90-92 Monterey Road

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Active
$3,975,000
4 beds12 baths8,355 sqft$476/sqft
90-92 Monterey Rd, South Pasadena, CA 91030
Est: $20,204/moGet pre-approved
Multi FamilyProperty Type
0.32 acresLot Size
1963Year Built
$476/sq ftPrice per sq ft
14 carsParking Spaces

Description

Monterey Terrace Apartments is a 12-unit multifamily property located at 90 & 92 Monterey Road in South Pasadena, California. The property consists of three two-story walk-up buildings totaling 8,355 gross square feet. Built in 1963, the asset features a unit mix of twelve 2-bedroom/1-bathroom units, with approximately six units averaging 655 square feet and six units averaging 670 square feet. The property has undergone significant capital improvements, including a gut renovation in 2008 with upgraded...Monterey Terrace Apartments is a 12-unit multifamily property located at 90 & 92 Monterey Road in South Pasadena, California. The property consists of three two-story walk-up buildings totaling 8,355 gross square feet. Built in 1963, the asset features a unit mix of twelve 2-bedroom/1-bathroom units, with approximately six units averaging 655 square feet and six units averaging 670 square feet. The property has undergone significant capital improvements, including a gut renovation in 2008 with upgraded plumbing, electrical systems, windows, flooring, kitchens, appliances, cabinets, bathrooms, fixtures, hot water heaters, and central air conditioning units. Additional improvements include soft-story parking reinforcement completed in 2008, and a completed SB 721 decking inspection. Monterey Terrace Apartments presents an opportunity to acquire a renovated multifamily asset in South Pasadena with potential long-term upside through its high-density SPR4 zoning designation. Situated on a 14,040 square foot lot, the property benefits from zoning that allows for potential future development up to 20 units, subject to buyer verification. The asset is located within a residential neighborhood featuring a mix of condominiums, apartments, and single-family homes. With
upgraded building systems, individually metered utilities, renovated interiors, and completed capital improvements, Monterey Terrace Apartments offers investors a stabilized multifamily opportunity with additional value potential.
15 days on Market
  • Listed by: KEVIN LUTZ DRE #00925595 Brokerage DRE #01444805 • Keller Williams Realty/Pasadena 626-429-0685
  • Listed by: KEVIN HURLEY DRE #01237798 Brokerage DRE #01444805 • Keller Williams Realty/Pasadena
Last updated: 08/19/2026 03:07 AM • Source: CRMLS, MLS#: WS26180702

Location

Listing Courtesy of Keller Williams Realty/Pasadena, KEVIN LUTZ, DRE #00925595; Keller Williams Realty/Pasadena, KEVIN HURLEY, DRE #01237798
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Property Information for 90-92 Monterey Road

Property Details
  • MLS Type: Residential Income / Res Income 2-4 Units
  • County: Los Angeles County
  • Parking Spaces Total: 14
  • Private Pool: No
  • Cooling Type: Central Air
  • Total Units: 12.0
  • Building Type: Attached
  • Lot Size Source: Public Records
  • Living Area: 8355
  • Assessor Parcel Number: 5312-002-002
  • Property Attached YN: true
  • Common Walls: 2+ Common Walls
  • New Construction: No
  • Average Studio Area Units: Square Feet
  • Average 1 Bed Area Units: Square Feet
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Building Area Total: 8355
  • Building Area Units: Square Feet
  • Stories Total: 2
  • Entry Level: 1
  • Pool: No
  • Spa: No
  • Association: No
  • Association Fee: $.00
  • Zoning: Public Rec
  • Senior Community: No
  • Parcel Number: 5312002002
  • Area: South Pasadena (658)
  • Directions: Monterey Road & Oak Hill Avenue
Building Information
  • Building/Complex: 90-92 Monterey Rd
  • Stories: 2
  • Year Built: 1963
Income / Expense / Tax Details
Income Details
  • Gross Income: $2,160
  • Gross Scheduled Income: $313,068
  • Vacancy Allowance: 9392
  • Gross Operating Income: $303,676
  • Net Operating Income: $213,453
  • Laundry Income: $2,160
  • Gross Multiplier: 12.7
  • Cap Rate: 5.37
Expense Details
  • Operating Expense: $90,223
  • New Taxes Expense: $43,709
  • Gardener Expense: $2,640
  • Fuel Expense: $591
  • Electric Expense: $2,610
  • Insurance Expense: $8,998
  • Maintenance Expense: $15,654
  • Professional Management Expense: $0
  • Other Expense: $5,694
  • Other Expense Description: Asses
  • Trash Expense: $6,180
  • Water Sewer Expense: $4,147
  • Total Expenses: $90,223
Tax / Assessment Info
  • Tax Block: 1
  • Tax Tract Number: .
  • CFD/Mello-Roos Fee: $5,694
  • Tax Lot: 2
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Gutters
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Lease
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
  • Spa Features: None
  • Spa Heat: N/K
Land/Lot Info
  • Additional Parcels Description: 5312-002-003,5312-002-005
  • Lot Features: Level with Street
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 0
  • Carport Spaces: 10
Property / Structure Info
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,080
  • Unit Type Total Rent: $12,480
  • Unit Type Pro Forma: 14400
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,238
  • Unit Type Total Rent: $13,429
  • Unit Type Pro Forma: 14400
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 11
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Gas Meters: 13
  • Number Of Separate Water Meters: 14

Property History for 90-92 Monterey Road

DateEvent & SourcePriceAppreciation
Aug 19, 2026

Listed (Active)

CRMLS #WS26180702

$3,975,000—
Aug 19, 2026

Listed (Active)

CLAW #WS26180702MR

$3,975,000—
Aug 19, 2026

Listed (Active)

SDMLS #WS26180702

$3,975,000—
DateEvent & SourcePrice
08/19/2026

Listed (Active)

CRMLS #WS26180702

$3,975,000
08/19/2026

Listed (Active)

CLAW #WS26180702MR

$3,975,000
08/19/2026

Listed (Active)

SDMLS #WS26180702

$3,975,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 90-92 Monterey Road

This home is within South Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Arroyo Vista Elementary School
Public - K to 5
South Pasadena Middle School
Public - 6 to 8
South Pasadena Senior High School
Public - 9 to 12
Good Shepherd Lutheran
Private - PK to 8
Rating
School
Distance
Arroyo Vista Elementary School
PublicK to 5

South Pasadena Middle School
Public6 to 8

South Pasadena Senior High School
Public9 to 12

Good Shepherd Lutheran
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 90-92 Monterey Road, South Pasadena, CA 91030

90-92 Monterey Road is a multi-family home for sale in South Pasadena, CA 91030. This property was listed for sale on August 19, 2026 by Keller Williams Realty/Pasadena, it's currently listed at $3,975,000. This listing's school district is South Pasadena Unified School District. Nearby schools include Arroyo Vista Elementary School, South Pasadena Middle School and South Pasadena Senior High School. 90-92 Monterey Road is a 4-bed, 12-bath, 8,355 sqft multi-family home built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty/Pasadena, KEVIN LUTZ, DRE #00925595; Keller Williams Realty/Pasadena, KEVIN HURLEY, DRE #01237798

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.