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    55 Waverly Dr Pasadena, CA 91105

    Sponsored
    For Sale
    $6,940,000

    13,015 SF, 9 Units, 100% Occupied

    Property size:
    13,880 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Pasadena creative office building, situated at 55 Waverly Dr, presents a compelling investment opportunity. The 13,015 square foot property, built in 1925 and renovated in 1997, boasts nine fully occupied units, each featuring a unique industrial aesthetic. Exposed brick walls, high ceilings, and concrete flooring create a desirable workspace. Unit sizes range from 860 to 4,000 square feet, with one unit offering live-work capabilities and two parking spaces. The building sits on a 13,287 square foot lot, zoned PSC, and benefits from a ground lease with nine years remaining. Currently operating under a gross lease structure with credit-rated tenants, the property enjoys a 100% occupancy rate and features annual rent bumps of 3%. Its convenient location offers a quiet atmosphere while providing easy access to Old Pasadena and South Pasadena, as well as the Metro Gold Line and the 210/134 freeways. The asking price is $6,940,000. This stabilized, value-add investment presents a rare chance to acquire a high-performing asset in a desirable location. The property's strong tenant base and attractive features make it an ideal addition to any portfolio. The APN is 5713-028-014.

    Property Features for 55 Waverly Dr

    General Information

    Property type
    Office space
    Square Feet
    13,880 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1925/1997
    Buildings
    1
    Stories
    1
    Units
    9

    HighLights

    • 1925 Construction Year
    • 13,287 SF Lot Size
    • Nine fully occupied units
    • 1997 Renovation
    • PSC Zoning
    • APN: 5713‑028‑014
    Property Profile Location Intelligence

    Current Use by Public Records

    Further. Marketing Agency Concept Design Academy Art School Code French Video Production Service 3Kicks Art Studio Art Center Nicolas's Insulation Contractor ... Insulation Contractor

    Suggested Use

    Restaurant Realty agency Building Supply Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing 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
    -118.1515367
    Latitude
    34.1399843

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    FAQs

    What type of property is this?
    Office space - 13,015 SF, 9 Units, 100% Occupied
    Where is this office space located?
    The property is located at 55 Waverly Dr Pasadena, CA.
    What is the asking price?
    The asking price for this property is $6,940,000.
    What are key features of this property?
    This property features: 1925 Construction Year; 13,287 SF Lot Size; Nine fully occupied units
    Request Owner's contact information
    55 Waverly Dr Pasadena, CA 91105
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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
    55 Waverly Dr Pasadena, CA 91105
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