$6,500,000

259 N Euclid Avenue, Pasadena, CA 91101

  • 1 bed |
  • 4 baths
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon0.27acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

Prime 23-unit Value-add in heart of Pasadena Civic Center, Walk to Old-Town, High 5.5% ACTUAL CAP Rate w/ Close to 7% Proforma CAP in a Class-A Location, Efficient Unit Mix, High Density Commercial Zoned Lot, Irreplaceable Location with Over 5% Cash-on-Cash Return. a prime value-add multifamily investment opportunity located in one of the best areas in Pasadena. Situated in the Civic Center District and several properties away from the Pasadena Courthouse and City Hall, this property offers a SUPERB and unbeatable location, perfect for a savvy investor as a buy and hold asset. With this combination of a high-quality location and excellent unit mix, the property provides younger professional tenants with most of the attractions the City of Pasadena has to offer. Literally within walking distance to shopping, dining, and transportation, this location has a Walk and Bike Score of 88. The property is being offered for sale at below replacement costs for such a high-quality location and provides an attractive 5.51% Actual CAP Rate and a Low Price per unit. The property is a two-story apartment with some upgrades. It was built in 1955 and has a total of 12,780 SF and situated on a 11,811 SF Lot (Zoning is PSC CD-MU-G). It is surrounded by a much higher density commercial/apartment building. Unlike other apartments in the area, this property has parking (9 spaces in the back) which provides excellent amenities to young professionals living in the building. It offers an excellent unit mix for this urban area with eight (8) large 1bed+1bath, seven (7) large Studio, five (5) junior

Listing Status:
Active
Listing Office:
Growth Investment Group Pasade : 626-594-4900
Listing Agent:
Handoko Chen : 626-224-2495
MLS ID:
AR25196269
  • A/C: Wall/Window
  • General: N/K
  • Pool: N/K
  • General: 2 Story
  • HOA Amenities: 0.0
  • Originating MLS: California Regional MLS
  • County: Los Angeles
  • Zoning: Assessor5723004016
  • Fencing: N/K
  • Source: California Regional MLS

This listing courtesy of Handoko Chen, Growth Investment Group Pasade

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

M

Madison Elementary School

515 E Ashtabula St, Pasadena, CA, 91104

Grades PK-5

0.64 miles away

M

McKinley School

325 S Oak Knoll Ave, Pasadena, CA, 91101

Grades KG-8

0.86 miles away

R

Rose City High (Continuation)

351 S Hudson Ave, Pasadena, CA, 91101

Grades 9-12

0.88 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.