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276 S Sierra Madre Blvd 22 Unit Apartment Building $5,875,000 ($267,045/Unit) 5.50% Cap Rate Pasadena, CA 91107
INVESTMENT HIGHLIGHTS
- TURN-KEY PROPERTY!
- GATED SECURED ON-SITE PARKING
- UPDATED INTERIORS, ELECTRICAL, PLUMBING, WINDOWS, ROOF, LANDSCAPING
EXECUTIVE SUMMARY
TURN-KEY, FULLY UPDATED PROPERTY!! Rare offering of 22 units, meticulously maintained, South of Del Mar Blvd. at $267K per unit and 5.34% Cap Rate,....Pride of Ownership just north of San Marino border. The property features UPDATED WINDOWS, ELECTRICAL, & PLUMBING SYSTEMS; REMODELED INTERIORS, Newer roof, refreshed landscaping, and secured on-site gated parking, offering a low-maintenance profile for investors seeking a streamlined, predictable operation. Thoughtful improvements enhance tenant appeal while reducing future capital expenditures. Master metered for electricity, gas and water, making this a perfect candidate to pass-thru utility expenses, trimming expenses and improving cash flow! The unit mix includes 4 spacious 1-bed + 1-bath units and 18 well-designed singles, totaling approximately 8,820 square feet of building area on a 14,600 SF lot. With highly functional layouts and modern finishes throughout, the building boasts units that are always in demand and stands out as an exceptionally pride-of-ownership asset in a supply-constrained submarket.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$487,200
|
$45.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$14,616
|
$1.38
|
| Effective Gross Income |
$472,584
|
$44.61
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$149,621
|
$14.12
|
| Net Operating Income |
$322,963
|
$30.49
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $487,200 |
| Annual Per SF | $45.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $14,616 |
| Annual Per SF | $1.38 |
| Effective Gross Income | |
|---|---|
| Annual | $472,584 |
| Annual Per SF | $44.61 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $149,621 |
| Annual Per SF | $14.12 |
| Net Operating Income | |
|---|---|
| Annual | $322,963 |
| Annual Per SF | $30.49 |
PROPERTY FACTS
| Price | $5,875,000 | Apartment Style | Low-Rise |
| Price Per Unit | $267,045 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 5.50% | Building Size | 8,820 SF |
| Gross Rent Multiplier | 12.06 | Average Occupancy | 97% |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Zoning | RM-16, Pasadena | ||
| Price | $5,875,000 |
| Price Per Unit | $267,045 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 12.06 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 8,820 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | RM-16, Pasadena |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Ceiling Fans
- Crown Molding
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Double Pane Windows
- Smoke Free
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 18 | $1,730 | 370 |
| 1+1 | 4 | $2,248 | 520 |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 5330-001-007 | Improvements Assessment | $980,685 (2025) |
| Land Assessment | $2,574,308 (2025) | Total Assessment | $3,554,993 (2025) |
PROPERTY TAXES
Parcel Number
5330-001-007
Land Assessment
$2,574,308 (2025)
Improvements Assessment
$980,685 (2025)
Total Assessment
$3,554,993 (2025)
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276 S Sierra Madre Blvd
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