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    435 Wilson Ave Pasadena, CA 91106

    Sponsored
    For Sale
    $6,370,000

    16-Unit Turnkey Apartment Complex

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 16-unit apartment building presents a compelling investment opportunity in Pasadena's desirable Playhouse District. Boasting a 4.30% cap rate and a pro-forma cap rate of 4.73%, this stabilized, value-add property offers significant upside potential. Completely renovated in 2023, the property features 100% occupancy and a strong NOI of $273,883, projected to increase to $301,130. The two buildings, a single-story and a two-story structure, sit on a large 17,367 sq ft R4 lot, providing ample space and potential for future development. Each of the 16 units includes upgraded interiors with new kitchens featuring quartz countertops and stainless-steel appliances, updated bathrooms, in-unit laundry, and new flooring. Exterior improvements include new landscaping, paint, signage, and a gated entrance with 17 parking spaces. The property benefits from a prime location near Old Town Pasadena, Caltech, Pasadena City College, and major freeways, ensuring high demand and stable rental income. This fee-simple property, first offered for sale since 2010, is ideal for a 1031 exchange buyer. Individual units are separately metered for gas and electricity. The property's strong financials, recent renovations, and desirable location make it an attractive investment with a price per unit of $398,125. Built in 1960, this property offers a blend of classic charm and modern upgrades.

    Property Features for 435 Wilson Ave

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Built/Renovated
    1960/2023
    Buildings
    2
    Stories
    2
    Units
    16

    HighLights

    • Prime Pasadena location near Old Town, Playhouse District, and South Lake Avenue.
    • First‑time sale since 2010.
    • Turnkey, fully upgraded (2022‑2023) 16‑unit apartment building, ideal for a 1031 exchange.
    • Strong demographics: Average household income within 1 mile is approximately $111,897.
    • Excellent access to Caltech, Pasadena City College, and freeways (210, 134, 110).
    • Turnkey apartment building with upgraded units and excellent curb appeal; 17,367 sq ft lot with R4 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Los Angeles
    State
    California
    Longitude
    -118.1284976
    Latitude
    34.153631

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    FAQs

    What type of property is this?
    Multifamily property - 16-Unit Turnkey Apartment Complex
    Where is this multifamily property located?
    The property is located at 435 Wilson Ave Pasadena, CA.
    What is the asking price?
    The asking price for this property is $6,370,000.
    What are key features of this property?
    This property features: Prime Pasadena location near Old Town, Playhouse District, and South Lake Avenue.; First-time sale since 2010.; Turnkey, fully upgraded (2022-2023) 16-unit apartment building, ideal for a 1031 exchange.
    Request Owner's contact information
    435 Wilson Ave Pasadena, CA 91106
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    435 Wilson Ave Pasadena, CA 91106
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