| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 78th | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 975 San Pasqual St, Pasadena, CA, 91106, US |
| Region / Metro | Pasadena |
| Year of Construction | 1972 |
| Units | 86 |
| Transaction Date | 2022-11-14 |
| Transaction Price | $38,000,000 |
| Buyer | HSR SAN PASQUAL LP |
| Seller | GUARDIAN LIFE INSURANCE COMPANY OF AMERI |
975 San Pasqual St Pasadena Multifamily Investment
Positioned in an amenity-rich Urban Core pocket of Pasadena, the asset benefits from a deep renter base and high-cost ownership dynamics that support leasing durability, according to WDSuite’s CRE market data. Investors should view the location as demand-resilient with potential to enhance performance through targeted renovations.
The property sits within an A+ rated Urban Core neighborhood that is competitive among Los Angeles-Long Beach-Glendale neighborhoods (51 out of 1,441 by WDSuite’s composite rank). Amenity density is a local strength: restaurants and cafes benchmark in the top national percentiles, with parks, pharmacies, and grocery options also well represented. This walkable access profile typically underpins resident retention and supports steady leasing for professionally managed multifamily.
Local housing metrics point to strong renter demand. The neighborhood shows a high renter concentration relative to national norms, indicating depth in the tenant pool for larger properties. Within a 3-mile radius, households have risen even as average household size trends smaller, a pattern that can expand the renter pool and support occupancy stability for well-maintained assets.
Home values in the immediate area are elevated versus national benchmarks, and value-to-income ratios trend high for the metro. In practice, a high-cost ownership market tends to reinforce reliance on multifamily housing, which can aid lease retention and pricing power when paired with sound asset management. Median rent-to-income levels in the neighborhood appear manageable in context, suggesting room for disciplined rent optimization without overextending affordability pressure.
Vintage is a consideration: the asset was built in 1972, slightly older than the neighborhood’s average stock. For investors, this points to clear value-add and capital planning levers around unit interiors, common areas, and building systems that can sharpen competitive positioning against newer product and capture amenity-driven demand in Pasadena.
Safety trends are mixed and should be underwritten thoughtfully. Relative to neighborhoods nationwide, the area sits below the higher safety percentiles, and within the Los Angeles-Long Beach-Glendale metro it ranks among higher-crime neighborhoods (1,237 out of 1,441). Property crime is a notable component of that profile. That said, recent year-over-year data show improvement in violent incident rates, indicating some positive momentum to monitor over time.
For investors, the takeaway is to plan for standard security measures and operational best practices (lighting, access control, coordination with local resources) and to underwrite marketing and retention strategies that highlight the submarket’s amenity access and employment connectivity.
Nearby employers span utilities, packaging, energy, software, and metals, creating a diversified employment base that supports renter demand and commute convenience for residents. The following anchors are within a roughly 6–9 mile commute of the property:
- Edison International — utilities (6.5 miles) — HQ
- Avery Dennison — packaging & materials (7.4 miles) — HQ
- Chevron — energy (7.5 miles)
- Microsoft — software (9.1 miles)
- Reliance Steel & Aluminum — metals & distribution (9.2 miles) — HQ
This 86-unit asset in Pasadena combines a high-amenity Urban Core setting with strong renter depth and elevated ownership costs that tend to favor multifamily. According to CRE market data from WDSuite, neighborhood occupancy sits below national norms, making operations and value-add execution important. With a 1972 vintage, targeted renovations and system updates can unlock rent premiums against an amenity-rich backdrop where households are growing within a 3-mile radius and average household size is trending smaller—factors that generally expand the renter pool.
Home values benchmark well above national levels, reinforcing renter reliance on professionally managed housing and supporting lease retention. Proximity to diversified corporate anchors further underpins demand. Key risks include below-average neighborhood safety metrics and softer occupancy readings locally; both can be mitigated through capital planning, security best practices, and focused leasing.
- Amenity-rich Urban Core location with national top-tier access to restaurants, parks, and services
- Deep renter base locally and within 3 miles, with smaller household sizes supporting multifamily demand
- 1972 vintage presents clear value-add levers through interior, common-area, and system upgrades
- Elevated home values reinforce reliance on rental housing, aiding lease retention and pricing power
- Risks: below-average neighborhood safety and softer occupancy; mitigate via security, operations, and targeted leasing