3111 W Ramona Rd · Alhambra, CA 91803

$3,700,000

18 bd · 13.0 ba · 11,778 sqft · MultiFamily public records · 22 Days on market

Built 1954 0.26 ac lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +5.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Long-term ownership since 1974 presents the opportunity to acquire a well-maintained 13-unit apartment property located in the desirable Midwick Park / Alhambra Hills neighborhood of Alhambra. The property features an attractive unit mix, recent capital improvements including newer roof and electrical panels, 11 carports, on-site storage, and strong long-term tenancy. Excellent San Gabriel Valley location near Cal State LA, Downtown Alhambra amenities, and the I-10 Freeway. Approximately 10%+ rental upside with stable in-place income.

Key facts

• On-site storage
• Newer roof
• 0.26 acre lot

Tags

• RECENT CAPITAL IMPROVEMENTS
• NEWER ROOF
• NEWER ELECTRICAL PANELS
• ON-SITE STORAGE
• STRONG LONG-TERM TENANCY
• SAN GABRIEL VALLEY LOCATION

Property features AI

Finance

• Other: Property marketed As Is
• Financial info: Actual monthly rent total reported; Actual annual gross rent reported; Gross operating income reported; Net operating income reported; Total annual expenses reported; Cap rate reported; Gross rent multiplier reported; Vacancy rate reported; Listing terms: Cash
• HOA & community: 13 units in the complex

Exterior

• Parking: Carport; 11 total parking spaces
• Security: Gated community
• Utilities: Tenants pay electric and gas; Water heaters present
• Home design: Residential income property; Two-level building; Gated
• Construction: No additional structures on site
• Exterior features: Alley access

Interior

• Kitchen: Gas oven; Gas cooktop; Range/Oven; Refrigerator
• Bedrooms: One 1-bed units (8 units); Four 2-bed units (4 units); One 2-bed unit (1 unit)
• Bathrooms: 1 bath in 1-bed units; 1 bath in some 2-bed units; 1.5 baths in one 2-bed unit
• Heating & cooling: Ceiling fans for cooling; Wall unit cooling
• Interior features: Ceiling fan; Gated community
• Laundry & utility: On-site laundry area; Laundry income (operated as income source)

What this means for you Summary

Snapshot

• This is a 13 × 18-bed/13.0-bath units multifamily listed at $3.70M.

Deal economics

• At list price, monthly cash flow is $13k ($152k/yr) — positive. Per door: $977/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($44k rent vs $3.70M).
• Recommended offer: $3.64M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 1.8% in Alhambra — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Alhambra Unified (suburban): math 56% / reading 64% proficiency, ranked #262 of 1,400 in CA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-1.0%/yr); 39 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $43,897/mo this rent would consume 625% of the median local household income ($84k/yr) (locally 1540% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $26k of loan paydown is wiped out by about $111k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($3.64M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $3k; list at $3.70M implies a 123233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,644,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.71%
• DSCR: 1.65
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $79,250
• Equity at exit: $551,682

10-year hold

• IRR: 8.8%
• Equity multiple: 1.59×
• Total profit: $607,284
• Equity at exit: $319,908

Cash invested: $1,036,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 91803

• Rents YoY: -1.0%
• Active inventory: 39
• Price-to-rent: 91.3×

Monthly cashflow live

• Estimated rent: $43,897 medium
• Mortgage (P&I): −$19,403
• Tax from tax record: −$1,032 /mo · $12,381/yr
• Insurance: −$1,542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,218
• Net cashflow: $12,702

Break-even live

Break-even rent $27,818

Max offer price $3,700,000

Occupancy floor 66%

Sensitivity live

Price	-10% $14,797	-5% $13,749	+0% $12,702	+5% $11,655	+10% $10,608
Rent	-10% $9,234	-5% $10,968	+0% $12,702	+5% $14,436	+10% $16,170
Rate	-1.0pp $14,565	-0.5pp $13,643	base $12,702	+0.5pp $11,743	+1.0pp $10,768

13-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 13× units	18	13	$43,901
Total (13 units)			$43,897

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $925,000
• Closing costs: $111,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $3,700,000 Active 22 DOM
2. 2026-06-17
   days on market $3,700,000 Active 21 DOM
3. 2026-06-16
   days on market $3,700,000 Active 20 DOM
4. 2026-06-15
   days on market $3,700,000 Active 19 DOM
5. 2026-06-13
   days on market $3,700,000 Active 17 DOM
6. 2026-06-13
   days on market $3,700,000 Active 16 DOM
7. 2026-06-09
   days on market $3,700,000 Active 13 DOM
8. 2026-06-08
   days on market $3,700,000 Active 12 DOM
9. 2026-06-07
   days on market $3,700,000 Active 11 DOM
10. 2026-06-04
    days on market $3,700,000 Active 8 DOM
11. 2026-06-03
    days on market $3,700,000 Active 7 DOM
12. 2026-06-02
    days on market $3,700,000 Active 6 DOM
13. 2026-06-01
    days on market $3,700,000 Active 5 DOM
14. 2026-05-31
    days on market $3,700,000 Active 4 DOM
15. 2026-05-27
    listed $3,700,000 Active
16. 2024-09-25
    historical $1,495
17. 2024-09-05
    listed $1,495
18. 2024-01-20
    historical $2,095
19. 2024-01-04
    listed $2,095
20. 1999-10-05
    soldstatus $3,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $12,381 · $1,032/mo
• Projected year-2 tax: $28,120 · $2,343/mo
• Expected delta: +$15,739/yr (+$1,312/mo · 127.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $526,764
• − Mortgage interest: −$207,258
• − Property taxes: −$12,381
• − Insurance: −$18,500
• − Repairs & maintenance: −$42,141
• − Management: −$42,141
• − Depreciation: −$107,636
• Taxable income: $96,707
• Est. tax owed @ 24.0%: −$23,210
• After-tax cash flow: $129,215/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Alhambra Unified
• NCES district ID: 0600153
• Math proficiency: 56% ▲ 1.00%
• Reading proficiency: 64% ▲ 1.00%
• Median HH income: $53,271
• Composite: 52.99/100
• National rank: #3253
• State rank: #262 of 1400 in CA

Livability — Alhambra

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Alhambra, CA
• County: Los Angeles County · 9,444,647 people
• City population: 81,096
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 27,715
• Household income: $84,311
• Rent vs Own: 51.6% rent · 48.4% own
• Severe rent burden: 1540.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Asian 50% Hispanic / Latino 39% Two or more races 14% White 7% Black 2%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Slovak 1% Lithuanian 0%
• Foreign-born: 47% · China, Canada, Vietnam
• Languages at home: 29% English-only · Chinese 32% Spanish 27% Vietnamese 3%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1044.70%
• Current HPI: 430.896
• Rent YoY: ▼ -0.98%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+123233.3% since first listed

6 events — show timeline

• 2026-05-27 Listed $3,700,000 TheMLS
• 2024-09-25 Rental Removed $1,495 RENTALBEAST
• 2024-09-05 Listed for Rent $1,495 RENTALBEAST
• 2024-01-20 Rental Removed $2,095 APPFOLIO
• 2024-01-04 Listed for Rent $2,095 APPFOLIO
• 1999-10-05 Sold (Public Records) $3,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $12,381 · +3.3% YoY. Source: county tax records.