South Pasadena Apartment Building Sales
Explore 3 closed multifamily transactions totaling $6.65M in South Pasadena. Data from the LAAA Team at Marcus & Millichap.
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Transactions
$6.65M
Total Volume
3.54%
Avg Cap Rate
$297,091
Avg $/Unit
9
Avg Units
2013
Since
LAAA Team Track Record Since 2013
South Pasadena Multifamily Market Overview
South Pasadena is a small independent city known for top-rated schools and Mission Street charm. Across 3 transactions totaling $6.7M, average cap rate is 3.54% at $297K per unit across 28 units. NOT subject to LA RSO — AB 1482 applies.
Market Snapshot
Source: CoStar | Pasadena Multifamily | 2026 Q127,087Total Units
4.1%↑ from 2.9%Vacancy Rate
$2,475Market Rent/Unit
-1.5%Rent Growth (YoY)
4.9%Market Cap Rate
$386KMarket $/Unit
Rents by Unit Type
Studio$1,873/mo
1 Bedroom$2,241/mo
2 Bedroom$2,833/mo
3 Bedroom$3,497/mo
Investment Activity (Trailing 12 Mo)
Sales Volume$52.0M
Transactions15
Avg Price/Unit$386K
Avg Cap Rate5.1%
South Pasadena Market Area
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LAAA Team Closings in South Pasadena
3 transactions by Glen Scher, Filip Niculete & the LAAA Team
181 Monterey Rd
South Pasadena • 2021
Price
$2.60MUnits
17$/Unit
$152,941
$2.60MUnits
17$/Unit
$152,941
332 Pasadena Ave
South Pasadena • 2019
Price
$1.90MUnits
5Cap
3.42%$/Unit
$380,000
$1.90MUnits
5Cap
3.42%$/Unit
$380,000
603 Mound Ave
South Pasadena • 2019
Price
$2.15MUnits
6Cap
3.66%$/Unit
$358,333
$2.15MUnits
6Cap
3.66%$/Unit
$358,333
Source: LAAA Team Closed Transactions
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