Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$15,675,000
Investment properties
1349 Hl Ave Pasadena, CA 91104-2677
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6358017
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1925
Construction
TILT-UP CONCRETE
Total area
24,258 SF
Lot
0.87 ac (37,806 SF)
Zoning code
PSC-
APN
5850-015-015
UPID
US09-6358017
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
1349 N Hill Apartment Building
-
Chris Neros (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.01M
Blend (final)
Blend
$15.68M
Owner & transaction history
Illco LLC · 4 yrs held
Illco LLC
since 2021
Last sale
$18.0M
7 recorded transactions
Zoning & alternative use
PSC- · Pasadena, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$17.0M
+78.5%
Neighborhood: shopping center
$14.8M
+55.3%
Office building
$13.6M
+43.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$18,335,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,505,000
Current use
RESTAURANT
$16,970,000
Change: +79% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$14,765,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$13,620,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,140,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$12,065,000
Change: +27% · Conversion: Easy
MEDICAL BUILDING
$11,025,000
Change: +16% · Conversion: Easy
INDUSTRIAL (GENERAL)
$10,245,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$15.68M
Range $14.11M – $17.24M · ±10% · vs last sale $18.00M (Dec 10 2021)
Last sale anchor
$18.00M
Dec 10 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$646 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$149,179
Tax year 2024
Assessed value
$13,095,432
Assessed 2024
Previous assessed
$13,095,432
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$6,346,440
Assessed improvement
$6,748,992
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1925
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
24,258 SF
Lot
0.87 ac (37,806 SF)
Zoning code
PSC-
APN
5850-015-015
UPID
US09-6358017
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PSC- · Pasadena, CAZoning PSC- · permitted uses
PSC- · Pasadena, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$9.5M
RESTAURANT
Est. value
$17.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.8M
OFFICE BUILDING
Est. value
$13.6M
AUTO REPAIR, GARAGE
Est. value
$12.1M
RETAIL STORES
Est. value
$12.1M
MEDICAL BUILDING
Est. value
$11.0M
INDUSTRIAL (GENERAL)
Est. value
$10.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
Illco LLC
Entity
Mailing address
1901 AVE OF THE STARS STE #630, LOS ANGELES, CA 90067-6004
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2021
$18,000,000
Illco LLC
Shops On Hill LLC
Grant Deed
$11,650,000 · Banc Of California NA
Apr 18, 2019
—
Shops On Hill LLC
—
Deed
related
$10,955,000 · Banc Of California NA
Oct 20, 2016
$13,400,000
Shops On Hill LLC
Ewv LLC
Grant Deed
$8,775,000 · Banc Of California NA
Apr 9, 2013
$4,800,000
Ewv LLC
Spencer,robert S & Carolyn
Grant Deed
$4,000,000 · California Republic Bank
Jun 28, 2010
—
Robert S Spencer
Spencer R A & B B Marital
Quit Claim Deed
related
—
Mar 28, 2005
—
Spencer R A & B B 1990 Trust
Spencer R A & B B 1990 Trust
Quit Claim Deed
related
—
—
—
Ewv LLC
—
Deed Of Trust
related
$6,600,000 · Bank Hapoalim Bm
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1349 Hl Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
