5-Unit Apartment
For Sale
$2,595,000
241 S Curtis Avenue, Alhambra, CA 91801
Separately metered units support straightforward utility allocation across this multifamily property.
Property Size5,789 SF
Days on Market16
Property Features for 241 S Curtis Avenue
General Information
Standard status
Active
Size
5,789 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2.5BA, 1 x 2BR/2.5BA, 3 x 2BR/2BA
Multifamily Units
5
Building Details
Building Size
5,789 SF
Year Built
1979
Listing Agency:
TSE REALTY & MANAGEMENT SERVIC
Listed By:
YVONNE MATLOFF · License #00908463
(626) 823-8303
Source:
Velocityrealtysd
Added: Aug 18
Changed: Aug 22
Last Checked: Sep 1 at 11:57PM
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 TSE REALTY & MANAGEMENT SERVIC
Investment Insights
Based on property information with market context.
This five-unit apartment property, built in 1979, includes a front residence with four bedrooms, two and one-half baths, and a two-car garage. The remaining units comprise one two-bedroom, two and one-half bath layout and three two-bedroom, two-bath layouts. Reported unit sizes range from 886 SF to 1,498 SF. Electricity and gas are separately metered for each unit.
The property is located at 241 S Curtis Avenue in Alhambra, near Alhambra Shopping Plaza, Main Street, Costco, City Hall, schools, markets, and restaurants. Freeway 10 and Freeway 101 are accessible from the area. Alhambra does not have a local city rent control ordinance.
The property is located at 241 S Curtis Avenue in Alhambra, near Alhambra Shopping Plaza, Main Street, Costco, City Hall, schools, markets, and restaurants. Freeway 10 and Freeway 101 are accessible from the area. Alhambra does not have a local city rent control ordinance.
Key Highlights
- Five‑unit apartment complex with a 1979 construction year
- Front unit includes four bedrooms, two and one‑half baths, 1,498 SF, and a two‑car garage
- Unit mix includes one two‑bedroom, two and one‑half bath unit and three two‑bedroom, two‑bath units
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
$93,150
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
3.59%
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%
$1,863,000
$1.9M
Cap Rate 7%
$1,330,714
$1.3M
Cap Rate 9%
$1,035,000
$1.0M
Market Conditions
NOI Build-Up for 5,789 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
$184.1K $31.80/SF
− Vacancy
−$14.7K −$2.54/SF
EGI
$169.4K $29.26/SF
− OpEx
−$76.2K −$13.17/SF
NOI
$93.1K $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%
$1,863,000
Cap Rate 7%
$1,330,714
Cap Rate 9%
$1,035,000
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $93,150 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.71M – $3.62M
NOI $216,959 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,761
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Separately metered units support straightforward utility allocation across this multifamily property.
Where is this apartment building located?
The property is located at 241 S Curtis Avenue Alhambra, CA.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Five‑unit apartment complex with a 1979 construction year; Front unit includes four bedrooms, two and one‑half baths, 1,498 SF, and a two‑car garage; Unit mix includes one two‑bedroom, two and one‑half bath unit and three two‑bedroom, two‑bath units
