601 - Alhambra Homes with Multi Family Subtype

Welcome to Alhambra, California, a vibrant city nestled in the heart of Los Angeles County. Known for its rich cultural heritage, Alhambra boasts a diverse community that reflects the best of Southern California living. With its charming neighborhoods, excellent schools, and a plethora of dining and shopping options, Alhambra is a hidden gem that attracts families, young professionals, and investors alike.

One of the standout features of Alhambra’s real estate market is its array of multi-family homes. These properties offer a unique opportunity for both homeowners and investors looking to capitalize on the thriving rental market. Multi-family homes in Alhambra range from cozy duplexes to larger apartment complexes, catering to a variety of lifestyles and budgets. This makes it an ideal locale for those seeking to live in one unit while renting out the others, creating a steady income stream.

Alhambra’s multi-family homes are often situated in prime locations, providing easy access to public transportation, parks, and local amenities. The city is known for its walkability, with many residents enjoying leisurely strolls to nearby cafes, shops, and entertainment venues. The community spirit is palpable, with numerous events and festivals held throughout the year, fostering connections among neighbors.

Whether you’re looking to invest in a multi-family property or find a place to call home, Alhambra offers a welcoming atmosphere and promising opportunities. Explore the charm of Alhambra, where community meets convenience, and discover the perfect multi-family home for your needs!

Newest 601 - Alhambra Homes with Multi Family Subtype

$6,425,000

CV26166315 MLS ⋅ Active Status ⋅ Burke Apartments BLDG.

36-Unit Downtown Alhambra Asset Positioned for Immediate NOI Expansion via Lease-Up and Expense Normalization. The Property is transitioning from a 2025 operational reset into stabilized performance following strategic capital improvements and lease-up activity. In 2025, the Property had a vacancy rate of 25.89% and generated $238,588 in Net Operating Income, yielding a cap rate of 3.29%. Current occupancy is 94%. Based on current occupancy, the pro forma cap rate is 5.01%. As of April 1, 2026, the vacancy has been reduced to 2 units, reflecting strong leasing momentum and improving cash flow. One unit is currently configured as office space, with the option to convert to a 1-bedroom ( allow the buyer to choose). Property has 26.5 off-street covered parking spaces (0.5 is designated motorcycle parking); on-street parking is available from the city for $70 per year per space. On-site laundry facilities provided, machines provided by WASH. WASH maintains the machines and pays the owner a percentage of the monthly revenue. 3 washing machines, 3 dryers are on the property.

30 N FIRST STREET, Alhambra

$2,100,000

OC26007472 MLS ⋅ Active Status

Huge Price Improvement! Seven-Unit Craftsman - Individual separate Cottage units in a garden style Community on sixteen thousand SF Lot (1/3 of and acre) – in the desirable area of Alhambra that is central to South Pasadena, San Marino and San Gabriel. Rare opportunity to acquire a seven-unit, single-story cottage-style multifamily property located in the historic city of Alhambra. Built in 1928, the property features individual standalone Craftsman-style units, offering timeless charm and strong tenant appeal. The property is fully leased, providing immediate income. For investors focused on preservation and value enhancement, the property may qualify for Mills Act historical tax abatement, potentially resulting in significant property tax savings and expedited permitting through the City of Alhambra (Need to verify). Situated on an expansive fat lot, the property also offers future redevelopment potential, including condominiums and/or higher-density multifamily (need to verify zoning and feasibility). Ideal for investors seeking stable cash flow, long-term appreciation, and multiple exit strategies in a highly desirable Alhambra location.

201 N Atlantic Boulevard, Alhambra

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.