259 N Euclid Avenue, Pasadena, CA 91101

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Sheila Dadashzadeh

[email protected] +1(858) 375-6785

$6,500,000

Est. payment - /mo

1 Bed

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25196269

Bedrooms 1

Property Sub-Type Res Income 2-4 Units

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

Location

State CA

County Los Angeles

Zoning Assessor

Direction FWY 210 exit Fair Oaks Ave - go south and then left on Walnut St and left on Euclid Ave.

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 5723004016

Acceptable Financing Cash

Listing Terms Cash

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Listed by Handoko Chen Growth Investment Group Pasade

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Sheila Dadashzadeh

+1(858) 375-6785

Agent | CA BRE #01835591

Agent CA BRE #01835591

San Diego Communities

259 N Euclid Avenue Pasadena, CA 91101

Sheila Dadashzadeh

Key Details

Location

Interior

Exterior

Building

Others

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