Overview
Pasadena Multifamily Portfolio For Sale
This 20-unit apartment portfolio consists of two properties located in Pasadena, California. One property, located at 31 N Parkwood, is an 8-unit garden-style apartment building constructed in 1958. It features 5,322 square feet of living space on a 10,100 square foot lot zoned R3. The unit mix comprises one 3-bedroom, 2-bathroom unit and seven 1-bedroom, 1-bathroom units. The other property, located at 1837 E Colorado, is a 12-unit single-story apartment building constructed in 1923. It offers 4,608 square feet of living space on an 8,994 square foot lot zoned MU-C (Commercial). All twelve units are 1-bedroom, 1-bathroom units. All units in both properties have been upgraded with new flooring, kitchens with dishwashers, bathrooms, stainless steel appliances, and in-unit laundry machines. The properties feature secured gate entrances and security cameras in common areas. Parking is provided by 22 spaces located on the 31 N Parkwood lot, including 2 garage spaces, 8 carport spaces, and 12 open spaces (2 tandem); buyer to verify. All windows have been upgraded with double-pane windows. The 1837 E Colorado property has drought-tolerant landscaping in the front. Each unit is individually metered for electricity and gas. The 1837 Colorado units have individual water heaters, with 7 recently replaced, while 31 N Parkwood has master water heaters. Situated near Pasadena City College and Caltech, the properties are located near Allen Ave and south of the 210 Freeway. Old Town Pasadena and Lake Ave Shopping District are nearby. The location provides access to the Rose Bowl area, The Paseo on Colorado, museums, theaters, entertainment venues, groceries, cafes, and shops. The properties offer access to FWY 210 and FWY 134, providing access to employment centers in downtown Los Angeles, Burbank, and Glendale via the 134 Freeway. FWY 110, which connects to Downtown Los Angeles, is also nearby.
