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2101 Vine St 27 Unit Apartment Building $10,750,000 ($398,148/Unit) 4.52% Cap Rate Alhambra, CA 91801
Executive Summary
The Sterman Multifamily Group of Marcus & Millichap is pleased to present 2101 Vine Street, a 27-unit apartment property located in the highly desirable City of Alhambra. Built in 1979, the property sits on an approximately 30,017 square foot lot with roughly 26,886 square feet of rentable space. The unit mix consists of five (5) one-bedroom/one-bath units, thirteen (13) two-bedroom/one-bath units, and nine (9) two-bedroom/1.75-bath units. The property features fifty-two (52) gated parking spaces, an elevator, on-site laundry facilities, central air conditioning and heat, and fourteen (14) extensively renovated units.
2101 Vine Street benefits from a highly walkable Alhambra location near a wide variety of shopping, dining, and everyday conveniences. The property is centrally located near Downtown Alhambra, South Pasadena, and Pasadena, with convenient access to the I-10 Freeway and Downtown Los Angeles, providing excellent connectivity to major employment centers throughout the region.
The property presents an attractive value-add opportunity with continued rental upside and is not subject to local city rent control, operating solely under California AB 1482 regulations. With its strong unit mix comprised primarily of two-bedroom units, extensive renovations, and desirable location, 2101 Vine Street offers investors the opportunity to acquire a well-maintained asset in one of the San Gabriel Valley’s most sought-after rental markets.
2101 Vine Street benefits from a highly walkable Alhambra location near a wide variety of shopping, dining, and everyday conveniences. The property is centrally located near Downtown Alhambra, South Pasadena, and Pasadena, with convenient access to the I-10 Freeway and Downtown Los Angeles, providing excellent connectivity to major employment centers throughout the region.
The property presents an attractive value-add opportunity with continued rental upside and is not subject to local city rent control, operating solely under California AB 1482 regulations. With its strong unit mix comprised primarily of two-bedroom units, extensive renovations, and desirable location, 2101 Vine Street offers investors the opportunity to acquire a well-maintained asset in one of the San Gabriel Valley’s most sought-after rental markets.
Property Facts
| Price | $10,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $398,148 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.69 AC |
| Cap Rate | 4.52% | Building Size | 26,886 SF |
| Gross Rent Multiplier | 13.33 | Average Occupancy | 96% |
| No. Units | 27 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 1.93/1,000 SF |
| Zoning | ALRPD* | ||
| Price | $10,750,000 |
| Price Per Unit | $398,148 |
| Sale Type | Investment |
| Cap Rate | 4.52% |
| Gross Rent Multiplier | 13.33 |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.69 AC |
| Building Size | 26,886 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1979 |
| Parking Ratio | 1.93/1,000 SF |
| Zoning | ALRPD* |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 750 |
| 2+1 | 13 | - | 1,000 |
| 2+2 | 9 | - | 1,100 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $5,472,500 | |
| Land Assessment | $2,545,000 | Total Assessment | $8,017,500 |
Property Taxes
Parcel Numbers
Land Assessment
$2,545,000
Improvements Assessment
$5,472,500
Total Assessment
$8,017,500
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2101 Vine St
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