South Pasadena Investment
For Sale
$2,200,000
500 Mound AVE, South Pasadena, CA 91030
Six-unit property in South Pasadena, near schools and amenities.
Property Size4,560 SF
Days on Market214
Property Features for 500 Mound AVE
General Information
Standard status
Active
Size
4,560 SF
Property subtype
MULTI_FAMILY
Building Details
Building Size
4,560 SF
Year Built
1921
Listing Agency:
Norm Haley Real Estate
Listed By:
Norman Haley · License #00528924
(626) 791-7000
Source:
Milsteinestates
Added: Feb 13
Changed: Sep 8
Last Checked: Sep 15 at 9:14AM
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 Norm Haley Real Estate
Investment Insights
Based on property information with market context.
This six-unit investment property is located in South Pasadena, an area known for its award-winning schools. The property is situated in proximity to Los Angeles, Caltech, the Huntington Library, and the Pasadena Rose Bowl. Nearby amenities include Bristol Farms, Fair Oaks Retail, Garfield Park, and the Metro Station. The location has a walk score of 90, indicating it is a walker's paradise, and a bike score of 63, indicating it is bikeable. The transit score is 61, indicating good transit options.
Key Highlights
- Located in South Pasadena, known for award‑winning schools.
- Walker's Paradise with a walkScore of 90.
- Rare 6‑unit investment property.
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
$73,374
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
3.34%
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%
$1,467,480
$1.5M
Cap Rate 7%
$1,048,200
$1.0M
Cap Rate 9%
$815,267
$815.3K
Market Conditions
NOI Build-Up for 4,560 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
$145.0K $31.80/SF
− Vacancy
−$11.6K −$2.54/SF
EGI
$133.4K $29.26/SF
− OpEx
−$60.0K −$13.17/SF
NOI
$73.4K $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 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%
$1,467,480
Cap Rate 7%
$1,048,200
Cap Rate 9%
$815,267
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$917.2K – $1.22M
NOI $73,374 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $170,898 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,002
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit property in South Pasadena, near schools and amenities.
Where is this apartment building located?
The property is located at 500 Mound AVE South Pasadena, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Located in South Pasadena, known for award‑winning schools.; Walker's Paradise with a walkScore of 90.; Rare 6‑unit investment property.
