$3,975,000
South Pasadena, CA 91030
1963
Year Built
Los Angeles
County
Apartment
Property Type
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.
$21,157/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
Last updated: October 21, 2026 at 4:15 PMThe multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. All listing data, including but not limited to square footage and lot size, is believed to be accurate but is not guaranteed by the listing Agent, listing Broker, or CRMLS. Buyers are responsible for verifying the accuracy of all information and should independently investigate the data or retain appropriate professionals prior to making any decisions. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information herein may or may not have been the Listing and/or Selling Agent. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
