Property Detail

Description

UPDATE!- UNIT B to be delivered vacant by August 15th! Stabilized Pasadena Fourplex! Strong Fundamentals, Clear Value-Add Upside. Individually metered units in Pasadena's desirable Catalina Villas neighborhood. The heavy lifting is done - electrical fully upgraded within the past 10 years, plumbing partially updated, and roof redone in 2009/2010 and in good standing. Each unit includes in-unit washer/dryer. Tenants pay their own trash service. Built in 1924, the building offers four one-bedroom, one-bath units averaging approximately 600 square feet each, with hardwood and tile flooring, wall heaters, and window AC throughout. Units vary in renovation level giving a new owner a unit-by-unit upgrade path and an estimated 10-15% rental upside over current in-place rents without an all-or-nothing capital commitment. Two detached garages currently owner-occupied transfer to a new buyer as an untapped income line. Zoned RM-32, the property permits up to 7 units offering meaningful development upside beyond the in-place income for buyers looking to expand. Located just north of the Playhouse District with walkable access to coffee shops, restaurants, and boutiques. Caltech, Pasadena City College, and Downtown Pasadena are all within close reach. Metro Gold Line and 210 Freeway access round out a location with broad, durable tenant appeal. In-place income, no major deferred maintenance, and a clear value-add thesis. Pasadena's multifamily inventory stays constrained. Properties like this don't sit. DRIVE BY ONLY. DO NOT DISTURB TENANTS.