Property Detail

Description

We are pleased to present the unique opportunity to acquire 148 N Mar Vista Avenue, five individually-parceled condos, in the highly coveted city of Pasadena. Situated on a meticulously landscaped ±8,682 square foot lot with a total building area of ±7,450 square feet, the property was built in 2009 and offers relatively low maintenance, making it highly attractive to long-term investors and buyers seeking the flexibility to sell each unit individually. The five-unit asset sits south of Interstate 210 and a few blocks from Colorado Boulevard, offering convenient access to grocery stores, pharmacies, restaurants, and specialty retail, including Target, Apple Store, Vroman’s Bookstore, and Urth Café. Mar Vista Avenue features a unit mix of one 3-bedroom/3-bathroom and four 3-bedroom/3.5-bathroom two-story, townhouse-style residences, with a generous average unit size of ±1,496 square feet. Built in 2009, the community is meticulously maintained and offers a well-appointed amenity package designed for comfort and convenience. Interior features include open-concept kitchens with stainless steel appliances and granite countertops, in-unit stackable washers and dryers, primary suites with double vanities, and spacious private patios and balconies. The community provides residents with a gated entry, a courtyard with seating area, lush landscaping, a subterranean parking garage, an elevator, two stairwells, and ample street parking. The property’s location is a significant driver of value, situated within walking distance to Pasadena City College and near Lake Metro Rail Station on the Metro A Line, with direct light rail service to Downtown Los Angeles. Residents are just minutes from the Pasadena Playhouse District, Old Pasadena, The Shops on Lake Avenue, and Paseo Colorado, with easy access to the 210, 134, 110, 2, and 5 Freeways. Within 20 miles are the Huntington Library, Rose Bowl, Dodger Stadium, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Bowl, and Universal Studios, offering a unique blend of urban accessibility and recreation. 148 N Mar Vista Avenue is a stable, newly built asset in Pasadena’s high-demand submarket. Whether for a 1031 Exchange buyer, a first-time investor, or a seasoned investor, this offering of five prime condos provides long-term stability and significant growth potential underpinned by strong economic and demographic fundamentals.