Log In/Sign Up
Your email has been sent.
1156 Steuben St 5 Unit Apartment Building $1,000,000 ($200,000/Unit) 4.77% Cap Rate Pasadena, CA 91106
INVESTMENT HIGHLIGHTS
- Attractive Location- Near P.C.C. & Caltech
- High Density Zone RM48
EXECUTIVE SUMMARY
Unique investment opportunity in the heart of Pasadena—perfectly situated within walking distance to Colorado Boulevard, Pasadena City College, and Caltech. This property, zoned RM48, offers significant development potential in one of the most desirable and transit-accessible neighborhoods in the city. While the tax records show the property as a duplex, it is currently operating with five income-generating units. With an attractive Gross Rent Multiplier and Cap Rate, this asset allows you to collect income immediately while submitting plans for new construction or redevelopment. Additional property highlights include: Common laundry facility / Two water heaters/One electric meter and one gas meter/ Delivered with existing tenants in place This is a rare chance to secure a well-located, income-producing property with strong upside potential in a high-demand rental market. Whether you’re looking to expand your portfolio or begin a new project, this property offers both stability and opportunity. New sewer line. We are prioritizing cash offers, as conventional financing will not be accepted due to the presence of unpermitted units. A disclosure package and the transfer of responsibility report from the City of Pasadena are available upon request. Property will be delivered with existing tenants. None of the units will be vacated at COE.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.77% | Building Size | 3,164 SF |
| Gross Rent Multiplier | 12.95 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1905 |
| Property Subtype | Apartment | Parking Ratio | 1.58/1,000 SF |
| Zoning | RN-48 - See supplement for allowed uses | ||
| Price | $1,000,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 4.77% |
| Gross Rent Multiplier | 12.95 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 3,164 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1905 |
| Parking Ratio | 1.58/1,000 SF |
| Zoning | RN-48 - See supplement for allowed uses |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | 459 - 775 |
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (93)
1 of 35
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1156 Steuben St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.