5-Unit Apartment
New
For Sale
$1,789,800
619 N Alameda Ave, Azusa, CA 91702
Updated rental units feature private laundry hookups, central air conditioning, and heating throughout the property.
Property Size5,212 SF
Days on Market3
Property Features for 619 N Alameda Ave
General Information
Standard status
Active
Size
5,212 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
5 x 2BR/2BA
Multifamily Units
5
Amenities
laundry hookups
central AC
central heating
Building Details
Building Size
5,212 SF
Year Built
1982
Units
5
Listing Agency:
(213) 479-2163
Listed By:
Richard Kim
(213) 479-2163
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 5:22AM
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 Richard Kim
Investment Insights
Based on property information with market context.
Built in 1982, this five-unit apartment property includes updated two-bedroom, two-bath residences. Each unit is equipped with full laundry hookups along with central air conditioning and heat, providing consistent in-unit climate control and laundry functionality.
The property is located at 619 N Alameda Ave in Azusa, with walkable access to the Azusa Metro station and downtown Azusa. Interstate 210 is also readily accessible. Recorded mobility scores include a Walk Score of 83, a Bike Score of 61, and a Transit Score of 41.
The property is located at 619 N Alameda Ave in Azusa, with walkable access to the Azusa Metro station and downtown Azusa. Interstate 210 is also readily accessible. Recorded mobility scores include a Walk Score of 83, a Bike Score of 61, and a Transit Score of 41.
Key Highlights
- Five‑unit apartment building in Azusa
- Updated 2 bed, 2 bath units
- Full laundry hookups in each unit
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
$83,865
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
4.69%
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%
$1,677,300
$1.7M
Cap Rate 7%
$1,198,071
$1.2M
Cap Rate 9%
$931,833
$931.8K
Market Conditions
NOI Build-Up for 5,212 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
$165.7K $31.80/SF
− Vacancy
−$13.3K −$2.54/SF
EGI
$152.5K $29.26/SF
− OpEx
−$68.6K −$13.17/SF
NOI
$83.9K $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%
$1,677,300
Cap Rate 7%
$1,198,071
Cap Rate 9%
$931,833
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,865 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.26M
NOI $195,334 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 91702, CA
62,328
Population
18,218
Households
3.4
Avg Household Size
34
Median Age
24%
College-Educated
78%
High-School Grad
65.0 sq mi
ZIP Area
959
Density / Sq Mi
$87,577
Median Household Income
$35,714
Median Earnings
$1,847
Median Rent
$604,600
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 - Updated rental units feature private laundry hookups, central air conditioning, and heating throughout the property.
Where is this apartment building located?
The property is located at 619 N Alameda Ave Azusa, CA.
What is the asking price?
The asking price for this property is $1,789,800.
What are key features of this property?
This property features: Five‑unit apartment building in Azusa; Updated 2 bed, 2 bath units; Full laundry hookups in each unit
