7-Unit Apartment
2064 Meridian, South Pasadena, CA 91030
For Sale
$2,980,000
The property includes a mix of one- and two-bedroom apartments, shared laundry, and covered parking.
Property Size5,573 SF
Price / SF$534.72
Days on Market183
Property Features for 2064 Meridian
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Tenant in Place
Amenities
in house laundry room
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Partners Plus Realty Inc.
Listed By:
Pierre Khabbaz · License CA #01889199
(323) 855-5001
Source:
Bedrockrealestategroup
Added: May 11
Changed: Nov 6
Last Checked: Nov 9 at 3:27PM
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 Partners Plus Realty Inc.
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Investment Insights
Based on property information with market context.
This 7-unit apartment property was built in 1964 and contains 5,573 square feet. Six apartments have two bedrooms and one bathroom; the remaining unit has one bedroom and one bathroom. Residents have access to an on-site laundry room, eight carports, and a separate one-car garage.
The building is at 2064 Meridian in South Pasadena, near Mission Street, the Gold Line, cafes, and markets. The property is within the South Pasadena school district.
The building is at 2064 Meridian in South Pasadena, near Mission Street, the Gold Line, cafes, and markets. The property is within the South Pasadena school district.
Key Highlights
- 7 apartments: six with 2 bedrooms and 1 bathroom, plus one with 1 bedroom and 1 bathroom
- 5,573 square feet; built in 1964
- Eight carports and a one‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,674
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,793,480
$1.8M
Cap Rate 7%
$1,281,057
$1.3M
Cap Rate 9%
$996,378
$996.4K
Market Conditions
NOI Build-Up for 5,573 SF
Gross rent
$177.2K $31.80/SF
− Vacancy
−$14.2K −$2.54/SF
EGI
$163.0K $29.26/SF
− OpEx
−$73.4K −$13.17/SF
NOI
$89.7K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,793,480
Cap Rate 7%
$1,281,057
Cap Rate 9%
$996,378
Alternative Uses
Best Use
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,674 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.98M
$2.61M – $3.48M
NOI $208,863 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
730
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
$1,545,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles County, CA
Properties on Market for Apartment buildings in Los Angeles County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes a mix of one- and two-bedroom apartments, shared laundry, and covered parking.
Where is this apartment building located?
The property is located at 2064 Meridian South Pasadena, CA.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: 7 apartments: six with 2 bedrooms and 1 bathroom, plus one with 1 bedroom and 1 bathroom; 5,573 square feet; built in 1964; Eight carports and a one‑car garage
