$6,800,000
259 N Euclid Avenue
Pasadena, CA, 91101
Property 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.
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
Price:
$6,800,000
MLS #:
AR24215656
Status:
Active
Baths:
0
Address:
259 N Euclid Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
647pasadenasw
City:
Pasadena
Listed Date:
Oct 17, 2024
State:
CA
ZIP:
91101
Lot Size:
11,811 sqft / 0.27 acres (approx)
Year Built:
1955
Schools
Interior
Accessibility Features
None
Appliances
Gas Range, Refrigerator
Cooling
Wall/ Window Unit(s)
Fireplace Features
None
Flooring
Carpet, Vinyl, Wood
Heating
Wall Furnace
Interior Features
Copper Plumbing Partial
Window Features
Double Pane Windows
Exterior
Community Features
Urban, Valley
Electric
Standard
Fencing
None
Foundation Details
Pillar/ Post/ Pier
Garage Spaces
0.00
Lot Features
Lawn, Level with Street, Lot 10000-19999 Sqft, Rectangular Lot, Level, Near Public Transit, Value In Land
Parking Features
Assigned, Attached Carport
Parking Spots
9.00
Pool Features
None
Roof
Asphalt
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
City Lights
Water Source
Public
Financial
Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
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Courtesy of Growth Investment Group Pasade. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Mohr Real Estate Group include the name of the listing broker. Neither the listing company nor Mohr Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
259 N Euclid Avenue
Pasadena, CA
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