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276 S Sierra Madre Blvd 22 Unit Apartment Building $5,585,000 ($253,864/Unit) 6.01% Cap Rate Pasadena, CA 91107
Investment Highlights
- TURN-KEY PROPERTY
- EASY TO RENT UNITS
- MAJOR CAPITAL IMPROVEMENTS
- STRONG RENTAL LOCATION
Executive Summary
**FULL CO-OP FEE TO BUYER'S BROKER** 6% CAP RATE, TURN-KEY PROPERTY! We are pleased to present this 22-unit multi-family property that has undergone extensive updating and renovation. A turn-key investment with a 6% Cap Rate, on the south side of Pasadena. Significant capital improvements include updated electrical, plumbing, drain lines, windows, doors and driveway/parking. The unit mix consists of 4 large 1-bed + 1-bath units and 18 Singles/1-bath with full size kitchens. All units have been renovated to include laminate or vinyl flooring, granite countertops, new cabinets, renovated bathrooms, stainless steel appliances and updated heat/AC systems. Tenants enjoy gated parking and a secure on-site laundry room. The property is meticulously maintained and managed by the ownership. Thoughtful and strategic property improvements enhance tenant appeal and rentability as well as reducing near-term capital expenditure exposure. The unit mix offers high rentability and flexibility in a dynamic rental market. Located not far from CalTech, PCC and the city of San Marino help make the location desired and convenient.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$488,340
|
$55.37
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$14,650
|
$1.66
|
| Effective Gross Income |
$473,690
|
$53.71
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$143,773
|
$16.30
|
| Net Operating Income |
$329,917
|
$37.41
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $488,340 |
| Annual Per SF | $55.37 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $14,650 |
| Annual Per SF | $1.66 |
| Effective Gross Income | |
|---|---|
| Annual | $473,690 |
| Annual Per SF | $53.71 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $143,773 |
| Annual Per SF | $16.30 |
| Net Operating Income | |
|---|---|
| Annual | $329,917 |
| Annual Per SF | $37.41 |
Property Facts
| Price | $5,585,000 | Apartment Style | Low-Rise |
| Price Per Unit | $253,864 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 6.01% | Building Size | 8,820 SF |
| Gross Rent Multiplier | 11.3 | 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 | LCR4YY | ||
| Price | $5,585,000 |
| Price Per Unit | $253,864 |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Gross Rent Multiplier | 11.3 |
| 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 | LCR4YY |
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
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gated
- Walking/Biking Trails
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 18 | - | 370 |
| 1+1 | 4 | - | 520 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5330-001-007 | Improvements Assessment | $980,685 |
| Land Assessment | $2,574,308 | Total Assessment | $3,554,993 |
Property Taxes
Parcel Number
5330-001-007
Land Assessment
$2,574,308
Improvements Assessment
$980,685
Total Assessment
$3,554,993
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276 S Sierra Madre Blvd
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