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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2424 Grand Ave Alhambra, CA 91801-1676

    • Apartment buildings
    • 6,552 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    May 21, 2024
    $2,950,000
    Value Estimations
    $2,950,000
    Show details
    Cap Rate Potential
    3.6%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-7766859
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2424 Grand Ave

    Year built
    1912
    Construction
    WOOD
    Lot size
    0.46 lot acres
    Property size
    6,552 SF
    Zone code
    ALRPD-CPD*
    Property type
    Apartment buildings
    APN
    5339-003-003
    APU
    5339003003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,950,000
      ML approach
      $2,950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,806,000
      Market price range: $897k - $2.81M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,085,000
      Current use
      RESTAURANT
      $4,265,000
      Change: +105% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,990,000
      Change: +91% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,030,000
      Change: +45% Conversion: Difficult
      MEDICAL BUILDING
      $2,980,000
      Change: +43% Conversion: Moderate
      RETAIL STORES
      $2,740,000
      Change: +32% Conversion: Difficult
      OFFICE BUILDING
      $2,185,000
      Change: +5% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,025,000
      Change: -3% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Alhambra
    County
    Los Angeles
    State
    California
    Longitude
    -118.151
    Latitude
    34.096
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $39,027
    $1,800,000
    $1,288,000
    $3,088,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,255,000
      5,800 SF

      123 Marguerita Ave

      APARTMENT HOUSE (5+ UNITS) • 5,800 SF
      123 Marguerita Ave, Alhambra, CA 91801-6909
      View Details
    • Value Estimation
      $1,535,000
      10,131 SF

      715 Chapel Ave

      APARTMENT HOUSE (5+ UNITS) • 10,131 SF
      715 Chapel Ave, Alhambra, CA 91801-4409
      View Details
    • Value Estimation
      $2,235,000
      12,098 SF

      805 Chapel Ave

      APARTMENT HOUSE (5+ UNITS) • 12,098 SF
      805 Chapel Ave, Alhambra, CA 91801-5801
      View Details
    • Value Estimation
      $8,125,000
      71,052 SF

      400 Chapel Ave

      APARTMENT HOUSE (5+ UNITS) • 71,052 SF
      400 Chapel Ave, Alhambra, CA 91801-6001
      View Details
    • Value Estimation
      $2,260,000
      16,320 SF

      733 Chapel Ave

      APARTMENT HOUSE (5+ UNITS) • 16,320 SF
      733 Chapel Ave, Alhambra, CA 91801-5842
      View Details
    • Value Estimation
      $995,000
      5,512 SF

      111 Chapel Ave

      APARTMENT HOUSE (5+ UNITS) • 5,512 SF
      111 Chapel Ave, Alhambra, CA 91801-3952
      View Details

    Similar Nearby for Sale

    • $718,000
      892 SF

      Luxurious Residences in Alhambra

      New mixed-use community with luxurious residences in the heart of Alhambra.
      168 S Monterey St, Alhambra, CA 91801
      View Details
    • $715,000
      892 SF

      Luxurious Residences in Alhambra Square

      New mixed-use community with modern elegance and high-end finishes.
      168 S Monterey St, Alhambra, CA 91801
      View Details
    • $935,000
      1,325 SF

      Luxurious Alhambra Residences For Sale

      New mixed-use community with luxurious residences in Alhambra.
      168 S Monterey St, Alhambra, CA 91801
      View Details
    • $1,290,000
      1,981 SF

      New Alhambra Mixed-Use Development

      New mixed-use development featuring residential townhomes and premium retail units.
      15 S Chapel Ave, Alhambra, CA 91801
      View Details
    • $1,698,000

      Alhambra Multifamily Value-Add

      4-Unit Bungalow, High ROI Potential
      312 Primrose Ave, Alhambra, CA 91801
      View Details
    • $1,400,000
      1,910 SF

      Luxurious Residences in Alhambra

      New mixed-use community with luxurious residences in the heart of Alhambra.
      168 S Monterey St, Alhambra, CA 91801
      View Details

    Similar Nearby for Lease

    • $2,600 /Mo

      North Alhambra Apartment with Garage

      Light-filled 2 bed, 2 bath unit near Story Park.
      336 N Chapel Ave, Alhambra, CA 91801
      View Details
    • $2,300 /Mo

      Renovated Apartment Near Amenities

      Newly renovated 2-bedroom apartment in a convenient location.
      1718 Vine St, Alhambra, CA 91801
      View Details
    • $2,600 /Mo

      Condo Near Alhambra Amenities

      Condo for rent near shopping, hospital, schools, and restaurants.
      1813 Pepper St, Alhambra, CA 91801
      View Details
    • $15 SF/Yr
      10,600 SF

      Alhambra Main Street Retail/Office

      Prime Alhambra location, two spaces available.
      31 Main St, Alhambra, CA 91801
      View Details
    • Contact for pricing

      Prime Retail/Office Space Available

      Highly visible retail or office space in a bustling area.
      529 W Main St, Alhambra, CA 91801
      View Details
    • $1.00 SF/Yr
      12,500 SF

      Alhambra Industrial Space Sublease

      Industrial space available for sublease in Alhambra, California.
      500-506 S Palm Ave, Alhambra, CA 91801
      View Details
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    2424 Grand Ave
    Alhambra, CA 91801-1676
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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