Historic Triplex with Three
For Sale
Contact for pricing
329 N Chapel Avenue, Alhambra, CA 91801
For sale 1924 triplex offering three separate units and triplex zoning in Alhambra.
Property Size2,111 SF
Lot Size0.18 Acres
Price / SF$521.08
Days on Market63
Property Features for 329 N Chapel Avenue
General Information
Standard status
Active
Size
2,111 SF
Lot size
0.18 Acres
Property subtype
Multifamily
Zoning
Public Rec
Additional Details
Multifamily Units
3
Building Details
Year Built
1924
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
Truth Realty
(661) 599-0432
Listed By:
Sherry Simpson · License #00757181
Source:
Crexi
Added: Jun 9
Changed: Aug 8
Last Checked: Jun 24 at 3:26AM
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 Truth Realty
Investment Insights
Based on property information with market context.
Built in 1924, this Alhambra triplex presents classic vintage character with three separate units under one ownership. The property totals 2,111 square feet of living space on a 7,839-square-foot lot, giving investors and owner-occupants a straightforward configuration for rental use or a house-hack strategy.
The location is described as walkable to Story Park across the street, with Almansor Park nearby for green space and walking paths. Main Street is also referenced in the remarks for retail, movie theaters, and local dining options.
With three units and triplex zoning, the property is designed for flexible occupancy and income generation. Comparable triplex sales cited in the remarks range from $825,000 to $1.5 million, offering context for buyers evaluating this type of asset in the area. For prospective owners, the combination of multi-unit layout and established neighborhood setting may be well suited to those seeking an income-oriented residential investment or partial owner occupancy.
The location is described as walkable to Story Park across the street, with Almansor Park nearby for green space and walking paths. Main Street is also referenced in the remarks for retail, movie theaters, and local dining options.
With three units and triplex zoning, the property is designed for flexible occupancy and income generation. Comparable triplex sales cited in the remarks range from $825,000 to $1.5 million, offering context for buyers evaluating this type of asset in the area. For prospective owners, the combination of multi-unit layout and established neighborhood setting may be well suited to those seeking an income-oriented residential investment or partial owner occupancy.
Key Highlights
- 1924 triplex at 329 N Chapel Avenue in Alhambra with three separate units
- 2,111 sq ft of living space on a 7,839 sq ft lot
- Triplex zoning supports a multi‑unit configuration with rental income potential
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
$36,866
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
3.35%
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%
$737,320
$737.3K
Cap Rate 7%
$526,657
$526.7K
Cap Rate 9%
$409,622
$409.6K
Market Conditions
NOI Build-Up for 2,111 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
$57.0K $27.00/SF
− Vacancy
−$4.3K −$2.05/SF
EGI
$52.7K $24.95/SF
− OpEx
−$15.8K −$7.48/SF
NOI
$36.9K $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%
$737,320
Cap Rate 7%
$526,657
Cap Rate 9%
$409,622
Alternative Uses
Best Use
Multifamily LT 5
$526.7K
$460.8K – $614.4K
NOI $36,866 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$485.3K
$424.6K – $566.1K
NOI $33,968 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$1.13M
$988.9K – $1.32M
NOI $79,115 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,963
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?
Triplex - For sale 1924 triplex offering three separate units and triplex zoning in Alhambra.
Where is this triplex located?
The property is located at 329 N Chapel Avenue Alhambra, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 1924 triplex at 329 N Chapel Avenue in Alhambra with three separate units; 2,111 sq ft of living space on a 7,839 sq ft lot; Triplex zoning supports a multi‑unit configuration with rental income potential
