932 Arroyo Dr · South Pasadena, CA 91030

$1,625,000

30 bd · 25.0 ba · 4,018 sqft · MultiFamily · 6 Days on market

Built 1960 Good condition 6,030 sqft lot

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Why this score? — see what drove the B 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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +7.3/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks

Located in one of the most desirable pockets of South Pasadena, 932 Arroyo Drivepresents a rare opportunity to acquire a well-maintained 5-unit multifamily property in apremier rental market. The property features an attractive unit mix consisting of one 2-bedroom unit and four 1-bedroom units, appealing to a broad tenant base seeking thecharm, convenience, and strong community feel that South Pasadena is known for. Ownership has completed several recent capital improvements, including repainted driveways and walkways, newly paved parking lot, rebuilt rear deck, new awnings, new cable railing, new rain gutters, and a new spray foam flat roof installed in 2026. Unit #1 has been tastefully re

Key facts

• New awnings
• Repainted driveways
• Rebuilt rear deck

Tags

• 5 UNIT MULTIFAMILY PROPERTY
• RECENT CAPITAL IMPROVEMENTS
• REPAINTED DRIVEWAYS
• NEWLY PAVED PARKING LOT
• REBUILT REAR DECK
• NEW AWNINGS

Property features AI

Finance

• Other: Total building area: 4,018 (building area provided); Lot information from assessor's data; Sprinklers: none
• Financial info: Gross scheduled income: $107,268; Gross income: $107,268; Total actual rent: $106,068; Net operating income: $66,504; Operating expenses: $40,764; Total expenses: $40,674; Insurance expense: $8,100; Trash expense: $3,003; Water/sewer expense listed (nominal): $5; All five units currently leased

Exterior

• Parking: Carport parking; Five carport spaces; Five garage spaces (includes one garage for the two-bedroom unit); Total of five parking spaces
• Utilities: Sewer paid by property; Public/District water; Five separate water meters; Five separate gas meters; Five separate electric meters
• Home design: One building (multi-unit property); No accessory dwelling unit (ADU)
• Construction: Stucco construction
• Exterior features: Block wall fencing; No pool

Interior

• Kitchen: Refrigerator; Gas and electric range
• Bedrooms: Multiple one-bedroom units; One two-bedroom unit
• Bathrooms: One bathroom in each unit
• Heating & cooling: Central cooling; Wall/window cooling units; Central furnace heating; Wall heaters
• Interior features: No shared/common walls; Suburban neighborhood
• Laundry & utility: Community laundry

What this means for you Summary

Snapshot

• This is a 5 × 6-bed/5.0-bath units multifamily listed at $1.62M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $5k ($61k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.62M).
• Cap rate 10.1% vs local median 0.9% in South Pasadena — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#41 in CA, #1,541 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, commute A+; Watch: health & safety D+, cost of living F.
• South Pasadena Unified (suburban): math 79% / reading 84% proficiency, ranked #46 of 1,400 in CA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.1%/yr); 60 active listings in the ZIP; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $20,669/mo this rent would consume 195% of the median local household income ($127k/yr) (locally 992% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $49k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,625,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.45%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $1,146
• Equity at exit: $242,293

10-year hold

• IRR: 6.3%
• Equity multiple: 1.41×
• Total profit: $186,312
• Equity at exit: $140,500

Cash invested: $455,000 (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 91030

• Rents YoY: -0.1%
• Active inventory: 60
• Price-to-rent: 32.8×

Monthly cashflow live

• Estimated rent: $20,669 medium
• Mortgage (P&I): −$8,522
• Tax est. 1.5%: −$2,031 /mo · $24,375/yr
• Insurance: −$677
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,340
• Net cashflow: $5,098

Break-even live

Break-even rent $14,215

Max offer price $1,625,000

Occupancy floor 70%

Sensitivity live

Price	-10% $6,222	-5% $5,660	+0% $5,098	+5% $4,537	+10% $3,975
Rent	-10% $3,466	-5% $4,282	+0% $5,098	+5% $5,915	+10% $6,731
Rate	-1.0pp $5,917	-0.5pp $5,512	base $5,098	+0.5pp $4,677	+1.0pp $4,249

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

Units	Beds	Baths	Est. rent
▸ 5× units	6	5	$20,670
Total (5 units)			$20,669

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: $406,250
• Closing costs: $48,750
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $1,625,000 Active 6 DOM
2. 2026-06-18
   days on market $1,625,000 Active 3 DOM
3. 2026-06-17
   days on market $1,625,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $1,625,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $248,028
• − Mortgage interest: −$91,025
• − Property taxes: −$24,375
• − Insurance: −$8,125
• − Repairs & maintenance: −$19,842
• − Management: −$19,842
• − Depreciation: −$47,273
• Taxable income: $37,546
• Est. tax owed @ 24.0%: −$9,011
• After-tax cash flow: $52,171/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.

Condition & rehab AI · 5 photos

Good 75/100 Cosmetic rehab

A well-maintained 5-unit multifamily property in a desirable location with recent capital improvements. Potential for further updates to enhance curb appeal and interior spaces.

Value-add opportunities

• Both Paint and update exterior — Enhances curb appeal and property value
• Both Update kitchen and bathrooms — Modernizes spaces and attracts more tenants

Renovation cost estimate screening

Value-add ROI direction

• Both Paint and update exterior — Enhances curb appeal and property value ↑
• Both Update kitchen and bathrooms — Modernizes spaces and attracts more tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: South Pasadena Unified
• NCES district ID: 0637500
• Math proficiency: 79% ▬ 0.00%
• Reading proficiency: 84% ▬ 0.00%
• Median HH income: $83,904
• Composite: 72.86/100
• National rank: #365
• State rank: #46 of 1400 in CA

Livability — South Pasadena

• Score: 81/100
• State rank: #41
• US rank: #1541

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Pasadena, CA
• County: Los Angeles County · 9,444,647 people
• City population: 26,068
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 26,068
• Household income: $127,175
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 992.0

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 0.71)
• Race & ethnicity: White 38% Asian 32% Hispanic / Latino 21% Two or more races 15% Black 3%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 1%
• Foreign-born: 24% · China, Canada, South Korea
• Languages at home: 65% English-only · Chinese 13% Spanish 12% Korean 3%

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: ▼ -851.06%
• Current HPI: 491.5957
• Rent YoY: ▼ -0.11%
• 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

1 event — show timeline

• 2026-06-15 Listed $1,625,000 CRMLS