$3,975,000
24 bd · 12 ba · · 14,039 sqft lot
90-92 Monterey Rd, South Pasadena, CA 91030
Multi-family · Built 1963 ·
$24,345/mo est. payment
- Stories
- 2
Flood factor 1/10
About this home
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.
Facts and features
Bedrooms
- Bedrooms: 24
Bathrooms
- Total Bathrooms: 12
- Full Bathrooms: 12
Appliances
- Laundry Features: Common Area
Heating and Cooling
- Cooling Features: Central Air
- Heating Features: Central
- Heating: Yes
Land Info
- Additional Parcels Description: 5312-002-003,5312-002-005
- Additional Parcels: Yes
- Land Lease: No
- Lot Description: Level with Street
- Lot Size Acres: 0.3223
- Lot Size Source: Public Records
- Lot Size Square Feet: 14040
Garage and Parking
- Carport Spaces: 10
- Parking Total: 14
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
- Gardener Expense: 2640
- Maintenance Expense: 15912
Multi-Unit Info
- Number of Buildings: 3
- Number of Units: 12
- Bedrooms in Unit-1: 2
- Bedrooms in Unit-2: 2
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Full Bathrooms in Unit-1: 1
- Full Bathrooms in Unit-2: 1
Schools
- 9
Arroyo Vista Elementary School
elementary · K-5 · 0.6 mi
- 10
South Pasadena Senior High School
high · 9-12 · 1.4 mi
- 10
South Pasadena Middle School
middle · 6-8 · 1.6 mi
Good Shepherd Lutheran
elementary · PK-8 · 0.5 mi
The Academy of Our Lady
elementary · K-8 · 0.6 mi
Free World U
elementary · K-12 · 0.7 mi
Price history
- Aug 19, 2026 · Listed$3,975,000
- Feb 3, 2009 · Sold$870,000
- Jul 31, 2001 · Sold$900,000
- Jun 26, 1990 · Sold$130,000
- May 1, 1986 · Sold$157,000
- Mar 9, 1984 · Sold$95,500
Tax history
- 2025$25,453 tax · $2,119,481 assessed
- 2024$26,140 tax · $2,077,923 assessed
- 2023$25,609 tax · $1,997,237 assessed
- 2022$24,694 tax · $1,958,076 assessed
- 2021$9,333 tax · $627,424 assessed
- 2020$9,210 tax · $620,992 assessed
- 2019$9,077 tax · $608,816 assessed
- 2018$8,809 tax · $596,879 assessed
Where it is
Listed by KEVIN LUTZ · Keller Williams Realty Pasadena · CRMLS
