas and electric metering for each unit.
Where is this quadplex located?
The property is located at 224 S Almansor Alhambra, CA.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: Four‑unit multifamily property built in 1938; Separate gas and electric meters for all 4 units; Corner location at Almansor Street and East Commonwealth
