Individually Owned 
For Sale
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Property summary
This exceptional 19-unit apartment building, situated in the heart of Old Town Pasadena, presents a compelling investment opportunity. Built in 2002, this Class B property boasts 21,982 square feet on a 9,028 square foot lot and features 18 residential units and one commercial space, totaling approximately 2,900 square feet of rentable space. Each of the 18 residential units offers approximately 900 square feet, with two bedrooms and two bathrooms, and includes in-unit laundry. The building… provides 29 surface and subterranean parking spaces, including two handicapped-accessible spots. Currently operating at 100% occupancy, the property generates a strong pro-forma NOI of $501,147, representing a 4.5% pro-forma cap rate. The asking price is $11,800,000, or $621,052.63 per unit, and $536.80 per square foot. The property benefits from its prime location, just steps from local amenities, and within close proximity to major colleges, corporations, and public transportation, including the Memorial Park Metro Gold Line Station. A newly signed five-year retail lease (with a five-year option and 3% annual rental increases) commenced November 1, 2024, further enhancing the property's income stream. The existing note on the property is assumable at a 3.75% interest rate until October 2026, or the seller is open to providing financing with favorable terms. Below-market rents present potential for increased profitability. This is a stabilized investment with long-term tenants and a strong track record. The property is offered as a 1031 exchange opportunity.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2024
Value estimate
· Sep 2026Realmo valuation models over county records and 10 qualifying comparable sales.
Recently sold
Cap rate analysis
Price anchors at 6 / 6.5 / 7% — in the full report.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 14 properties nearbyComparable nearby
Similar in This City for Sale
Similar in This City for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- GBA
- 21,982 SF
- Lot area
- 0.21 ac
- Year built
- 2002
- Stories
- 1
- APN
- 5723-021-017
- Zoning
- PSC-
- Assessed value · 2024
- $2,969,782
- Annual tax · 2024
- $46,789
- Estimated market rent / SF
- Potential gross income
- Vacancy allowance
- Effective gross income
- Benchmark operating expenses
- Stabilized NOI
- Property tax · 2024
- $46,789
- Selected cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- Ownership
- Owner Contacts
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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