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Property profile & analytics
OFF-MARKET
Estimated value
$2,715,000
Investment properties
488 Allen Ave Pasadena, CA 91106-1344
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6386853
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1926
Construction
TILT-UP CONCRETE
Total area
8,678 SF
Lot
0.21 ac (9,001 SF)
Zoning code
PSC-
APN
5745-012-050
UPID
US09-6386853
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
-
Samar's Mediterranean Cuisine Restaurant
-
Event Professionals Chef Touche Event Planning Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.79M
CAP Approach
CAP
$2.58M
Comparable Approach
Comparable
$1.87M
Blend (final)
Blend
$2.72M
Owner & transaction history
Msie 488 504 LLC · 1 yrs held
Msie 488 504 LLC
since 2025
7 recorded transactions
Zoning & alternative use
PSC- · Pasadena, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$4.3M
+27.7%
Retail stores
$4.3M
+26.9%
Medical building
$3.9M
+16.0%
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
$2,775,000
ML approach
$2,790,000
CAP Approach
CAP Return
Estimation
6%
$2,795,000
6.5%
$2,580,000
7%
$2,395,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,400,000
Current use
AUTO REPAIR, GARAGE
$4,345,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$4,315,000
Change: +27% · Conversion: Easy
MEDICAL BUILDING
$3,945,000
Change: +16% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,665,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$2.72M
Range $2.44M – $2.99M · ±10%
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
$313 / 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
$33,567
Tax year 2024
Assessed value
$2,891,791
Assessed 2024
Previous assessed
$2,891,791
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,061,208
Assessed improvement
$1,830,583
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
1926
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
8,678 SF
Lot
0.21 ac (9,001 SF)
Zoning code
PSC-
APN
5745-012-050
UPID
US09-6386853
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
$3.4M
AUTO REPAIR, GARAGE
Est. value
$4.3M
RETAIL STORES
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$3.9M
INDUSTRIAL (GENERAL)
Est. value
$3.7M
COMMERCIAL (GENERAL) Current
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
1926
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Msie 488 504 LLC
Entity
Mailing address
1770 WRIGHT PL, UPLAND, CA 91784-9282
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2025
—
Msie 488 504 LLC
Georges Michel
Grant Deed
$1,470,000 · Pcb Bank
Apr 20, 2021
$2,725,000
Georges Michel
Joe Piumetti
Grant Deed
$2,160,000 · Pacific City Bank
Oct 16, 2019
—
Joe Piumetti
Joe Piumetti
Intrafamily Transfer
related
$1,100,000 · Broadway Federal Bank Fsb
Jan 12, 2006
—
Joe Piumetti
Jetstream Exchange Co LLC
Grant Deed
$1,200,000 · Luther Burbank Savings
Oct 18, 2005
—
Jetstream Exchange Co LLC
Crystal Investments LLC
Grant Deed
—
Oct 20, 2000
—
Crystal Investments
Abajian,a R
Trustees Deed
related
—
Nov 19, 1998
—
Abajian,alan Tr
—
Deed Of Trust
related
—
—
—
Abajian Trust
—
Deed Of Trust
related
$14,187 · Pasadena City (ca)
—
—
Crystal Investments LLC
—
Deed Of Trust
related
$504,000 · East West Bank
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.
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