4-Unit Apartment
237 Del Monte Street, Pasadena, CA 91103
For Sale
$1,250,000
A fully leased Pasadena rental property offers a mix of one- and two-bedroom residences.
Property Size2,645 SF
Lot Size0.30 Acres
Price / SF$472.59
Days on Market54
Property Features for 237 Del Monte Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Net Operating Income
Site & Location
Neighborhood
Highway Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Amenities
Curbs, Sidewalks
Central Air
Carport
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Century 21 Valley Properties, Inc.
Listed By:
Shekhar Chikhalikar · License CA #02118273
(818) 714-1789
Source:
Evrealestate
Added: Sep 22
Changed: Nov 5
Last Checked: Nov 12 at 7:19AM
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 Century 21 Valley Properties, Inc.
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Investment Insights
Based on property information with market context.
Built in 1945, this four-unit residential property contains two two-bedroom apartments and two one-bedroom apartments across approximately 2,645 square feet. The building sits on a 13,268-square-foot lot and is fully leased. Updates include a substantial renovation to one apartment, refreshed lighting inside and out, new ceiling fans and mailboxes, fresh paint, and metal security doors. Dual-glazed windows and a composition roof installed in 2012 are also in place. The owner pays for water and trash service.
The property is near Lincoln Avenue and Fair Oaks Avenue, with access to Old Pasadena, the Rose Bowl, Pasadena City College, Caltech, and JPL. Dining, shopping, transit, and the 210 and 134 freeways are also in the surrounding area. The property is offered as-is.
The property is near Lincoln Avenue and Fair Oaks Avenue, with access to Old Pasadena, the Rose Bowl, Pasadena City College, Caltech, and JPL. Dining, shopping, transit, and the 210 and 134 freeways are also in the surrounding area. The property is offered as-is.
Key Highlights
- Four residential units: two 2‑bedroom apartments and two 1‑bedroom apartments
- Approximately 2,645 square feet on a 13,268‑square‑foot lot
- Fully leased to long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,191
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$923,820
$923.8K
Cap Rate 7%
$659,871
$659.9K
Cap Rate 9%
$513,233
$513.2K
Market Conditions
NOI Build-Up for 2,645 SF
Gross rent
$71.4K $27.00/SF
− Vacancy
−$5.4K −$2.05/SF
EGI
$66.0K $24.95/SF
− OpEx
−$19.8K −$7.48/SF
NOI
$46.2K $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 Rate 5%
$923,820
Cap Rate 7%
$659,871
Cap Rate 9%
$513,233
Alternative Uses
Best Use
Multifamily LT 5
$659.9K
$577.4K – $769.9K
NOI $46,191 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$608.0K
$532.0K – $709.3K
NOI $42,560 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$1.08M
$944.3K – $1.26M
NOI $75,541 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 91103, CA
26,887
Population
9,392
Households
2.9
Avg Household Size
39
Median Age
38%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
5,845
Density / Sq Mi
$84,683
Median Household Income
$43,591
Median Earnings
$1,925
Median Rent
$960,000
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Los Angeles County, CA
Properties on Market for Quadplexes in Los Angeles County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - A fully leased Pasadena rental property offers a mix of one- and two-bedroom residences.
Where is this quadplex located?
The property is located at 237 Del Monte Street Pasadena, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Four residential units: two 2‑bedroom apartments and two 1‑bedroom apartments; Approximately 2,645 square feet on a 13,268‑square‑foot lot; Fully leased to long‑term tenants
