CBRE Brokers $4.8 Million All-Cash Sale of 36-Unit Multifamily Property in Downtown Alhambra
CBRE has arranged the $4.8 million all-cash sale of a 36-unit multifamily property in downtown Alhambra, California, with Eric Chen and Blake Torgerson representing the buyer in the transaction.
The property, comprising three contiguous buildings at 30-32, 34-36 and 100-102 North 1st Street, sold for $133,229 per unit and $346 per square foot. The buyer, Woodward Grand LP, acquired the asset from Gertrude G. Burke, Trustee of the Talmage V. Burke & Gertrude G. Burke Trust dated Feb. 28, 1995, Burke Family Trust & Marital Trust.
Property Details and Deal Structure
Built in 1956, the Alhambra Apartments total approximately 13,875 square feet of building area on a 24,394-square-foot lot. The three-building complex offers a mix of studio and one-bedroom floor plans and includes on-site laundry facilities along with covered and uncovered parking.
The all-cash transaction structure allowed the deal to close without debt contingencies. The seller, a family trust with roots in a 1995 trust agreement, represents the type of long-term private ownership that has historically held mid-century vintage apartment stock across the San Gabriel Valley.
At $133,229 per unit, the Alhambra Apartments traded well below the Greater Los Angeles multifamily market average of approximately $308,551 per unit recorded in the second quarter of 2026 — a gap consistent with the property's 1950s vintage, smaller unit sizes, and Class B/C profile in a San Gabriel Valley submarket where pricing trails Westside and core urban Los Angeles assets.
Location and Value-Add Positioning
The property sits in a walkable section of downtown Alhambra near the Main Street corridor, offering tenants access to retail, restaurants, and public services. The site also provides convenient connections to Interstates 10 and 710 and State Route 110, linking residents to downtown Los Angeles, Pasadena, and the broader Los Angeles Basin.
For Woodward Grand LP, the acquisition adds a multifamily asset in one of the San Gabriel Valley's established infill submarkets. The combination of mid-century vintage construction, smaller unit sizes, and long-term family ownership is consistent with a value-add investment profile — one in which rents may lag market rates and operational improvements can support future revenue growth.
"Downtown Alhambra continues to attract investors seeking well-located multifamily assets with opportunities to enhance value through operational improvements and future rent growth," said Chen, Executive Vice President at CBRE. "This property's walkable location, diverse unit mix and proximity to major employment centers made it an attractive acquisition for our client, and we were pleased to help facilitate a smooth and successful closing."
Greater Los Angeles Multifamily Market Context
The transaction reflects broader investor appetite for infill apartment assets across the Los Angeles region. The Greater Los Angeles multifamily market continues to benefit from long-term housing demand and limited supply across many infill submarkets, with investors focused on well-located properties that offer revenue growth potential and operational upside — particularly in transit-accessible communities.
Vacancy across the metro sits in the mid-4% to mid-5% range, while cap rates for Class B/C infill multifamily have drifted into the mid-5% range in 2026, with metro averages between approximately 5.37% and 5.8% depending on asset class and submarket. Against that backdrop, the Alhambra deal's below-market price per unit and all-cash structure position Woodward Grand LP to pursue a value-add strategy without the immediate pressure of debt service.
Small-to-mid-size infill apartment buildings of the type represented by the Alhambra Apartments have drawn consistent investor interest across Los Angeles as buyers seek assets where operational improvements and interior upgrades can support rent growth in supply-constrained neighborhoods.
About the Brokers
Eric Chen and Blake Torgerson, both with CBRE, represented Woodward Grand LP in the acquisition. Chen serves as Executive Vice President at the firm.
Sources: CBRE Press Release