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Property profile & analytics
OFF-MARKET
Estimated value
$2,425,000
Apartment buildings
540 Euclid Ave Pasadena, CA 91101-3261
Entity Owned
Absentee Owner
Free & Clear
Property ID
US09-6917956
Property summary
AI-generated overview
This exceptional 7-unit apartment building presents a rare investment opportunity in Pasadena's desirable South Lake Avenue area. Boasting a prime location, this property offers a compelling mix of three 2-bedroom, 1-bathroom units and four 1-bedroom, 1-bathroom units, providing excellent rental income potential. The 5,030 square foot building, constructed in 1960 on a 9,619 square foot lot, features a convenient on-site carport and tuck-under parking. A recent soft-story retrofit has been completed, eliminating future upgrade needs. Individual water heaters and separately metered gas and electricity enhance efficiency. Additional features include an updated laundry room and a pitched roof. While current rents are below market, offering significant upside potential, the property is subject to Pasadena's rent control regulations. This is a walker's paradise with a Walk Score of 92, placing it within easy walking distance of amenities such as the newly opened Erewhon Market. The strong 4.01% cap rate and $100,287 NOI further solidify this property's value. The asking price is $2,500,000. Please respect tenant privacy
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1960
Construction
WOOD
Total area
5,030 SF
Lot
0.22 ac (9,619 SF)
Zoning code
PSR3
APN
5722-034-018
UPID
US09-6917956
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.43M
Owner & transaction history
Hong Bay Assets Management LLC
Hong Bay Assets Management LLC
since 2025
Last sale
$2.5M
4 recorded transactions
Zoning & alternative use
PSR3 · Pasadena, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.5M
+117.3%
Office building
$3.1M
+91.0%
Neighborhood: shopping center
$3.1M
+89.0%
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
$2,350,000
ML approach
$2,445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,620,000
Current use
RESTAURANT
$3,520,000
Change: +117% · Conversion: Difficult
OFFICE BUILDING
$3,095,000
Change: +91% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,060,000
Change: +89% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,520,000
Change: +55% · Conversion: Difficult
RETAIL STORES
$2,500,000
Change: +54% · Conversion: Difficult
MEDICAL BUILDING
$2,285,000
Change: +41% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,125,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$2.43M
Range $2.18M – $2.67M · ±10% · vs last sale $2.45M (Feb 12 2025)
Last sale anchor
$2.45M
Feb 12 2025
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
$482 / 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
$12,069
Tax year 2024
Assessed value
$949,011
Assessed 2024
Previous assessed
$949,011
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$284,228
Assessed improvement
$664,783
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1960
Construction
WOOD
Heating
NONE
Cooling
YES
Units
7
Bathrooms
7
Total area
5,030 SF
Lot
0.22 ac (9,619 SF)
Zoning code
PSR3
APN
5722-034-018
UPID
US09-6917956
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PSR3 · Pasadena, CA
Zoning PSR3 · permitted uses
PSR3 · Pasadena, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Pasadena. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.6M
RESTAURANT
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RETAIL STORES
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.3M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1960
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
7
Bathrooms
7
Lot
0.22 ac
Current owner
From public records · entity-resolved
Hong Bay Assets Management LLC
Entity
Free & Clear · 0 yrs held
Mailing address
8321 YOUNGDALE ST, SAN GABRIEL, CA 91775-1745
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2025
—
Hong Bay Assets Management LLC
Hong Ding
Deed
related
—
Feb 12, 2025
$2,453,000
Hong Ding
Nr Casals LLC
Grant Deed
—
Jan 22, 2021
—
Nr Casals LLC
Susana C Farahani
Quit Claim Deed
related
—
Apr 5, 2019
—
Casals,nieves R Trust
Casals,nieves R
Affidavit Of Death
—
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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