| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 84th | Best |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 239 S Sierra Madre Blvd, Pasadena, CA, 91107, US |
| Region / Metro | Pasadena |
| Year of Construction | 1973 |
| Units | 69 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
239 S Sierra Madre Blvd Pasadena Multifamily Investment
In a high-cost ownership pocket of Pasadena, renter demand is supported by elevated home values and an above-median renter concentration, according to WDSuite’s CRE market data. Investors should note solid neighborhood amenities and schools alongside room to compete on operations and product quality.
Situated in Pasadena’s Urban Core, the neighborhood ranks 239 out of 1,441 metro neighborhoods—placing it in the top quartile locally on overall quality (A-). Dining, parks, and daily needs test well versus national norms: restaurants, parks, and pharmacies score around the upper decile nationally, while grocery access sits well above average. Cafe and childcare densities are limited within the neighborhood, so residents likely rely on nearby submarkets for those services.
School quality is a draw for family renters: the average school rating is 4.0 and performs in the 84th percentile nationally. The neighborhood’s renter-occupied share is 47.8% (87th percentile nationally), indicating a deep tenant base for multifamily. Elevated home values (99th percentile nationally) and a high value-to-income ratio reinforce reliance on rental housing, while a rent-to-income ratio near 0.20 suggests comparatively manageable rent burdens that can support lease retention and measured rent growth.
Within a 3-mile radius, recent trends show modest population softening alongside a slight increase in households, with forecasts calling for further household growth and smaller average household sizes—both of which can expand the renter pool and support occupancy over time. Median contract rents in this 3-mile area have risen over the last five years and are projected to continue increasing, signaling sustained pricing power potential relative to metro peers, based on CRE market data from WDSuite. The property’s 1973 vintage is older than the neighborhood average construction year of 1980, underscoring potential value-add and capital planning opportunities to strengthen competitive positioning against newer stock.
Safety indicators are mixed relative to the region and nation. The neighborhood’s crime rank sits at 860 out of 1,441 metro neighborhoods, reflecting conditions that are not among the metro’s strongest. Nationally, recent trends are constructive: estimated violent offense rates have declined year over year (a trend in the upper tier nationally for improvement), and property offenses have also moved lower on a one-year basis. Investors should account for these directional improvements while underwriting, and evaluate block-level operations and security measures typical for Urban Core assets.
Proximity to major corporate employers supports commuter demand and leasing stability, with a concentration of headquarters and regional offices within a 6–11 mile radius including Edison International, Chevron, Avery Dennison, Microsoft, and Reliance Steel & Aluminum.
- Edison International — utilities (6.2 miles) — HQ
- Chevron — energy (6.5 miles)
- Avery Dennison — packaging & materials (8.9 miles) — HQ
- Microsoft — technology offices (10.6 miles)
- Reliance Steel & Aluminum — metals & distribution (10.6 miles) — HQ
This 1973, 69‑unit asset in Pasadena sits in a top‑quartile neighborhood locally, with strong school performance, high home values that reinforce renter reliance on multifamily, and a renter-occupied share that signals depth of demand. According to CRE market data from WDSuite, the area exhibits nationally competitive amenities for daily needs and recreation, while household growth and smaller household sizes within a 3‑mile radius point to a gradually expanding renter pool that can support occupancy and measured rent growth.
From an underwriting standpoint, older vintage creates clear value‑add angles—interior modernization and systems upgrades—to compete against newer properties and capture rent premiums. While neighborhood occupancy trends have been softer than national averages, nearby employment nodes and high-cost ownership dynamics can underpin retention when paired with disciplined leasing, targeted improvements, and attentive asset management.
- Top‑quartile Pasadena location with nationally strong schools and daily‑needs amenities
- High ownership costs reinforce renter reliance, supporting depth of multifamily demand
- 1973 vintage offers value‑add potential via renovations and building systems upgrades
- 3‑mile household growth and smaller household sizes expand the future renter pool
- Risk: neighborhood occupancy runs below national averages; active leasing and asset improvements are important