518 S Sierra Madre Blvd — Sale in Pasadena, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Pasadena, CA 91107

Investment Figures

Cap rate
5.65%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Located within the Unincorporated Los Angeles section of Pasadena at the border of San Marino, situated between San Pasqual Ave and California Blvd, 518 S Sierra Madre Blvd, Pasadena, CA 91107 is a charming 1950 built well maintained eleven (11) unit apartment building. Situated on 0.26 acres of land with an approximate rentable square feet of 8,091, the eleven (11) units consists of eight (8) 1+1 units and three (3) 2+1 units. The units feature open floor plans with great natural light, wood and/or wood like flooring, ample closet space, wall a/c and gas heaters. The building has a charming curb appeal with a lush courtyard that has fruit trees and mature landscaping which add to the quiet and picturesque environment. The property features a laundry room with two (2) washers and two (2) dryers. Adjacent to the laundry room is an outdoor sitting area with fruit trees and succulent plants. There are six (6) garages that will be delivered vacant at the close of escrow. The new owner has the opportunity to rent as storage or parking to existing and/or future tenants. Recent upgrades to the property include but are not limited to a new roof (approximately 1 year old), copper plumbing (vertical/horizontal), new windows (Southside of property), partial upgraded electrical, and new paint. Current rents are approximately 15% below market, providing the owner an opportunity to improve the income over time as the opportunity presents itself. 518 S. Sierra Madre is a rare opportunity for an investor to acquire a very well maintained, upgraded apartment building in a desirable and historically sought after rental market. Investment Highlights: • Rare Opportunity – First time on the market in over 20 years • Well Maintained Charming 1950's property located in historically sought after rental location • Favorable Unit Mix – Property consists of Eight (8) 1+1 units and Three (3) 2+1 units • Recent Capital Improvements - Recent upgrades to the property include but are not li

Market Context

This multifamily in Pasadena, CA is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Pasadena, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 5.7% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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