59 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
4.08%

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

Marcus & Millichap are pleased to present the opportunity to acquire 59 S Sierra Madre Blvd, a Seven-unit investment opportunity located in the vibrant 91107 zip code of Los Angeles. Investment Highlights: • Seven-Unit Multifamily Property in Pasadena: Well-located asset situated along Sierra Madre Blvd within the desirable 91107 submarket. • Strong In-Place Occupancy: The property is currently 100% occupied, providing stable, immediate cash flow. • Value-Add Upside Through Rent Growth: In-place rents remain below comparable market levels, offering upside through natural turnover and rent realignment. • Attractive Unit Mix: Comprised primarily of one-bedroom units plus one larger three-bedroom unit, appealing to a broad tenant base. • Convenient Access & Neighborhood Appeal: Proximity to local amenities, employment centers, and regional transit throughout Pasadena and surrounding areas. • Solid Pro Forma Performance: Pro forma NOI growth driven by rent increases, supporting improved cap rate and GRM metrics.

Market Context

This multifamily in Pasadena, CA is listed for sale. It is offered at an approximate 4.1% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 78 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 4.1% asking cap rate is below the Greater Los Angeles multifamily market average of about 5.0%, reflecting premium pricing relative to 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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