Seven-Unit Apartment Building with NN
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For Sale
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146-154 N Holliston Avenue, Pasadena, CA 91106
Seven-unit apartment property zoned for residential multifamily and currently leased under a double net (NN) to a rehabilitation center.
Property Size5,443 SF
Lot Size0.28 Acres
Price / SF$550.25
Days on Market5
Property Features for 146-154 N Holliston Avenue
General Information
Standard status
Active
Size
5,443 SF
Lot size
0.28 Acres
Property subtype
Mixed Use
Additional Details
Gross Income
$224,018
Multifamily Units
7
Building Details
Year Built
1922
Buildings
5
Tenancy
Single
Listing Agency:
Avison Young - North Los Angeles
Listed By:
Sean Konishi · License #CA 02064387
Source:
Crexi
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 2:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Avison Young - North Los Angeles
Investment Insights
Based on property information with market context.
The property at 146–154 N Holliston Avenue consists of five apartment buildings totaling 5,443 square feet on a 12,313-square-foot lot (0.28 acres). Originally built in 1922, the site is zoned for residential multi-family use with seven units.
The buildings are currently leased to a rehabilitation center under a double net (NN) lease. The lease includes a scheduled rent increase on September 1, 2026.
Positioned in a central area near Pasadena City College, Caltech, and the Playhouse Village, the property is designed for steady demand from nearby residential and specialty-use users while retaining historic character through the existing building improvements.
The buildings are currently leased to a rehabilitation center under a double net (NN) lease. The lease includes a scheduled rent increase on September 1, 2026.
Positioned in a central area near Pasadena City College, Caltech, and the Playhouse Village, the property is designed for steady demand from nearby residential and specialty-use users while retaining historic character through the existing building improvements.
Key Highlights
- Five‑building apartment property totaling 5,443 SF built in 1922
- Zoned for residential multi‑family use with seven units
- 12,313 SF lot size (0.28 acres)
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $169.8k | $31.20 |
| − Vacancy | −$17.0k | −$3.12 |
| EGI | $152.8k | $28.08 |
| − OpEx | −$61.1k | −$11.23 |
| NOI | $91.7k | $16.85 |
5,443 SF · lease $31.20/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Apartment 5plus
$108.12M
$94.61M – $126.14M
NOI $7,568,599 @ 7.0% cap · market cap 252.71%
Second Best
Healthcare Medical
$1.31M
$1.15M – $1.53M
NOI $91,704 @ 7.0% cap · market cap 3.06%
Theoretical Best
Multifamily LT 5
$122.52M
$107.21M – $142.94M
NOI $8,576,553 @ 7.0% cap · market cap 286.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 91106, CA
24,172
Population
11,809
Households
2
Avg Household Size
38
Median Age
63%
College-Educated
94%
High-School Grad
2.7 sq mi
ZIP Area
8,953
Density / Sq Mi
$89,213
Median Household Income
$59,700
Median Earnings
$2,096
Median Rent
$966,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit apartment property zoned for residential multifamily and currently leased under a double net (NN) to a rehabilitation center.
Where is this apartment building located?
The property is located at 146-154 N Holliston Avenue Pasadena, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Five‑building apartment property totaling 5,443 SF built in 1922; Zoned for residential multi‑family use with seven units; 12,313 SF lot size (0.28 acres)
