259 N Euclid Avenue

Pasadena, CA 91101

$6,500,000

List Price

1955

history_edu Year Built

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 Studio, and three (3) Bachelor (no kitchen) units. The unit mix is perfect and suitable for the location, as it encourages young professionals and a slightly higher turnover, all for a new owner to recapture the future market rent. The location would provide consistent and high demand for rental units like this. Approximately 11 out of 23 units have had upgrades. Some units have new double pane windows, and the upgraded units have new wood flooring and updated plumbing. All units have smooth ceiling and excellent layout. Each unit is separately metered for electricity and gas. Parking is at the back of the lot. There is a total of 9 spaces with 8 assigned to units, and 1 is rented. There is an additional shared laundry room in the basement for the community, and a master water heater.

Listing Information

List Price $6,500,000
Status Active
MLS AR25196269
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1955
Lot Size 11,811
Structure Size N/A
Courtesy Of Growth Investment Group Pasade
Listing Agent Handoko Chen DRE#01749321
Co-Listing Agent Robert Renshaw DRE#01332831

Interior Features

Laundry Information

Location(s) Common Area

Total Bedroom

Bedrooms N/A

Total Bathroom

Bathrooms N/A

Flooring Information

Material Carpet, Vinyl, Wood

Fireplace Information

Features None

Cooling Type

Cooling Type Wall/Window Unit(s)

Heating Type

Heating Type Wall Furnace

Exterior Information

Other Structures

Views City Lights

Maps

home_work Nearby Properties

Listing information courtesy of: Handoko Chen, Robert Renshaw, Growth Investment Group Pasade 6265944900. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 1st, 2025 at 7:00 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.