Live-Work Loft Condo with
For Sale
$799,999
120-1010 Sycamore Ave, South Pasadena, CA 91030
Industrial-style loft with high ceilings, central HVAC, and secured parking for live-work or client-facing office use.
Property Size1,150 SF
Price / SF$695.65
Days on Market151
Property Features for 120-1010 Sycamore Ave
General Information
Standard status
Active
Size
1,150 SF
Total Parking Spaces
2
Additional Details
Highway Access
Yes
Clear Height
24 ft
Listing Agency:
OLENA MILLER REAL ESTATE
(909) 725-0854
Listed By:
Olena Miller
(909) 725-0854
Source:
Exprealty
Added: Mar 10
Changed: Jul 10
Last Checked: Aug 7 at 9:47AM
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 OLENA MILLER REAL ESTATE
Investment Insights
Based on property information with market context.
Industrial-style live-work loft condo offers an open-concept layout with 24-foot ceilings designed for flexible everyday use. The unit includes a galley-style kitchen with stainless steel appliances, a client-ready waiting area, and multiple built-in storage options. A large closet features an included washer/dryer, with additional storage closets throughout. Updates include a newly installed light gray epoxy flooring throughout the unit, a refreshed bathroom with fully retiled finishes, new cabinets and counter/sink/toilet components, and a shower door, along with updated window coverings and closet/laundry closet door updates. Central air/heat supports year-round comfort.
The complex is set at a historic location and includes a large Art Deco lobby area and landscaped grounds. A secured entry system provides controlled access. The unit also benefits from large windows that bring in natural light, with views referenced toward a Zen garden setting within the property. Parking is provided via a large secured parking lot with two parking spaces, plus nearby visitor parking for guests.
This setup is well suited for professionals who want one space to support both work and personal use. The combination of open loft planning, client waiting area, upgraded interior finishes, and on-site secured parking can fit creative studios, small businesses, and consulting-style office operations that benefit from a distinctive, loft-like environment.
The complex is set at a historic location and includes a large Art Deco lobby area and landscaped grounds. A secured entry system provides controlled access. The unit also benefits from large windows that bring in natural light, with views referenced toward a Zen garden setting within the property. Parking is provided via a large secured parking lot with two parking spaces, plus nearby visitor parking for guests.
This setup is well suited for professionals who want one space to support both work and personal use. The combination of open loft planning, client waiting area, upgraded interior finishes, and on-site secured parking can fit creative studios, small businesses, and consulting-style office operations that benefit from a distinctive, loft-like environment.
Key Highlights
- Industrial‑style 1,150 sq ft loft with high 24 ft ceilings and an open‑concept layout
- Live‑and/or‑work setup with secure entry and a client/guest waiting area
- Central air/heat, large windows for natural light, and stainless steel appliances
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
$25,138
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
3.14%
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%
$502,760
$502.8K
Cap Rate 7%
$359,114
$359.1K
Cap Rate 9%
$279,311
$279.3K
Market Conditions
NOI Build-Up for 1,150 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
$44.2K $38.40/SF
− Vacancy
−$10.6K −$9.25/SF
EGI
$33.5K $29.15/SF
− OpEx
−$8.4K −$7.29/SF
NOI
$25.1K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
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%
$502,760
Cap Rate 7%
$359,114
Cap Rate 9%
$279,311
Alternative Uses
Best Use
Office B
$359.1K
$314.2K – $419.0K
NOI $25,138 @ 7.0% cap · market cap 3.14%
Second Best
Mixed Use
$332.7K
$291.1K – $388.1K
NOI $23,288 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$615.7K
$538.7K – $718.3K
NOI $43,099 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
716
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Industrial-style loft with high ceilings, central HVAC, and secured parking for live-work or client-facing office use.
Where is this live-work space located?
The property is located at 120-1010 Sycamore Ave South Pasadena, CA.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Industrial‑style 1,150 sq ft loft with high 24 ft ceilings and an open‑concept layout; Live‑and/or‑work setup with secure entry and a client/guest waiting area; Central air/heat, large windows for natural light, and stainless steel appliances
