Significant Price Drop... Highly Motivated Seller... This meticulously maintained 7-unit building, located in a prime area just south of the 210 freeway in Pasadena, spans 6,050 rentable square feet and offers a mix of unit configurations: one unit with 3 bedrooms and 2 bathrooms, four units with 2 bedrooms and 2 bathrooms, and two units with 1 bedroom and 1 bathroom. Each unit boasts spacious layouts with abundant natural light and excellent ventilation. Completely remodeled in 2017, all 7 units feature copper piping, central AC/Heat, new kitchens, bathroom, and flooring throughout. Three units also feature in-unit laundry, offering added convenience to these modern, comfortable living spaces. Recent upgrades include a newly constructed electrical room with a 400-amp main breaker panel, ensuring compliance with city code at 60 amps per unit. Ideally located just minutes from Old Town Pasadena with easy freeway access, the property is close to Pasadena City College, Cal Tech, The Rose Bowl, and the Rose Parade Route. Colorado Boulevard’s top restaurants and amenities are nearby, enhancing its appeal to tenants. Its prime location and high demand ensure strong long-term returns and a solid hedge against inflation.
4.89 CAP RATE ! AND ZERO VACANCY ! RELOCATION FEES PAID The Tenancy Has Been Completed Turned Over With Excellent income The hard work has been done for YOU - TURNKEY investment opportunity Truly One of A Kind Investment Property - Superb Location nearby PCC, Cal Tech, VONS, and In & Out. Extensive "Pride of Ownership" Fully remodeling was done in 2023. The Complex features 6 two-bedroom units and one 3-bedroom unit, These are highly desirable Townhouse-Styled Units with 7 onsite Parking Spaces. Remodeled interiors with newer interior paint, waterproof flooring, lighting and crown moldings throughout, custom cabinetry, quartz countertops, stainless steel appliances, technically upgraded with Nest Thermostats and Ring Cameras. Newer exterior paint, Double glazing windows and glass sliding doors. Exterior termite repairs completed in early 2023. Copper Plumbing. Separate Electricity & Gas Meters. On Site Laundry Room with 2 Sets coin of Machines. total 8 water heaters , 3 new replaced few months ago , one water heater just for the laundry room, so many upgraded, ETC! This property is priced to sell!!! do not miss this one!!!Property is being sold as is .
This 5-unit, single-story apartment complex in Pasadena features two-bedroom, one-bathroom units, offering a total interior space of 4,600 square feet on an 11,116 square foot lot. Fully occupied on month-to-month leases, the property has special PSR1 zoning, allowing for institutional use. Current rents yield a 4% cap rate, with potential for a 6.7% market cap rate. The front unit includes a two-car garage, while the remaining units have attached covered carports. Each unit is equipped with separate electricity and gas meters. The property also benefits from its prime location near the Rose Bowl, Old Town Pasadena, freeways, public transportation, and schools. Drive-by only--please do not disturb tenants or enter the property.
Courtesy: The Agency
Presenting the Stanton Carriage House, a historically significant investment opportunity in the desirable Grace Hill neighborhood of southwest Pasadena. Built in 1891 by William Stanton, a relative of Abraham Lincoln’s Secretary of War Edwin M. Stanton, this property was designed by renowned architect Frederick Roehrig, known for his iconic buildings on Pasadena’s historic Millionaire’s Row. Now, the Stanton Carriage House serves as a beautifully remodeled three-unit residential property that seamlessly blends timeless elegance with modern comforts. 137 Grace Terrace offers a spacious, sunlit second-floor unit with two bedrooms, one bath, a bonus room, and a versatile sunroom perfect for a home office or gym. Spanning approximately 1,800 square feet, the open layout includes a large living room and an eat-in kitchen that flows into the dining area. Two private balconies off the living room and kitchen provide stunning valley views, ideal for indoor-outdoor living. 135 Grace Terrace features a first-floor, oversized one-bedroom, one-bath unit of about 800 square feet. This apartment boasts a warm atmosphere with a private balcony off the living room and a cozy breakfast nook off the kitchen that can double as a home office. 133 Grace Terrace completes this exceptional property with a ground-floor, two-bedroom, one-bath unit of approximately 800 square feet. It offers a well-designed layout with a bright living area that flows into the kitchen, creating a welcoming environment for daily living or entertaining. Each bedroom is spacious, providing comfortable retreats. Upgrades and Amenities: All units have been fully updated with hardwood floors, tile in kitchens and bathrooms, stone countertops, modern appliances, and new plumbing and electrical systems. Additional features include central air conditioning, tankless water heaters, and private garages. Neighborhood Overview: Grace Hill was once a grand estate featuring Grace Manor and the Stanton Carriage House amid an expansive orange grove. Today, the neighborhood is known for its unique character and proximity to local shops, restaurants, and Old Town Pasadena, just five minutes away. The Stanton Carriage House is perfect for investors seeking a prime income property or homeowners looking for a spacious, historic residence with rental income potential in one of Pasadena’s most desirable neighborhoods.
We are pleased to present our newest offering in the beautiful city of Pasadena. This appealing 14-unit property is nestled in the 91101 Zip Code, surrounded mostly by residential homes in a quaint pocket of the city. Being only a few blocks away from Pasadena city hall and downtown Pasadena, this property boasts easy access to the freeway, and the city's newest and prevalent attractions alike. Offered at an extremely attractive 5% cap rate, 405 N Marengo Street is an invaluable investment for first time buyers or veteran investors alike. With an average square footage of approximately 750 SQ/FT per unit, each unit possesses ample living spaces for modern design and comfortable living. Don't miss the opportunity to acquire a pride of ownership asset in the highly coveted city of Pasadena, with substantial day one income and potential for massive future growth .
Courtesy: Marathon Real Estate Group Inc
Take a look at this unique Pasadena 5 Unit, true value-add investment opportunity in the heart of the desirable Hastings Ranch community! We are pleased to present 3201 Del Vina St, which consists of 5 units including a SFR in the front and 4 additional units in the back. This property is surrounded by nice Single family residential properties and is available for the next owner to renovate and occupy the front house. Per the assessor the property is 5 units, with 3 bedrooms and 5 bathrooms, but the property appears as a traditional SFR from the front. Could be a great opportunity for an extended family or new investor to move into the house while collecting rental income from the guest units in the back! The property has +/-35% rental upside and an opportunity to enter a market with a limited supply of deals available in the $1M range. This property is priced to sell!!! Property is being sold as is where is so bring your paintbrush!
7 Unit Apartment building in Pasadena, CA located walking distance (1 block away) from Pasadena City College (PCC). 4 units are currently vacant and used as short-term rental (Airbnb). Airbnb business will also be included in the sale (135 reviews at 4.92 rating with “Guest Favorite” award). Unit mix: 2 x (2B+1B) and 5 x (1B+1B). Laundry room on site with 1 coin operated washer and 1 coin operated dryer (both units owned and included with the sale). New rain gutters recently installed, new facia, new paint, new windows, new plumbing, new electrical panels (3 out of 7 units), drainage updated, 2 new water heaters, refurbished roof (less than 3 years ago). 7 covered parking spots on site (all carports). Excellent location with walk score of 87 and bike score of 75. Most errands can be accomplished on foot and biking is convenient on most trips. Less than 1 mile away from California Institute of Technology (Caltech), 1.1 miles away from Huntington Library, 2 miles away from Pasadena Convention Center and 4.5 miles away from Rose Bowl.
We are pleased to present Earlham Apartments, an excellent value-add, 8-unit apartment complex in Pasadena, CA. The property offers a desirable unit mix of spacious 1, 2, and 3-Bedroom units with amenities such as laminate wood flooring, stainless steel sinks, quartz countertops, electric stoves, and upgraded bathrooms. The apartment building is a gated community on a palm tree lined road and features covered parking spaces, one garage, individual gas and electric meters, copper plumbing, and a shared laundry facility. The property offers an investor the opportunity to acquire a value-add property with 22% upside, generating a 5.9% cap rate with current rents, 7.9% with market rents.
We are pleased to present a rare development and investment opportunity just 1/3 of a mile to the San Marino city limit. The new owner will have the opportunity to develop a brand new, modern 26-unit apartment building project in the Unincorporated area of Pasadena. This development boasts a contemporary design, featuring 31 on-grade parking spaces (NO SUBTERRANEAN) with a highly desirable unit mix, ensuring strong, long term rental demand. The future apartments benefit from the absence of Pasadena City rent control laws, providing a significant advantage for investors by maximizing potential returns.This opportunity is made even more attractive as the project will be delivered with fully approved plans and will be permit-ready (RTI), allowing for a expedited construction process. Additionally, the property's versatility is enhanced by the potential to create two 1+1 ADUs by converting storage rooms into additional units, bringing the total to 28 apartments. This flexibility offers an excellent chance to increase rental income and overall property value.Designed with modern living in mind, each unit will appeal to a wide range of tenants, ensuring high occupancy rates and steady cash flow. The shortage of new construction apartment properties in Pasadena will help this rare building maintain stable and high valuation.Property is currently fully vacant, so no tenant relocations required.
Courtesy: COMPASS
We are pleased to present a rare development and investment opportunity just 1/3 of a mile to the San Marino city limit. The new owner will have the opportunity to develop a brand new, modern 26-unit apartment building project in the Unincorporated area of Pasadena. This development boasts a contemporary design, featuring 31 on-grade parking spaces (NO SUBTERRANEAN) with a highly desirable unit mix, ensuring strong, long term rental demand. The future apartments benefit from the absence of Pasadena City rent control laws, providing a significant advantage for investors by maximizing potential returns.This opportunity is made even more attractive as the project will be delivered with fully approved plans and will be permit-ready (RTI), allowing for a expedited construction process. Additionally, the property's versatility is enhanced by the potential to create two 1+1 ADUs by converting storage rooms into additional units, bringing the total to 28 apartments. This flexibility offers an excellent chance to increase rental income and overall property value.Designed with modern living in mind, each unit will appeal to a wide range of tenants, ensuring high occupancy rates and steady cash flow. The shortage of new construction apartment properties in Pasadena will help this rare building maintain stable and high valuation.Property is currently fully vacant, so no tenant relocations required.
Courtesy: Growth Investment Group Pasade
5.72% CAP, 12.07 GRM ! REMODELED UNITS, FULL COPPER PLUMBING, UPDATED ELECTRICAL, TANK-LESS WATER HEATERS, MINI-SPLIT & CENTRAL AC SYSTEMS, ROOFS UPDATED, A TON OF ATTENTION TO DETAIL IN REMODELS. NO Soft-Story Retrofit. We are pleased to present this 9-unit apartment that will yield a solid return for the new buyer. The property has been very thoughtfully updated offer modern comfort and convenience all while preserving the original character and charm that so many appreciate and seek out in a property. The unit mix consists of Three 2 Bed + 1 bath units; Two 1 Bed + 1 bath units and Four Studio + 1 bath units. Couple the retro and timeless look of this property with being surrounded by single family homes and it makes sense why it features high occupancy with high rents. There are currently six on-site, parking spaces and property is separately metered for gas and electricity. A well updated, meticulously managed by the ownership and still has upside growth and potential for a new owner make this an investment not to pass up. PLEASE DO NOT DISTURB THE TENANTS.
5.72% CAP, 12.07 GRM ! REMODELED UNITS, FULL COPPER PLUMBING, UPDATED ELECTRICAL, TANK-LESS WATER HEATERS, MINI-SPLIT & CENTRAL AC SYSTEMS, ROOFS UPDATED, A TON OF ATTENTION TO DETAIL IN REMODELS. NO Soft-Story Retrofit. We are pleased to present this 9-unit apartment that will yield a solid return for the new buyer. The property has been very thoughtfully updated offer modern comfort and convenience all while preserving the original character and charm that so many appreciate and seek out in a property. The unit mix consists of Three 2 Bed + 1 bath units; Two 1 Bed + 1 bath units and Four Studio + 1 bath units. Couple the retro and timeless look of this property with being surrounded by single family homes and it makes sense why it features high occupancy with high rents. There are currently six on-site, parking spaces and property is separately metered for gas and electricity. A well updated, meticulously managed by the ownership and still has upside growth and potential for a new owner make this an investment not to pass up. PLEASE DO NOT DISTURB THE TENANTS.
LOCATION!LOCATION!LOCATION! 13 units pride of ownership,near Old Town. This is a Must See.
481 Lincoln Ave., Pasadena is a turnkey and upgraded 7 units apartment complex (Unit mix: 4x 1 Bed+1 Bath, 1x 2 Bed+1 Bath, 2x 2 Bed+2 Baths). With CAP Rate Close to 5% in a Class-A Location, and 100% OCCUPIED. ASSUMABLE EXISTING LOAN AT 3.83% UNTIL FEBRUARY, 2029!!!! 2 story building was built in 1903 and single story building was built in 1952. BOTH BUILDINGS EXTERIOR FAÇADE WERE FULLY RENOVATED AND UPGRADED IN 2022. 5 out of 7 units were also upgraded with New Paint, Kitchen, Bathroom, Flooring. Updated Roof, New Electrical Main Panels and Subpanels. New Plumbing. New Windows. New Driveway Entrance. Each unit is individually metered for electricity and gas. Parking is provided by 5 open spaces between 2 buildings. The property is situated on a large corner lot of approximately 12,011 SF lot size. Great value-add opportunity for a short or long-term investment. The property is in a highly desirable centrally located neighborhood and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
LOCATION!LOCATION!LOCATION! 12 units pride of ownership,near Old Town, Surrounded by new construction. Many units have formal dining rooms .newer paint & dual glazed windows. Upside in rents. This is a Must See. Xlnt for 1031 exchange..
Courtesy: Coldwell Banker Realty
Courtesy: Keller Williams Realty
Courtesy: CB RICHARD ELLIS
Courtesy: Keller Williams Realty
Courtesy: Keller Williams Realty
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.
