South Pasadena is located in a strong market for 5+ unit multifamily loans. Multifamily loans in South Pasadena are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in South Pasadena are some of the lowest nationally. South Pasadena apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in South Pasadena.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in South Pasadena are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in South Pasadena.
The city of South Pasadena in Los Angeles County has a population of 25,329. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median South Pasadena resident is 40 years old with a yearly income of $61,163. The average family has 3.22 members and a median household income of $104,308. South Pasadena has a 67% higher education rate. The unemployment rate in South Pasadena is 4.0%.
52.6% of South Pasadena households are renters.
25.8% median household income spent on rent.
Bedrooms |
Los Angeles County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,488 | $1,137 | $737 |
| 1 bedroom | $1,746 | $1,291 | $813 |
| 2 bedroom | $2,238 | $1,635 | $1,015 |
| 3 bedroom | $2,974 | $2,254 | $1,325 |
| 4 bedroom | $3,243 | $2,613 | $1,521 |
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