| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 84th | Best |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2415 Mohawk St, Pasadena, CA, 91107, US |
| Region / Metro | Pasadena |
| Year of Construction | 1972 |
| Units | 28 |
| Transaction Date | 2018-04-02 |
| Transaction Price | $10,500,000 |
| Buyer | Gerald Marcil |
| Seller | Annette Sikand |
2415 Mohawk St Pasadena — 28-Unit 1972 Multifamily
Elevated home values and strong household incomes in the surrounding Pasadena area support sustained renter demand, according to WDSuite’s CRE market data. The neighborhood’s high-cost ownership landscape tends to reinforce multifamily leasing depth and pricing resilience.
Pasadena’s Urban Core pocket surrounding 2415 Mohawk St rates A- and is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 239 out of 1,441), per WDSuite. Restaurant access is a clear strength (around the 90th percentile nationally), with parks and pharmacies both near the top decile, while grocery options compare favorably (upper quartile). Café and childcare density is thinner, which investors should factor into resident experience planning.
Schools in the area benchmark well, with an average rating of 4.0 and performance that sits in the top quartile among 1,441 metro neighborhoods. This tends to support family appeal and longer tenure for qualified renters, aiding retention.
Vintage matters for underwriting: the property was built in 1972, older than the neighborhood’s average 1980 construction year. Investors should plan for ongoing capital needs and consider value-add upgrades to improve competitiveness against newer stock, particularly common-area modernization and system replacements over the hold.
Tenure dynamics indicate depth for leasing: approximately 47.8% of housing units in the neighborhood are renter-occupied. In a high-cost ownership market (home values near the 99th percentile nationally), this renter concentration typically supports a stable tenant base and helps sustain occupancy and rent levels.
Demographic statistics aggregated within a 3-mile radius show modest population softening in recent years alongside a slight increase in households, pointing to smaller household sizes and steady demand for rental units. Looking ahead, forecasts call for additional household growth and higher median incomes, which can expand the qualified renter pool and support rent collections.
Safety indicators are mixed relative to the metro and nation. The neighborhood’s overall crime rank sits below the metro median (ranked 860 out of 1,441), signaling room for improvement compared with many Los Angeles-area neighborhoods. Nationally, violent offense levels benchmark around the lower-middle range, while property offenses track weaker.
Recent momentum is constructive: both violent and property offense rates have moved downward over the past year, according to WDSuite’s CRE market data. Investors often mitigate location-specific risks through lighting, access controls, and resident engagement, which can support leasing confidence and retention.
Nearby corporate offices create a diverse white-collar employment base that supports renter demand and commute convenience, including Edison International, Chevron, Avery Dennison, Microsoft, and Reliance Steel & Aluminum.
- Edison International — utilities (6.4 miles) — HQ
- Chevron — energy offices (6.6 miles)
- Avery Dennison — materials & labeling (9.0 miles) — HQ
- Microsoft — technology offices (10.8 miles)
- Reliance Steel & Aluminum — metals & distribution (10.8 miles) — HQ
2415 Mohawk St offers 28 units with an average size around 950 sq. ft. in a high-income Pasadena location where elevated ownership costs help sustain multifamily demand. Neighborhood amenities benchmark well nationally for restaurants, parks, and pharmacies, and schools score in the top quartile among 1,441 metro neighborhoods. According to CRE market data from WDSuite, renter-occupied share is substantial, reinforcing a durable tenant base even as neighborhood occupancy has moderated from prior highs.
The 1972 vintage is older than nearby stock, creating a straightforward value-add path through targeted upgrades and capital planning to elevate positioning versus newer assets. Three-mile demographics point to increasing household counts and rising incomes over the outlook period, supporting rent growth potential and collections management, while proximity to multiple corporate employers underpins leasing velocity.
- High-cost ownership market supports multifamily demand and pricing power
- Strong amenity and school benchmarks aid retention for qualified renters
- 1972 vintage presents clear value-add and capex planning opportunities
- Diverse nearby employers support leasing depth and commute appeal
- Risks: neighborhood occupancy below metro leaders and mixed safety metrics