Alhambra (601) Homes with Multi Family Subtype

Welcome to Alhambra, California—a vibrant city nestled in the heart of Los Angeles County, where rich history meets modern living. Known for its diverse community and charming neighborhoods, Alhambra offers an inviting atmosphere that appeals to families, young professionals, and investors alike. With its strategic location just a stone's throw from downtown Los Angeles, residents enjoy easy access to a plethora of cultural attractions, dining options, and recreational activities.

For those considering a savvy investment or a multi-generational living arrangement, Alhambra is home to a variety of multi-family properties that cater to your needs. These homes not only provide ample living space but also offer the potential for rental income, making them an attractive option for investors looking to capitalize on the thriving rental market. With well-maintained buildings and a range of architectural styles, from classic craftsman to modern duplexes, there’s something for everyone in this dynamic area.

Living in a multi-family home in Alhambra means being part of a close-knit community, where neighbors become friends and local businesses thrive. Enjoy weekends exploring the local parks, indulging in delicious cuisine from around the world, or visiting the historic Alhambra Theatre. Whether you're seeking a place to call home or an investment opportunity with great potential, Alhambra's multi-family properties are a perfect choice. Experience the charm of Alhambra and discover the possibilities that await in this delightful city!

Newest Alhambra (601) Homes with Multi Family Subtype

$6,425,000

CV26077738 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

Start Your Search

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.