Duplex with Detached
For Sale
$799,000
1039 Grevelia ST, South Pasadena, CA 91030
Two separate residences offer flexible space for extended household use or rental occupancy near Mission Street amenities.
Property Size1,448 SF
Days on Market84
Property Features for 1039 Grevelia ST
General Information
Standard status
Active
Size
1,448 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
2
Building Details
Building Size
1,448 SF
Year Built
2026
Buildings
2
Listing Agency:
Keller Williams Realty
(626) 657-0359
Listed By:
David Knight · License #01829234
Source:
Milsteinestates
Added: Jun 9
Changed: Aug 31
Last Checked: Aug 31 at 12:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This South Pasadena duplex includes two separate residences on a corner lot. The home at 1039 Grevelia Street offers two bedrooms, one bathroom, living and dining areas, a rear-positioned kitchen with backyard access, front and rear yards, and a detached garage. A fence separates the second residence at 1037 Grevelia Street, which also provides two bedrooms and one bathroom, along with a covered front porch, wood shingle siding, and a large backyard.
The property is located near Mission Street, with cafes, restaurants, boutiques, and other local amenities within the surrounding area. Built in 2026, the duplex provides two residential layouts within one property and includes outdoor areas associated with each residence.
The property is located near Mission Street, with cafes, restaurants, boutiques, and other local amenities within the surrounding area. Built in 2026, the duplex provides two residential layouts within one property and includes outdoor areas associated with each residence.
Key Highlights
- Two separate residences at 1039 and 1037 Grevelia Street
- Each residence includes 2 bedrooms and 1 bathroom
- Corner‑lot property with front and rear yards
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,287
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$505,740
$505.7K
Cap Rate 7%
$361,243
$361.2K
Cap Rate 9%
$280,967
$281.0K
Market Conditions
NOI Build-Up for 1,448 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.1K $27.00/SF
− Vacancy
−$3.0K −$2.05/SF
EGI
$36.1K $24.95/SF
− OpEx
−$10.8K −$7.48/SF
NOI
$25.3K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$505,740
Cap Rate 7%
$361,243
Cap Rate 9%
$280,967
Alternative Uses
Best Use
Multifamily LT 5
$361.2K
$316.1K – $421.5K
NOI $25,287 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$332.8K
$291.2K – $388.3K
NOI $23,299 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$775.3K
$678.4K – $904.5K
NOI $54,268 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,810
Businesses Nearby
Explore this area
Business Placement
Demographics for 91030, CA
26,927
Population
11,040
Households
2.4
Avg Household Size
41
Median Age
73%
College-Educated
97%
High-School Grad
3.4 sq mi
ZIP Area
7,920
Density / Sq Mi
$128,105
Median Household Income
$79,571
Median Earnings
$2,218
Median Rent
$1,545,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer flexible space for extended household use or rental occupancy near Mission Street amenities.
Where is this duplex located?
The property is located at 1039 Grevelia ST South Pasadena, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two separate residences at 1039 and 1037 Grevelia Street; Each residence includes 2 bedrooms and 1 bathroom; Corner‑lot property with front and rear yards
