16-Unit Apartment Building with Gated
1818 Ramona South Pasadena, CA 91030
1818 Ramona, South Pasadena, CA, 91030
Contact for pricing
For Sale
Contact for pricing
16-unit, 3-story apartment community with secured entry and gated parking, with 12 units updated.
Property Size19,997 SF
Lot Size0.38 Acres
Price / SF$345.05
Days on Market93
Property Features for 1818 Ramona
General Information
- Standard status
- Active
- Size
- 19,997 SF
- Lot size
- 0.38 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1968
Listing agency
Growth Investment Group
(626) 224-2495
Listed by
Handoko Chen · License #CA 01749321
Source
Crexi
Added: Apr 22 Updated: Jul 22 at 3:56PM Checked: Jul 22 at 3:56PM
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 Growth Investment Group
Investment Insights
Based on property information with market context.
Offered for the first time by the original builder, this 16-unit, 3-story apartment community was built in 1968 and has been exceptionally well-maintained. The property includes a secured entrance, gated parking, and landscaping with a welcoming entry foyer area complete with seating. A total of 12 units have been updated, supporting a value-add positioning while maintaining the building’s existing residential income framework.
The building sits on a large 16,436 SF R3-zoned lot in South Pasadena, CA. The San Rafael at 1818 Ramona Ave is described as a generational asset in a South Pasadena neighborhood with no local rent control, and it is within the South Pasadena Unified School District.
Unit mix includes two (2) 2-bedroom units with 2.5 baths and den, ten (10) 2-bedroom units with 2 baths, and four (4) large 1-bedroom units with 1.25 baths. The offering is noted to feature unusually large, house-like floor plans, with 2-bedroom units averaging approximately 1,200–1,400 SF and 1-bedroom units averaging approximately 850–900 SF.
The building sits on a large 16,436 SF R3-zoned lot in South Pasadena, CA. The San Rafael at 1818 Ramona Ave is described as a generational asset in a South Pasadena neighborhood with no local rent control, and it is within the South Pasadena Unified School District.
Unit mix includes two (2) 2-bedroom units with 2.5 baths and den, ten (10) 2-bedroom units with 2 baths, and four (4) large 1-bedroom units with 1.25 baths. The offering is noted to feature unusually large, house-like floor plans, with 2-bedroom units averaging approximately 1,200–1,400 SF and 1-bedroom units averaging approximately 850–900 SF.
Key Highlights
- 16‑unit, 3‑story apartment community built in 1968 with secured entrance and gated parking
- R3‑zoned 16,436 SF lot with approximately 20,000 SF of building space
- Unit mix includes 2 units: 2BD + 2.5BA + den; 10 units: 2BD + 2BA; 4 units: 1BD + 1.25BA
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $635.9k | $31.80 |
| − Vacancy | −$50.9k | −$2.54 |
| EGI | $585.0k | $29.26 |
| − OpEx | −$263.3k | −$13.17 |
| NOI | $321.8k | $16.09 |
19,997 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.60M
$4.02M – $5.36M
NOI $321,768 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.71M
$9.37M – $12.49M
NOI $749,442 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 16-unit, 3-story apartment community with secured entry and gated parking, with 12 units updated.
Where is this apartment building located?
The property is located at 1818 Ramona South Pasadena, CA.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: 16‑unit, 3‑story apartment community built in 1968 with secured entrance and gated parking; R3‑zoned 16,436 SF lot with approximately 20,000 SF of building space; Unit mix includes 2 units: 2BD + 2.5BA + den; 10 units: 2BD + 2BA; 4 units: 1BD + 1.25BA
