500 Mound Ave · South Pasadena, CA 91030

$2,200,000

7 bd · 6.0 ba · 4,560 sqft · MultiFamily public records · 125 Days on market

Built 1921 10,046 sqft lot $482/sqft · 10% above area Est $2000k · 10% 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 +27.0/30.0
• DSCR +9.3/10.0
• Schools +7.3/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• ARV discount +3.0/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Drive by ONLY! Please do not disturb residents. Rare 6 unit investment property located in South Pasadena known for its award-winning schools and proximity to: Los Angeles, Caltech, the Huntington Library and Pasadena Rose Bowl. Located near: Bristol Farms, Fair Oaks Retail, Garfield Park and the Metro Station.

Key facts

• Proximity to caltech
• Near bristol farms
• 0.23 acre lot

Tags

• 6 UNIT INVESTMENT PROPERTY
• AWARD-WINNING SCHOOLS
• PROXIMITY TO LOS ANGELES
• PROXIMITY TO CALTECH
• NEAR BRISTOL FARMS
• NEAR FAIR OAKS RETAIL

What this means for you Summary

Snapshot

• This is a 6 × 7-bed/6.0-bath units multifamily listed at $2.20M.

Deal economics

• At list price, monthly cash flow is $6k ($74k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $2.20M).
• Recommended offer: $1.94M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 0.8% 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); 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $24,659/mo this rent would consume 233% 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 $15k of loan paydown is wiped out by about $66k 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

• It's been on market 125 days — a 12% lower offer ($1.94M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $480k; list at $2.20M implies a 358% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,936,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 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 1921 — 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 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?
8. 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.
9. 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.
10. 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: 1.12% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.94%
• DSCR: 1.53
• GRM: 7.4

CMA / ARV

• ARV (median comp): $2,000,000
• List price: $2,200,000
• Delta: 10.00%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1411 Fair Oaks Ave	0.70mi	6/5.0 (-1)	4,034 (-12%)	22mo	$2,300,000	$570	21

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -1.7%
• Equity multiple: 0.94×
• Total profit: $-39,150
• Equity at exit: $328,027

10-year hold

• IRR: 4.7%
• Equity multiple: 1.30×
• Total profit: $186,189
• Equity at exit: $190,216

Cash invested: $616,000 (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: 59
• Price-to-rent: 44.6×

Monthly cashflow live

• Estimated rent: $24,659 medium
• Mortgage (P&I): −$11,537
• Tax from tax record: −$898 /mo · $10,772/yr
• Insurance: −$917
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,178
• Net cashflow: $6,129

Break-even live

Break-even rent $16,900

Max offer price $2,200,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 6× units	7	6	$24,660
Total (6 units)			$24,659

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: $550,000
• Closing costs: $66,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
673 S Mentor Ave Pasadena, CA	6.0	4.0	5439	$11,000	$2.02	1d	1	1.50mi

Listing history 23 events

1. 2026-06-18
   days on market $2,200,000 Active 125 DOM
2. 2026-06-17
   days on market $2,200,000 Active 124 DOM
3. 2026-06-16
   days on market $2,200,000 Active 123 DOM
4. 2026-06-15
   days on market $2,200,000 Active 122 DOM
5. 2026-06-13
   days on market $2,200,000 Active 120 DOM
6. 2026-06-13
   days on market $2,200,000 Active 119 DOM
7. 2026-06-09
   days on market $2,200,000 Active 116 DOM
8. 2026-06-08
   days on market $2,200,000 Active 115 DOM
9. 2026-06-07
   days on market $2,200,000 Active 114 DOM
10. 2026-06-04
    days on market $2,200,000 Active 111 DOM
11. 2026-06-03
    days on market $2,200,000 Active 110 DOM
12. 2026-06-02
    days on market $2,200,000 Active 109 DOM
13. 2026-06-01
    days on market $2,200,000 Active 108 DOM
14. 2026-05-31
    days on market $2,200,000 Active 107 DOM
15. 2026-02-13
    listed $2,200,000 Active 312-char remark

    Show marketing remark (312 chars)

    Drive by ONLY! Please do not disturb residents. Rare 6 unit investment property located in South Pasadena known for its award-winning schools and proximity to: Los Angeles, Caltech, the Huntington Library and Pasadena Rose Bowl. Located near: Bristol Farms, Fair Oaks Retail, Garfield Park and the Metro Station.

16. 2024-08-05
    historical
17. 2024-08-02
    listed $2,100,000 Active
18. 2022-05-09
    price $1,750
19. 1999-06-25
    soldstatus $480,000
20. 1999-06-25
    soldstatus $480,000
21. 1999-04-24
    historical
22. 1999-04-13
    listed $495,000
23. 1987-04-28
    soldstatus $295,000

ⓘ 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: $10,772 · $898/mo
• Projected year-2 tax: $16,720 · $1,393/mo
• Expected delta: +$5,948/yr (+$496/mo · 55.2%)

ⓘ 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 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: $295,908
• − Mortgage interest: −$123,234
• − Property taxes: −$10,772
• − Insurance: −$11,000
• − Repairs & maintenance: −$23,673
• − Management: −$23,673
• − Depreciation: −$64,000
• Taxable income: $39,557
• Est. tax owed @ 24.0%: −$9,494
• After-tax cash flow: $64,058/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: 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

+645.8% since first listed

9 events — show timeline

• 2026-02-13 Listed $2,200,000 CRMLS
• 2024-08-05 Listing Removed — CRMLS
• 2024-08-02 Listed $2,100,000 CRMLS
• 2022-05-09 Price Changed $1,750 RENT.
• 1999-06-25 Sold (Public Records) $480,000 Public Records
• 1999-06-25 Sold (MLS) $480,000 CRMLS
• 1999-04-24 Delisted — CRMLS
• 1999-04-13 Listed $495,000 CRMLS
• 1987-04-28 Sold (Public Records) $295,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $10,772 · -1.6% YoY. Source: county tax records.