259 N Euclid Avenue
Pasadena, CA 91101
0.27 acres | #AR24215656
Description
An Irreplaceable location only 2 properties away from Courthouse and City Hall. A prime 23-unit 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 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, four (4) junior Studio, and four (4) Bachelor (no kitchen) units.
Approximately 10 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 in the back of the lot. There is a total of 9 spaces with 8 are 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.
Property Details
- Utility FeaturesCableConnected, ElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected, WaterConnected
- Lot DescriptionLawn, Level, NearPublicTransit, RectangularLot, StreetLevel, ValueInLand
- FoundationPillarPostPier
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- ViewCityLights
- Original List Price$6,800,000
- MLS #AR24215656
- MLS #AR24215656
- Property SubtypeApartment
- Cost6800000
- Acres0.2711
- Utility SourcePublic
- Year Built1955
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Han Chen (#AR45550)
Listing Office: Growth Investment Group Pasade (#31317)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
