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1960 Arnold Way 2 Unit Apartment Building $929,000 ($464,500/Unit) 4.08% Cap Rate Alpine, CA 91901
Investment Highlights
- Great Unit Mix
- Recent Upgrades - Remodeled Interiors, New Roof, New Windows
- Walking Distance to the Alpine Shopping Center
- 1991 Year Built
- Strong Rental Market
Executive Summary
1960 Arnold Way presents a rare duplex investment opportunity in the scenic community of Alpine, featuring two spacious 2-bedroom, 2-bathroom units with functional layouts, private backyards, and stackable washer/dryers in both units. The property includes a newer roof and updated windows, along with dedicated off-street parking and a modern footprint on a 6,743-square-foot parcel. Constructed in 1991, this well-maintained property offers strong tenant appeal and minimal deferred maintenance—ideal for an investor or an owner-user looking to occupy one unit and rent the other.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$56,400
|
$33.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,692
|
$1.01
|
| Effective Gross Income |
$54,708
|
$32.82
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$16,821
|
$10.09
|
| Net Operating Income |
$37,887
|
$22.73
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $56,400 |
| Annual Per SF | $33.83 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $1,692 |
| Annual Per SF | $1.01 |
| Effective Gross Income | |
|---|---|
| Annual | $54,708 |
| Annual Per SF | $32.82 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $16,821 |
| Annual Per SF | $10.09 |
| Net Operating Income | |
|---|---|
| Annual | $37,887 |
| Annual Per SF | $22.73 |
Property Facts
| Price | $929,000 | Apartment Style | Low-Rise |
| Price Per Unit | $464,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.08% | Building Size | 1,667 SF |
| Gross Rent Multiplier | 16.5 | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1991 |
| Property Subtype | Apartment | Parking Ratio | 2.4/1,000 SF |
| Zoning | C31 | ||
| Price | $929,000 |
| Price Per Unit | $464,500 |
| Sale Type | Investment |
| Cap Rate | 4.08% |
| Gross Rent Multiplier | 16.5 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 1,667 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1991 |
| Parking Ratio | 2.4/1,000 SF |
| Zoning | C31 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Refrigerator
- Range
- Yard
- Attic
- Dining Room
- Double Pane Windows
- Family Room
- Handrails
- Lawn
- Vinyl Flooring
- Large Bedrooms
Site Amenities
- Gas Range
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $1,950 | 833 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 403-220-45 | Improvements Assessment | $245,166 (2025) |
| Land Assessment | $186,632 (2025) | Total Assessment | $431,798 (2025) |
Property Taxes
Parcel Number
403-220-45
Land Assessment
$186,632 (2025)
Improvements Assessment
$245,166 (2025)
Total Assessment
$431,798 (2025)
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1960 Arnold Way
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