112 N Mar Vista Ave · Pasadena, CA 91106

$3,285,000

12 bd · 10.0 ba · 6,920 sqft · MultiFamily public records · 122 Days on market

Built 1959 8,736 sqft lot $475/sqft · 20% above area Est $2735k · 20% over

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.2/30.0
• DSCR +8.3/10.0
• 1% rule +6.0/10.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

SELLER MOTIVATED – $565K PRICE REDUCTION! Prime 10-unit Value-add several blocks from CALTECH and PCC, 6.22% In-place CAP Rate in Class A Location, Corner lot on Union St, RM-48 Zone, Walkscore 94, Long-time owner, Very Well-maintained. A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at an attractive 6.22% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment with no known deferred maintenance and excellent in-place rents. The property was built in 1959 and situated on southeast corner of Mar Vista Ave and Union St. It has a total of ±6,920SF building size and is situated on a large ±8,744SF R4 lot. It has small lawn in the front with side paver stone courtyard that provides easy access to units. The roof is in excellent condition, all the windows have been upgraded, and the property has updated exterior paint. It offers an excellent unit mix of two (2) 2-bedroom+1-bathroom, and eight (8) 1-bedroom+1-bathroom units. Approximately 8 out of 10 of the units have had upgrades with updated kitchen, updated flooring and updated bathroom (buyer to verify). The units are spacious and bright with updated dual pane windows throughout. Two units are vacant and can be delivered vacant There are 9 parking spaces provided by carports in the back – there is no soft story retrofit required. Parking is secured by an automatic parking gate. There is a shared laundry room with seller’s own machines. Each unit is separately metered for gas and electricity.

Key facts

• Class a location
• Walkscore 94
• 8,736 sq ft lot

Tags

• CLASS A LOCATION
• CORNER LOT ON UNION ST
• WALKSCORE 94
• UPDATED EXTERIOR PAINT
• SMALL LAWN IN THE FRONT
• SIDE PAVER STONE COURTYARD

What this means for you Summary

Snapshot

• This is a 10 × 12-bed/10.0-bath units multifamily listed at $3.29M.

Deal economics

• At list price, monthly cash flow is $7k ($88k/yr) — positive. Per door: $737/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($36k rent vs $3.29M).
• Recommended offer: $2.89M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#181 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety D+, crime F, cost of living F.
• Pasadena Unified (urban): math 42% / reading 60% proficiency, ranked #123 of 517 in CA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mckinley (648 students, 83% FRL) — zoned schools average 83% FRL vs 55% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.0%/yr); 75 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($23k loan paydown + $1k appreciation (0.0% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.0% appreciation + 0.0% rent growth), your $920k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$206k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($2.89M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $565k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $2.12M; list at $3.29M implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,890,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.61%
• DSCR: 1.43
• GRM: 7.6

CMA / ARV

• ARV (median comp): $2,735,000
• List price: $3,285,000
• Delta: 20.11%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

0.03% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.30×
• Total profit: $271,539
• Equity at exit: $958,892

10-year hold

• IRR: 9.4%
• Equity multiple: 1.94×
• Total profit: $866,088
• Equity at exit: $1,156,654

Cash invested: $919,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 91106

• Home prices YoY: 0.0%
• Rents YoY: -0.0%
• Active inventory: 75
• Price-to-rent: 75.8×

Monthly cashflow live

• Estimated rent: $36,134 medium
• Mortgage (P&I): −$17,227
• Tax from tax record: −$2,583 /mo · $31,002/yr
• Insurance: −$1,369
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,588
• Net cashflow: $7,367

Break-even live

Break-even rent $26,809

Max offer price $3,285,000

Occupancy floor 75%

Sensitivity live

Price	-10% $9,226	-5% $8,297	+0% $7,367	+5% $6,437	+10% $5,507
Rent	-10% $4,512	-5% $5,939	+0% $7,367	+5% $8,794	+10% $10,221
Rate	-1.0pp $9,021	-0.5pp $8,202	base $7,367	+0.5pp $6,516	+1.0pp $5,650

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	12	10	$36,130
Total (10 units)			$36,134

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $821,250
• Closing costs: $98,550
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-07
   price $3,285,000 1881-char remark

   Show marketing remark (1881 chars)

   SELLER MOTIVATED – $565K PRICE REDUCTION! Prime 10-unit Value-add several blocks from CALTECH and PCC, 6.22% In-place CAP Rate in Class A Location, Corner lot on Union St, RM-48 Zone, Walkscore 94, Long-time owner, Very Well-maintained. A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at an attractive 6.22% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment with no known deferred maintenance and excellent in-place rents. The property was built in 1959 and situated on southeast corner of Mar Vista Ave and Union St. It has a total of ±6,920SF building size and is situated on a large ±8,744SF R4 lot. It has small lawn in the front with side paver stone courtyard that provides easy access to units. The roof is in excellent condition, all the windows have been upgraded, and the property has updated exterior paint. It offers an excellent unit mix of two (2) 2-bedroom+1-bathroom, and eight (8) 1-bedroom+1-bathroom units. Approximately 8 out of 10 of the units have had upgrades with updated kitchen, updated flooring and updated bathroom (buyer to verify). The units are spacious and bright with updated dual pane windows throughout. Two units are vacant and can be delivered vacant There are 9 parking spaces provided by carports in the back – there is no soft story retrofit required. Parking is secured by an automatic parking gate. There is a shared laundry room with seller’s own machines. Each unit is separately metered for gas and electricity.

2. 2026-04-20
   price $3,350,000 1881-char remark

   Show marketing remark (1881 chars)

   SELLER MOTIVATED – $565K PRICE REDUCTION! Prime 10-unit Value-add several blocks from CALTECH and PCC, 6.22% In-place CAP Rate in Class A Location, Corner lot on Union St, RM-48 Zone, Walkscore 94, Long-time owner, Very Well-maintained. A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at an attractive 6.22% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment with no known deferred maintenance and excellent in-place rents. The property was built in 1959 and situated on southeast corner of Mar Vista Ave and Union St. It has a total of ±6,920SF building size and is situated on a large ±8,744SF R4 lot. It has small lawn in the front with side paver stone courtyard that provides easy access to units. The roof is in excellent condition, all the windows have been upgraded, and the property has updated exterior paint. It offers an excellent unit mix of two (2) 2-bedroom+1-bathroom, and eight (8) 1-bedroom+1-bathroom units. Approximately 8 out of 10 of the units have had upgrades with updated kitchen, updated flooring and updated bathroom (buyer to verify). The units are spacious and bright with updated dual pane windows throughout. Two units are vacant and can be delivered vacant There are 9 parking spaces provided by carports in the back – there is no soft story retrofit required. Parking is secured by an automatic parking gate. There is a shared laundry room with seller’s own machines. Each unit is separately metered for gas and electricity.

3. 2026-03-18
   price $3,688,000 1881-char remark

   Show marketing remark (1881 chars)

   SELLER MOTIVATED – $565K PRICE REDUCTION! Prime 10-unit Value-add several blocks from CALTECH and PCC, 6.22% In-place CAP Rate in Class A Location, Corner lot on Union St, RM-48 Zone, Walkscore 94, Long-time owner, Very Well-maintained. A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at an attractive 6.22% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment with no known deferred maintenance and excellent in-place rents. The property was built in 1959 and situated on southeast corner of Mar Vista Ave and Union St. It has a total of ±6,920SF building size and is situated on a large ±8,744SF R4 lot. It has small lawn in the front with side paver stone courtyard that provides easy access to units. The roof is in excellent condition, all the windows have been upgraded, and the property has updated exterior paint. It offers an excellent unit mix of two (2) 2-bedroom+1-bathroom, and eight (8) 1-bedroom+1-bathroom units. Approximately 8 out of 10 of the units have had upgrades with updated kitchen, updated flooring and updated bathroom (buyer to verify). The units are spacious and bright with updated dual pane windows throughout. Two units are vacant and can be delivered vacant There are 9 parking spaces provided by carports in the back – there is no soft story retrofit required. Parking is secured by an automatic parking gate. There is a shared laundry room with seller’s own machines. Each unit is separately metered for gas and electricity.

4. 2026-01-24
   listed $3,850,000 Active 1881-char remark

   Show marketing remark (1881 chars)

   SELLER MOTIVATED – $565K PRICE REDUCTION! Prime 10-unit Value-add several blocks from CALTECH and PCC, 6.22% In-place CAP Rate in Class A Location, Corner lot on Union St, RM-48 Zone, Walkscore 94, Long-time owner, Very Well-maintained. A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at an attractive 6.22% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment with no known deferred maintenance and excellent in-place rents. The property was built in 1959 and situated on southeast corner of Mar Vista Ave and Union St. It has a total of ±6,920SF building size and is situated on a large ±8,744SF R4 lot. It has small lawn in the front with side paver stone courtyard that provides easy access to units. The roof is in excellent condition, all the windows have been upgraded, and the property has updated exterior paint. It offers an excellent unit mix of two (2) 2-bedroom+1-bathroom, and eight (8) 1-bedroom+1-bathroom units. Approximately 8 out of 10 of the units have had upgrades with updated kitchen, updated flooring and updated bathroom (buyer to verify). The units are spacious and bright with updated dual pane windows throughout. Two units are vacant and can be delivered vacant There are 9 parking spaces provided by carports in the back – there is no soft story retrofit required. Parking is secured by an automatic parking gate. There is a shared laundry room with seller’s own machines. Each unit is separately metered for gas and electricity.

5. 2025-03-12
   historical
6. 2024-12-05
   listed $4,100,000 Active
7. 2024-11-13
   historical
8. 2024-10-26
   price $4,188,000
9. 2024-09-21
   listed $4,388,000 Active
10. 2014-07-01
    soldstatus $2,125,000
11. 2010-07-01
    soldstatus $675,000
12. 1978-08-21
    soldstatus $75,500
13. 1977-09-30
    soldstatus $81,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $31,002 · $2,583/mo
• Projected year-2 tax: $31,002 · $2,583/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $433,608
• − Mortgage interest: −$184,011
• − Property taxes: −$31,002
• − Insurance: −$16,425
• − Repairs & maintenance: −$34,689
• − Management: −$34,689
• − Depreciation: −$95,564
• Taxable income: $37,229
• Est. tax owed @ 24.0%: −$8,935
• After-tax cash flow: $79,466/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pasadena Unified
• NCES district ID: 0629940
• Math proficiency: 42% ▲ 7.00%
• Reading proficiency: 60% ▲ 15.00%
• Median HH income: $73,762
• Composite: 45.82/100
• National rank: #2557
• State rank: #123 of 517 in CA

Livability — Pasadena

• Score: 72/100
• State rank: #181
• US rank: #5981

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing C+ Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasadena, CA
• County: Los Angeles County · 9,444,647 people
• City population: 151,001
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 23,910
• Household income: $90,028
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 1766.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 31% Asian 21% Two or more races 13% Black 5%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 2% Subsaharan African 1% Lithuanian 1%
• Foreign-born: 30% · Canada, China, South Korea
• Languages at home: 58% English-only · Spanish 22% Chinese 8% Other Indo-European 4%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ 0.03%
• Current HPI: 348.6155
• Rent YoY: ▬ -0.04%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+3930.7% since first listed

13 events — show timeline

• 2026-05-07 Price Changed $3,285,000 CRMLS
• 2026-04-20 Price Changed $3,350,000 CRMLS
• 2026-03-18 Price Changed $3,688,000 CRMLS
• 2026-01-24 Listed $3,850,000 CRMLS
• 2025-03-12 Listing Removed — CRMLS
• 2024-12-05 Listed $4,100,000 CRMLS
• 2024-11-13 Listing Removed — CRMLS
• 2024-10-26 Price Changed $4,188,000 CRMLS
• 2024-09-21 Listed $4,388,000 CRMLS
• 2014-07-01 Sold (Public Records) $2,125,000 Public Records
• 2010-07-01 Sold (Public Records) $675,000 Public Records
• 1978-08-21 Sold (Public Records) $75,500 Public Records
• 1977-09-30 Sold (Public Records) $81,500 Public Records

Property tax history

+10.5%/yr

Latest (2025): $31,002 · +4.7% YoY. Source: county tax records.