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Property profile & analytics
OFF-MARKET
Estimated value
$23,070,000
Apartment buildings
700 Locust St Pasadena, CA 91101-7500
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-6961273
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1987
Construction
WOOD
Total area
52,934 SF
Lot
0.78 ac (33,760 SF)
Zoning code
PSC-
APN
5723-009-038
UPID
US09-6961273
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
-
ALUR Apartments Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$25.01M
Blend (final)
Blend
$23.07M
Owner & transaction history
Adc Pasadena Ventures LLC
Adc Pasadena Ventures LLC
since 2025
Last sale
$21.8M
5 recorded transactions
Zoning & alternative use
PSC- · Pasadena, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$37.0M
+117.3%
Office building
$32.6M
+91.0%
Neighborhood: shopping center
$32.2M
+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
$23,625,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$17,045,000
Current use
RESTAURANT
$37,035,000
Change: +117% · Conversion: Difficult
OFFICE BUILDING
$32,555,000
Change: +91% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$32,215,000
Change: +89% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,495,000
Change: +55% · Conversion: Difficult
RETAIL STORES
$26,330,000
Change: +54% · Conversion: Difficult
MEDICAL BUILDING
$24,065,000
Change: +41% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$22,355,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$23.07M
Range $20.76M – $25.38M · ±10% · vs last sale $21.82M (May 18 2025)
Last sale anchor
$21.82M
May 18 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
$436 / 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
$235,805
Tax year 2024
Assessed value
$20,707,877
Assessed 2024
Previous assessed
$20,707,877
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$12,310,012
Assessed improvement
$8,397,865
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
1987
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Units
51
Bathrooms
89
Total area
52,934 SF
Lot
0.78 ac (33,760 SF)
Zoning code
PSC-
APN
5723-009-038
UPID
US09-6961273
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PSC- · Pasadena, CA
Zoning PSC- · permitted uses
PSC- · 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
$17.0M
RESTAURANT
Est. value
$37.0M
OFFICE BUILDING
Est. value
$32.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$32.2M
AUTO REPAIR, GARAGE
Est. value
$26.5M
RETAIL STORES
Est. value
$26.3M
MEDICAL BUILDING
Est. value
$24.1M
INDUSTRIAL (GENERAL)
Est. value
$22.4M
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
1987
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
51
Bathrooms
89
Lot
0.78 ac
Current owner
From public records · entity-resolved
Adc Pasadena Ventures LLC
Entity
Mailing address
21700 OXNARD ST STE #345, WOODLAND HILLS, CA 91367-3694
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2025
$21,818,181
Adc Pasadena Ventures LLC
70 Locust Street Owner LLC
Grant Deed
$13,509,000 · Cbre Capital Markets INC
Aug 21, 2020
$19,350,000
700 Locust Street Owner LLC
Cgf Properties LLC
Grant Deed
$14,300,000 · Banc Of California NA
Feb 28, 2017
—
Cgf Properties LLC
Fuller Theological Seminary
Grant Deed
$41,250,000 · East West Bank
May 5, 1994
—
Fuller Theological Seminary
Unger,erhard G &
Grant Deed
related
$1,270,616 · Seller
—
—
Fuller Theological Seminary
—
Deed Of Trust
related
$750,000 · Fuller Foundation
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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