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    118-128 Fair Oaks Ave Pasadena, CA 91103

    Sponsored
    For Sale
    $8,350,000

    Historic Charm, Prime Location, Owner/User

    Property size:
    10,527 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional two-story, 10,527 square foot creative office building at 118-128 N. Fair Oaks Ave in Pasadena, CA, presents a rare investment opportunity. Built in 1905 with various renovations throughout its history, this Class B property boasts an Early California Craftsman-inspired interior and exterior featuring tall, narrow windows, extended brick cornices, and a vintage neon sign. The building sits on an 11,112 square foot lot and includes 12 parking spaces. Located in the highly desirable Old Pasadena, this fee-simple property is zoned CD-MU-C and offers a prime location directly across from the recently completed 10 West Walnut mixed-use development, encompassing over 210,000 square feet of office space, retail, and residential units. The area is known for its vibrant revitalization, preserved historic charm, and affluent demographics, with an average household income of $158,194 within a three-mile radius. Its proximity to Colorado Boulevard, the Rose Parade route, and the Rose Bowl further enhances its desirability. The asking price is $8,350,000 ($793.19/sq ft), with an occupancy date of December 14, 2024. Old Pasadena's active marketing and management district contribute to a thriving and well-maintained environment, attracting both residents and tourists. This is a generational opportunity to acquire a trophy asset in a high-barrier-to-entry market.

    Property Features for 118-128 Fair Oaks Ave

    General Information

    Property type
    Office space
    Square Feet
    10,527 SF
    Class
    B

    Building Details

    Year Built
    1905
    Stories
    2

    HighLights

    • Exceptional investment opportunity in a highly desirable Old Pasadena location.
    • Prime Fair Oaks Ave. location, directly across from the new 10 West Walnut mixed‑use development (210,000 sf office, 17,500 sf retail, 400 apartments), anchored by Dine Brands headquarters (92,000 sf).
    • Old Pasadena offers a vibrant, revitalized historic district with strong appeal to residents and tourists.
    • Two blocks from Colorado Blvd., benefiting from Rose Parade foot traffic and proximity to Rose Bowl events.
    • Affluent demographics with an average household income of $158,194 within a 3‑mile radius.
    • Featured in Vogue Magazine as an up‑and‑coming creative hub.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Los Angeles
    State
    California
    Longitude
    -118.1505059
    Latitude
    34.1480426

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    FAQs

    What type of property is this?
    Office space - Historic Charm, Prime Location, Owner/User
    Where is this office space located?
    The property is located at 118-128 Fair Oaks Ave Pasadena, CA.
    What is the asking price?
    The asking price for this property is $8,350,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity in a highly desirable Old Pasadena location.; Prime Fair Oaks Ave. location, directly across from the new 10 West Walnut mixed-use development (210,000 sf office, 17,500 sf retail, 400 apartments), anchored by Dine Brands headquarters (92,000 sf).; Old Pasadena offers a vibrant, revitalized historic district with strong appeal to residents and tourists.
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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
    118-128 Fair Oaks Ave Pasadena, CA 91103
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