New Listing
Description
Rare opportunity to acquire the subject property, a well-maintained 5-unit apartment community ideally located in the heart of Pasadena, one of the most established and consistently sought-after residential markets in the San Gabriel Valley. Built in 1950/1953 and coming to market for the first time in over 30 years, this offering represents a true generational ownership event a pride-of-ownership asset in a city defined by enduring demand and deep-rooted residential character.Situated on an expansive 13,725 square foot lot, the property totals 3,032 square feet of gross building area, averaging 606 square feet per unit across five separate buildings three of which contain residential units. The asset features a unit mix of four (4) one-bedroom, one-bath units and one (1) two-bedroom, one-bath house, a configuration that offers the privacy and feel of standalone living rarely found in traditional apartment product.In-place rents generate a scheduled monthly income of $11,013 and scheduled yearly income of $132,156, with garage income contributing an additional $5,640 annually supporting durable, diversified cash flow at the property.Pasadena's enduring appeal further strengthens the investment profile of the subject property. The asset is embedded within one of the most amenity-rich cities in Los Angeles County, with convenient access to the shops, dining, and cultural destinations of Old Pasadena, South Lake Avenue, and the Playhouse District, as well as the recreational amenities of Eaton Canyon, the Arroyo Seco, and the Rose Bowl. Proximity to the 210 and 134 freeways and the Metro A Line ensures easy connectivity to major employment hubs including Caltech, the Jet Propulsion Laboratory, and Huntington Health sustaining deep, consistent rental demand.With its prime Pasadena address, rare five-building configuration, strong in-place income, on-site garages, and first-time availability in over 30 years, the subject property represents a rare opportunity to acquire a generational, pride-of-ownership asset in one of the most enduring and supply-constrained submarkets in Los Angeles.
Details
| MLS # | 26976913 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1953 |
| Days On Site | 5 |
| Listing Provided By | CBRE | John Boyett |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 3,032 |
| Story(s) | 1 |
| Units | 5 |
| Building(s) | 5 |
| Zoning | PSR* |
| Acreage | 0.32 |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pasadena |
| Zip Code | 91107 |
| Area | 648 Pasadena (SE) |
| Listing VS Median (in 91107) | |
Price: $2,120,000 low | high Med: $1,175,000 sqft: 3,032 low | high Med: 1,810 $ / sqft: $699 low | high Med: $681 On site: 5 low | high Med: 60 | |
Market Activity 91107
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pasadena |
| Zip Code | 91107 |
| Area | 648 Pasadena (SE) |
| Listing VS Median (in 91107) | |
Price: $2,120,000 low | high Med: $1,175,000 sqft: 3,032 low | high Med: 1,810 $ / sqft: $699 low | high Med: $681 On site: 5 low | high Med: 60 | |
 | $1,290,0002270 White StreetPasadena, CA 91107 |