Renovated 1925 Pasadena Office
For Sale
Contact for pricing
55 Waverly Dr, Pasadena, CA 91105
Redone office building with live-work unit and high occupancy.
Property Size13,880 SF
Price / SF$324.21
Days on Market2952
Property Features for 55 Waverly Dr
General Information
Standard status
Active
Size
13,880 SF
Class
B
Total Parking Spaces
2
Property subtype
Office
Zoning
PSC
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Site & Location
Neighborhood
Singer Park Neighborhood Association
Building Details
Year Built
1925
Year Renovated
1997
Buildings
1
Stories
1
Units
9
Tenancy
Multi
Listing Agency:
MacVaugh & Co
Listed By:
Hoss MacVaugh · License #CA 00971669
(626) 255-2308
Source:
Crexi
Added: Sep 24, 2018
Changed: Oct 4
Last Checked: Oct 23 at 4:22AM
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 MacVaugh & Co
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Investment Insights
Based on property information with market context.
This renovated 1925 office building was last updated in 1997. The property is 100% occupied by nine tenants. Unit 101 features a live-work space and includes two parking spaces. The interior design of each unit incorporates an industrial aesthetic, characterized by exposed brick walls, high ceilings, bow truss ceilings, and concrete flooring. The building's location offers a quiet environment while remaining a short drive from Old Pasadena. The property has a size of 13880 square feet.
Key Highlights
- 100% Occupied with Nine (9) Tenants
- Unit 101 has Live‑Work Capability
- Convenient Location: Quiet feel, yet close to Old Pasadena
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$297,310
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,946,200
$5.9M
Cap Rate 7%
$4,247,286
$4.2M
Cap Rate 9%
$3,303,444
$3.3M
Market Conditions
NOI Build-Up for 13,880 SF
Gross rent
$466.4K $33.60/SF
− Vacancy
−$70.0K −$5.04/SF
EGI
$396.4K $28.56/SF
− OpEx
−$99.1K −$7.14/SF
NOI
$297.3K $21.42/SF
Area
Pasadena, CA
Vacancy
15.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,946,200
Cap Rate 7%
$4,247,286
Cap Rate 9%
$3,303,444
Alternative Uses
Best Use
Office B
$4.25M
$3.72M – $4.96M
NOI $297,310 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$312.44M
$273.38M – $364.51M
NOI $21,870,761 @ 7.0% cap · market cap 486.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
7,303
Businesses Nearby
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Business Placement
Demographics for 91105, CA
13,869
Population
6,773
Households
2
Avg Household Size
48
Median Age
73%
College-Educated
98%
High-School Grad
4.2 sq mi
ZIP Area
3,302
Density / Sq Mi
$156,835
Median Household Income
$97,402
Median Earnings
$2,988
Median Rent
$1,615,700
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Redone office building with live-work unit and high occupancy.
Where is this office building located?
The property is located at 55 Waverly Dr Pasadena, CA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 100% Occupied with Nine (9) Tenants; Unit 101 has Live‑Work Capability; Convenient Location: Quiet feel, yet close to Old Pasadena
