
No Local Rent Control | Prime Alhambra | 920 N 1st
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No Local Rent Control | Prime Alhambra 920 N 1st Immeuble residentiel 16 lots 4 511 360 € (281 960 €/Lot) Taux de capitalisation 4,60 % Alhambra, CA 91801



INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT
- Not Subject to Local Rent Control – Higher Allowable Rent Increases
- Prime North Alhambra Location on Border of San Marino and South Pasadena
- Attractive CAP Rate and GRM Compared to Similar Recent Sales
- Excellent Value-Add Opportunity – Current Rents Approximately 21% Below Market Rates
- Not on Seismic Retrofit List (Buyer to Verify)
- Rental Market Boosted by Strong Barrier to Local Homeownership – Median Single-Family Home Value in Alhambra Exceeds $1,000,000
RÉSUMÉ ANALYTIQUE
Marcus & Millichap is pleased to announce the opportunity to purchase 920 North 1st Street in Alhambra, CA. Situated just two blocks south of the affluent cities of San Marino and South Pasadena, the property benefits from its location in one of the most attractive rental submarkets of the West San Gabriel Valley. Because the property is not subject to local rent control, an investor can increase rents by a greater amount each year, when compared with multifamily investments in Los Angeles and other local cities. With current rents approximately 21% below those of similar neighboring properties, a new owner may be able to add significant value while improving the building’s cash flow substantially.
Constructed in 1959, the two-story structure surrounds a well-landscaped, quiet courtyard atop a 14,706-square foot lot. The property has been meticulously maintained throughout its ownership, while select units have been renovated with new hardwood floors, new kitchen cabinets, and new ceiling fans. The gated complex includes eight security cameras, several of which are trained on the 16 covered parking spaces. The landlord-owned laundry facilities add an additional revenue stream. The separate gas and electricity meters, pitched roofs, and partial copper plumbing should help to reduce future expenses.
Located near the corner of Huntington Drive and Los Robles Avenue, the building sits just across the border from both San Marino and South Pasadena. Being within walking distance of Ralph’s, In-N-Out Burger, and the new $130 million Alhambra Place Shopping Center helps to attract tenants. Median home values have increased by 40% since 2020, resulting in increased demand for rental units as residents are priced out of homeownership now that the median single-family home is valued above $1,000,000. Apartment demand in the area is also elevated due to the fact that Alhambra has only added 540 units over the past 30 years. This amount of new development is up to 10 times slower than other communities in the area, and the resulting demand for existing apartments is projected to exert sustained upwards pressure on local rents, benefitting apartment landlords. The property also sits just two miles from the 110 Freeway and two-and-a-half miles from the 10 Freeway, affording tenants convenient access to Downtown Los Angeles, Pasadena, and the rest of the San Gabriel Valley.
Constructed in 1959, the two-story structure surrounds a well-landscaped, quiet courtyard atop a 14,706-square foot lot. The property has been meticulously maintained throughout its ownership, while select units have been renovated with new hardwood floors, new kitchen cabinets, and new ceiling fans. The gated complex includes eight security cameras, several of which are trained on the 16 covered parking spaces. The landlord-owned laundry facilities add an additional revenue stream. The separate gas and electricity meters, pitched roofs, and partial copper plumbing should help to reduce future expenses.
Located near the corner of Huntington Drive and Los Robles Avenue, the building sits just across the border from both San Marino and South Pasadena. Being within walking distance of Ralph’s, In-N-Out Burger, and the new $130 million Alhambra Place Shopping Center helps to attract tenants. Median home values have increased by 40% since 2020, resulting in increased demand for rental units as residents are priced out of homeownership now that the median single-family home is valued above $1,000,000. Apartment demand in the area is also elevated due to the fact that Alhambra has only added 540 units over the past 30 years. This amount of new development is up to 10 times slower than other communities in the area, and the resulting demand for existing apartments is projected to exert sustained upwards pressure on local rents, benefitting apartment landlords. The property also sits just two miles from the 110 Freeway and two-and-a-half miles from the 10 Freeway, affording tenants convenient access to Downtown Los Angeles, Pasadena, and the rest of the San Gabriel Valley.
BILAN FINANCIER (RÉEL - 2024) Cliquez ici pour accéder à |
ANNUEL | ANNUEL PAR m² |
---|---|---|
Revenu de location brut |
$99,999
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$9.99
![]() |
Autres revenus |
$99,999
![]() |
$9.99
![]() |
Perte due à la vacance |
$99,999
![]() |
$9.99
![]() |
Revenu brut effectif |
$99,999
![]() |
$9.99
![]() |
Taxes |
$99,999
![]() |
$9.99
![]() |
Frais d’exploitation |
$99,999
![]() |
$9.99
![]() |
Total des frais |
$99,999
![]() |
$9.99
![]() |
Résultat net d’exploitation |
$99,999
![]() |
$9.99
![]() |
BILAN FINANCIER (RÉEL - 2024) Cliquez ici pour accéder à
Revenu de location brut | |
---|---|
Annuel | $99,999 |
Annuel par m² | $9.99 |
Autres revenus | |
---|---|
Annuel | $99,999 |
Annuel par m² | $9.99 |
Perte due à la vacance | |
---|---|
Annuel | $99,999 |
Annuel par m² | $9.99 |
Revenu brut effectif | |
---|---|
Annuel | $99,999 |
Annuel par m² | $9.99 |
Taxes | |
---|---|
Annuel | $99,999 |
Annuel par m² | $9.99 |
Frais d’exploitation | |
---|---|
Annuel | $99,999 |
Annuel par m² | $9.99 |
Total des frais | |
---|---|
Annuel | $99,999 |
Annuel par m² | $9.99 |
Résultat net d’exploitation | |
---|---|
Annuel | $99,999 |
Annuel par m² | $9.99 |
INFORMATIONS SUR L’IMMEUBLE
Prix | 4 511 360 € | Style d’appartement | De faible hauteur |
Prix par lot | 281 960 € | Classe d’immeuble | C |
Type de vente | Investissement | Surface du lot | 0,14 ha |
Taux de capitalisation | 4,60 % | Surface de l’immeuble | 1 014 m² |
Multiplicateur du loyer brut | 13.5 | Nb d’étages | 2 |
Nb de lots | 16 | Année de construction | 1959 |
Type de bien | Immeuble residentiel | Ratio de stationnement | 0,14/1 000 m² |
Sous-type de bien | Appartement | ||
Zonage | R3 |
Prix | 4 511 360 € |
Prix par lot | 281 960 € |
Type de vente | Investissement |
Taux de capitalisation | 4,60 % |
Multiplicateur du loyer brut | 13.5 |
Nb de lots | 16 |
Type de bien | Immeuble residentiel |
Sous-type de bien | Appartement |
Style d’appartement | De faible hauteur |
Classe d’immeuble | C |
Surface du lot | 0,14 ha |
Surface de l’immeuble | 1 014 m² |
Nb d’étages | 2 |
Année de construction | 1959 |
Ratio de stationnement | 0,14/1 000 m² |
Zonage | R3 |
LOT INFORMATIONS SUR LA COMBINAISON
DESCRIPTION | NB DE LOTS | MOY. LOYER/MOIS | m² |
---|---|---|---|
1+1 | 10 | 1 639 € | 51 |
2+1 | 6 | 2 000 € | 65 - 67 |
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Walk Score®
Très praticable à pied (79)
TAXES FONCIÈRES
Numéro de parcelle | 5321-020-021 | Évaluation totale | 3 855 754 € |
Évaluation du terrain | 2 513 161 € | Impôts annuels | -1 € (0,00 €/m²) |
Évaluation des aménagements | 1 342 594 € | Année d’imposition | 2024 |
TAXES FONCIÈRES
Numéro de parcelle
5321-020-021
Évaluation du terrain
2 513 161 €
Évaluation des aménagements
1 342 594 €
Évaluation totale
3 855 754 €
Impôts annuels
-1 € (0,00 €/m²)
Année d’imposition
2024
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No Local Rent Control | Prime Alhambra | 920 N 1st
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