Cash positive legal duplex with a non-conforming garage conversion studio. Stylish and turnkey. The property is zoned Commercial Residential so you can also run a business there. The property is on a corner lot and thus has two separate addresses. The other address is 150 E. Tremont St. All tenants are strong renters that pay on time and take great care of the premises. The larger unit is 2 bedroom with a finished attic space that is huge and can function as an additional room or office space.
This 6-unit Value-add apartment offering provides a whopping ±6.77% CAP Rate and ±7.95% Proforma CAP Rate translates to over 9% cash-on-cash return (buyer to verify), which is currently one of the highest CAP Rate for apartments in Pasadena submarket. The property is a two-story apartment with charming colonial revival architecture. It was built in 1892; it has a large building size of ±3,608 SF and is situated on a ±8,410 SF lot. It offers a desirable unit mix of two (2) x 2bed+1bath, and Four (4) x Studio units. Five (5) units have been upgraded with brand new flooring throughout, LED lighting, updated bathroom, 4 units have brand new kitchen with quartz countertops + new kitchen cabinets + stainless steel appliances, and much more. Most of the units are very charming, 2 units have high ceilings. The remaining non-upgraded 1 unit provide ±15% rental upside, which upon turnover will take the current CAP Rate to a whopping ±7.95% proforma CAP Rate (buyer to verify). There is a garage space that is being rented out for an additional income. One of the unit is vacant and can be delivered vacant. The property is a “smart building” with lighting and sprinkler watering controlled via smartphone, and it is secured via a security camera monitoring system. The property has new exterior paint and new common area paint as well. It has a total of 7 parking spaces at the back (5 garages + 2 open space). No parking soft story is required. New owners can take advantage of the garage by renting it out or even converting it into ADU. The property has a common laundry area – the seller owns the machines. Each unit is separately metered for electricity and gas. The property is located on Marengo Ave, crossing Washington Blvd. It is located several minutes east of 210 FWY and minutes away from Old Town Pasadena. It is within minutes from Rose Bowl area, The Paseo on Colorado, museums, theaters, entertainments, groceries, cafes, shops, and other fantastic amenities in Pasadena. It has a good demographic of $102,038 average household income within a 1-mile radius. The property has superb access to FWY 210 and FWY 134 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is minutes away from FWY 110 that connects to Downtown Los Angeles.
A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at close to 5% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment with no known deferred maintenance and excellent in-place rents. The property was built in 1959 and situated on southeast corner of Mar Vista Ave and Union St. It has a total of ±6,920SF building size and is situated on a large ±8,744SF R4 lot. It has small lawn in the front with side paver stone courtyard that provides easy access to units. The roof is in excellent condition and the property has updated exterior paint. It offers an excellent unit mix of two (2) 2-bedroom+1-bathroom, and eight (8) 1-bedroom+1-bathroom units. Approximately 8 out of 10 of the units have had upgrades with updated kitchen, updated flooring and updated bathroom (buyer to verify). The units are spacious and bright with updated dual pane windows throughout. There are 9 parking spaces provided by carports in the back – there is no soft story retrofit required. Parking is secured by an automatic parking gate. There is a shared laundry room with seller’s own machines. Each unit is separately metered for gas and electricity. The property is located within the central Pasadena area (near Pasadena City College and California Institute of Technology), south of 210 Freeway and just within minutes to Old Town Pasadena area. Boasting a Walk Score of 94 with SUPERB demographics, it offers a superior location with easy access to FWY 210 and FWY 134. It is approximately a mile away from Pasadena Playhouse District, and around ±1.8miles from Old Town Pasadena. It is also just minutes from The Pasadena Convention Center, Norton Simon Museum, Pacific Asia Museum, shopping and dining in the area. The property has superb access to FWY 210 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway.
409 N Mar Vista Ave, a value-add Triplex (3 unit) apartment community in the City of Pasadena. First time ever offered for sale since 1998 (26 years), the property offers desirable single story bungalow layout and consists of a single story SFR, and single-story duplex on the same lot. The property offers a strategic location near Old Town Pasadena, and Rose Bowl. This offering provides an excellent opportunity for a first-time apartment investor or even an owner-user to put their personal touch in a building w/ character and add value in the process. Property is FULLY occupied with tenants, and will be delivered with tenants in place (do not call listing broker asking this question over and over). The property was built in 1928, has a total of ±2,389 SF building size and situated on a large ±11,038 SF R4 zoned lot. It offers an excellent unit mix of front house 3bedroom + 1bathroom (may be converted to 2bed by current tenant), and a detached back duplex that consists of two (2) x 1bedroom+1bathroom units. Each building has a large private backyard and an attached garage (ideal for ADU conversion). All tenants are on month to month. It offers ease of maintenance and high demand due to its location and layout. The property offers ample parking with a total of 6 spaces provided by 2 attached garages which are primed for ADU’s conversions, and 4 open spaces. The property has a shared gate and driveway with the next-door property (413) and the parking gate is powered by next door property. Make sure to see agent remark.
Located in a quiet northeast Pasadena neighborhood, this single-level property features two units but can easily be used as a single-family residence. The front house offers two bedrooms and one bath, with approximately 811 sq.ft. of living space. The back house, facing Oxford and free-standing, includes one bedroom, one bath, a kitchen, and a living room, with around 542 sq.ft. The back house has a postal address of 1830 Oxford Ave. While the property requires some TLC to realize its full potential, it is being sold "AS IS. "Situated near the historic Highlands, Alta Dena Golf Course, and within walking distance to Washington Village’s shopping and dining, this home offers an excellent location. Please note: Drive-by only. Do not disturb tenants.
Discover a prime turnkey 3-story apartment building just blocks from the renowned California Institute of Technology. This fully rehabbed property features upgraded electrical systems, 80% replumbed infrastructure, and individual electric meters. The completed soft story retrofit enhances safety and stability, while each unit boasts new bathrooms, kitchens, and flooring. Equipped with in-unit washer/dryer combos, stoves, refrigerators, and microwaves, these apartments are designed for easy rental and high occupancy rates. With its strategic location near Caltech, this property is an outstanding opportunity for investors seeking a cash-flowing asset in a desirable area.
PRIME PASADENA LOCATION! Don't miss this rare opportunity to acquire a classic 7-unit Pasadena rental property located walking distance to the recently opened Erewhon market and all the shops and restaurants of South Lake Avenue. Offering a very strong unit mix of three 2 Bed + 1 bath units and four 1 Bed + 1 bath units with rents that offer a new owner, steady and realistic rental income growth. With good curb appeal and a unique building layout make this property not a typical box apartment building. Improvements include several units being completely renovated, updated plumbing throughout property, newer dual pane windows, recently replaced roofs, the elevated decking have been inspected and the SOFT-STORY RETROFIT COMPLETED! Other features include 8 on-site parking spaces and tenant storage cabinets, separate water heaters, community laundry room with coin operated machines and all the units are separately metered for gas/electricity. The property is subject to local Pasadena rent control laws, buyer is to verify and familiarize. Don't miss this chance to invest in such a prized location where properties are held for generations and don't trade hands often. PLEASE DO NOT DISTURB THE TENANTS. DRIVE-BY ONLY.
PRIME PASADENA LOCATION! Don't miss this rare opportunity to acquire a classic 7-unit Pasadena rental property located walking distance to the recently opened Erewhon market and all the shops and restaurants of South Lake Avenue. Offering a very strong unit mix of three 2 Bed + 1 bath units and four 1 Bed + 1 bath units with rents that offer a new owner, steady and realistic rental income growth. With good curb appeal and a unique building layout make this property not a typical box apartment building. Improvements include several units being completely renovated, updated plumbing throughout property, newer dual pane windows, recently replaced roofs, the elevated decking have been inspected and the SOFT-STORY RETROFIT COMPLETED! Other features include 8 on-site parking spaces and tenant storage cabinets, separate water heaters, community laundry room with coin operated machines and all the units are separately metered for gas/electricity. The property is subject to local Pasadena rent control laws, buyer is to verify and familiarize. Don't miss this chance to invest in such a prized location where properties are held for generations and don't trade hands often. PLEASE DO NOT DISTURB THE TENANTS. DRIVE-BY ONLY.
Courtesy: Realty Investment Advisors, Inc.
We are pleased to present Sharlotte Apartments, a 16-unit apartment community in Pasadena, CA. This property features an excellent unit mix consisting of majority 2-bedroom 2-bath units with balconies/patios, gated entry, covered parking, individual gas and electric meters, and a sparkling pool. The building has undergone several exterior upgrades such as soft story retrofitting, reinforced balconies & decks, all new windows, new electric panels, and a new roof (2021). The interiors have been tastefully renovated with granite countertops, new cabinetry, stainless steel appliances, recessed LED lighting, laminate wood flooring or new carpet, and upgraded bathrooms. This multigenerational asset has been meticulously maintained throughout ownership and is on the market for the first time in 48 years. With strong in-place rents, the property generates a current cap rate of 5.6%, 7.1% with market rents, offering an investor roughly 20% upside in rental income. This trophy asset is ideal for investors seeking a well-maintained, well-located turnkey asset with upside potential and no differed maintenance.
ON THE TOURNAMENT OF ROSES ROUTE! A well maintained turn of the century home with 8 bedrooms and 4 baths currently used as a boarding house (county information is not correct) It's unique two story layout includes five bedrooms down and 3 bedrooms up Each level has its own kitchen Bathrooms total 4; each level has a common bathroom , plus a full bathroom in units#2 and unit#3. The home includes a basement AND an attic, a detached garage total of 9 parking places, 8 in the rear and 1 in the front. Currently being used as a boarding house with good occupants. A great opportunity for a large family, homeowner, investor and developer in the great city of Pasadena PLEASE DO NOT DISTURB THE OCCUPANTS DRIVE BY ONLY The in house property manager and occupants would love to remain in the property which will be sorted out in the near future based on interested buyers/investors
Courtesy: Nancy Valentine, Broker
Stunning Arts & Crafts Bungalow built in 1904 with beautifully preserved period details. Separate mid-century building with 3 one bedroom units and 2 car garage built in 1950. Craftsman has wonderful period details including hardwood floors, coffered ceiling, solid wood doors, built-in china hutch with leaded glass, fireplace & original windows. Original hardware on the doors and some original light fixtures. Deep, full front porch with wood ceiling. Main level public rooms: Living room features coffered ceiling & original fireplace with many wood details & original light fixtures. Dining room features stunning built-in reading nook with storage and a striking china hutch with leaded glass in excellent condition. Wood wainscotting with plate railing. Bright kitchen is spacious and updated with dishwasher. Large breakfast room with multiple windows. On main level there are two spacious bedroom suites. The front suite features a period bathroom with clawfoot tub. Back porch has been converted to large laundry room with side-by-side washer and dryer (tenant owned) There is access to the upstairs which has 2 bedrooms and a half bath. Back building built in 1950 is mid-century. It features 2 car garage and three 1 bedroom 1 bath units. All units are occupied and property will convey with the tenants. Landlord owns all appliances except two refrigerator and washer/dryer in the main house. Separate gas & electric meters. Two car garage is used by front tenant. Additional onsite parking. Property being sold in ''as-is condition''.
HIGHLIGHTS: The property is protected from auto-reassessment after sale under the Mills Act. Property tax are currently set at just $22,325 per year / Estimated saving under the Mills Act are $30,000 annually. In essence adding the income of an additional one-bedroom unit, with no expenses. / Attractive in-place offering actual CAP Rate of 4.63% With a ProForma CAP Rate of 5.27% / 2017 Historic Preservation Award / Three (3) two-story, two-bedroom, two-and-one half bathroom units (2B2.5B) + bonus room in master bedroom. / Tenants have access to offsite parking at the Marriott, with several additional local options available for more affordable solutions / Individually metered for all utilities. Water submetering is in place. Currently master-metered for water, 9 individual water meters in place. ) (MILLS ACT PROTECTED PROPERTY) The Historic Fannie Bonham Row House at 221 N Raymond Ave, Pasadena, CA, is a meticulously restored property and the only remaining example of rowhouse construction in the city! The property features a desirable unit mix, including six (6) single-story, 1-bedroom, 1-bathroom units, and three (3) townhouse-style, 2-bedroom, 2.5-bathroom units. Each townhouse unit also includes a bonus room in the master bedroom, offering flexible space ideal for a nursery, home office, or additional bedroom. This historic building underwent an extensive restoration to preserve its original architectural details while modernizing essential key building systems. Jackson Milling & Lumber, Inc. contributed significantly to this effort, utilizing custom-milled Douglas fir to replace wood siding & replicate intricate crown moldings true to the materials used in the original construction. Additionally, American Window Restoration repaired or replaced all windows to maintain historical accuracy. This dedication to preserving the building's heritage earned it a Historic Preservation Award from the City of Pasadena and recognition from then-Senator Anthony Portantino.
Courtesy: IDEAL REALTY
Great potential for investors. 5 units multi-family apartment located in a high-rental demand area with 100% occupancy. Units 249, 255 N Sierra Bonita & 1596 Locust are downstairs units with 1 spacious bedroom 1 bath, 2 bedroom 1 bath, & 2 bedroom 1 bath respectively. 251 & 253 N Sierra Bonita are upstairs units with 1 bedroom 1 bath each. The property is located close to Lake Metro Gold Line, Pasadena City College, and Old Town Pasadena. Walking distance to a public library, a children’s center, and a park.
Great potential for investors or owner to live at front house and collect incomes from the other 3 units. Located in quiet neighborhood. Walking distance to Metro Gold Line & Lake Ave. Two Buildings with 4 Total Units. The front building has 3 bedroom plus 1 bonus room (2 bedroom and bonus room downstairs & 1 bedroom upstairs) with 3 bathroom, about 1,636 sq Ft. The other building is about 2,239 Sq Ft with three units of 2 bedroom 1 bathroom each. 100% Occupancy. This home is conveniently located to Pasadena Downtown/Freeway 210/Bus Stations/Pasadena City College/Art Center College.
Excellent opportunity to acquire a well maintained 12 unit property located walking distance to South Lake and recently opened Erewhon market, Pasadena Playhouse and even Old Town. South Madison Ave is considered one of the most desired streets in all of Pasadena and this property is ONLY $304,000 PER UNIT! Situated on a corner lot approximately 12,755 S.F. in size and boasting a unit mix of two 2 Bed + 1 bath units and 10 1 Bed + 1 bath units, make this a fantastic rental investment. On-site carport parking, separate water heaters, laundry room, separate meters for gas/electricity and a pitched roof are some additional features. NO SOFT-STORY RETROFIT NEEDED! With below market rents, there is excellent rent growth potential for a long-term investor. Property is subject to local Pasadena rent control laws. Don't miss this chance to invest in such a prized location where few properties trade hands. PLEASE DO NOT DISTURB THE TENANTS.
Excellent opportunity to acquire a well maintained 12 unit property located walking distance to South Lake and recently opened Erewhon market, Pasadena Playhouse and even Old Town. South Madison Ave is considered one of the most desired streets in all of Pasadena and this property is ONLY $304,000 PER UNIT! Situated on a corner lot approximately 12,755 S.F. in size and boasting a unit mix of two 2 Bed + 1 bath units and 10 1 Bed + 1 bath units, make this a fantastic rental investment. On-site carport parking, separate water heaters, laundry room, separate meters for gas/electricity and a pitched roof are some additional features. NO SOFT-STORY RETROFIT NEEDED! With below market rents, there is excellent rent growth potential for a long-term investor. Property is subject to local Pasadena rent control laws. Don't miss this chance to invest in such a prized location where few properties trade hands. PLEASE DO NOT DISTURB THE TENANTS.
Courtesy: Cornerstone Real Estate Serv.
6 unit building in East PasadenaThe complex offers a desirable unit mix of 2- 2 - bedrooms 1 Ba units- one with patio & fenced yard. 4- 1- bedroom 1- Ba units: 2 units have yards. 2 units have balcony's with stunning mountain views.The upgrades consist of Newer premium wide plank laminate flooring, Granite & tile tops, New and remodeled baths, 6 New electric sub panels, 6- updated water heaters, 7 separate Gas & 7-Electric meters, The building had received new roof aprox 10 yrs old, has had copper re-pipe added. The covered parking is the rear off nicely maintained alley. Concrete pad for 6 cars, separate utility room with new washer and dryer (owned) not rentals. Adjoining storage room for owners use. concrete walkways mature landscaping, notice Steel and concrete stair cases. 4 units are now offered vacant and move in ready, for owner occupant investor. no relocation fees to pay. no soft story retrofit.The offering is a low maintenance, well maintained investment offering upside growth to the buyer. This is a long term ownership property to be proud of.With prior rents on vacant units generating a 4.1 cap rate and Grm 18.9 At Market rates Cap rate 5.2 Grm 15.7
Explore this promising investment opportunity in Pasadena: a triplex property with potential for value-add improvements. Situated at 2183 White Street, this property includes three units, one of which is currently vacant--ideal for immediate occupancy or renovation.While the property is a fixer-upper, it offers significant potential for both investors and owner-occupiers. With some updating and remodeling, this triplex could generate substantial rental income or serve as a prime living space while leasing out the other units. Positioned in a desirable area of Pasadena, the property is close to local amenities, shopping, dining, and public transportation. Additionally, the seller has approved ADU plans!Don't miss out on this unique chance to invest in Pasadena's thriving market and customize this triplex to suit your vision!
Impressive Triplex! A rare opportunity to purchase three units that include a house in the front and two additional units in the back. The front house features 3 bedrooms, 2 bathrooms, hardwood floors in the living room, dining area and bedrooms, a fireplace, large gated front yard with fruit trees and a finished attic. Each back unit offers 1 bedroom, 1 bathroom, laundry hook-up, and its own one car designated parking spot. Located in a great neighborhood in Pasadena. Conveniently located near freeways, shop, and restaurants. A Must See!
This multifamily Pasadena property carries the charm and style of a bygone era. Located on a lot of over 10,800 sqft, there are 3 units plus a detached garage with storage space. The main house was originally built in 1897 and has been split into two units – one upstairs and one downstairs – 2 bedroom, 1 bath for each. Additionally, there is a third detached occupied unit. With the oversized lot, there is plenty of open space in the front yard, backyard and side yard. And for parking, there is a long driveway shared by the renters. The long-time renters are month-to-month. All units offer washer/dryer hookups. There are 2 electric meters and 3 gas meters. Bring your toolbox and imagination for your own piece of the Pasadena dream.
RARE INVEST OPPORTUNITY TO BUILT 5 UNIT CONDO. This Elegant three units are located in the prime area of Pasadena, close to Cal-Tech & P. C. C. , shopping and transportation. There is one duplex in the beautiful front yard, ground level(41 S. Berkeley) has 4 bedrooms, two baths; upper level(41 1/2 S. Berkeley) has 2 bedrooms and one bath; the rear yard(43 S. Berkeley) has one bedroom and one bath; the upper level has been updated with new plumbing, electricity, drywall and flooring. Every unit has its own washer & dryer machine , gas meter and electricity meter. Upgrade roof on the front duplex in 2012, City only shows front duplex permit, buyer's own responsibility to acquire the permit or corrections, sold as is condition.
Pasadena is located in California. Pasadena, California has a population of 138,771. Pasadena is less family-centric than the surrounding county with 29.61% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Pasadena, California is $89,661. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Pasadena is 39.1 years.
The average high temperature in July is 87.5 degrees, with an average low temperature in January of 45.1 degrees. The average rainfall is approximately 21.4 inches per year, with 0 inches of snow per year.
