940 Un St Pasadena, CA 91106-1778
- Office buildings
- 2,924 SF
- 0.06 lot acres
May 05, 2025
Current Use by Public Records
- Inga Simonian, PhD Psychology Group, Inc. / Physician / Medical Clinic
- Serious Development / Tech Support Center / (Bike/Boat/Book/etc) Store
- Lilit Melik-Bakhshyan / Marriage Or Relationship Counselor
- Telehealth Therapy in California - Erica Basso, LMFT / Psychotherapist / Service Establishment
- A Place to Turn, Marriage and Family Counseling A Professional Corporation / Crisis Center / Medical Clinic
Property Details for 940 Un St
- Year built
- 2003
- Construction
- WOOD
- Lot size
- 0.06 lot acres
- Property size
- 2,924 SF
- Zone code
- PSC-
- Property type
- Office buildings
- APN
- 5738-008-040
- APU
- 5738008040
Description
This exceptional two-story Spanish-style office building, situated on a prominent corner lot in Pasadena's desirable South Lake Business District, presents a unique investment opportunity. Built in 2003, the property boasts approximately 2,924 square feet of space, as per the assessor's records, and sits on a 4,913 square foot lot (assessor's data). The building is classified as Class B office space and offers a compelling blend of aesthetic appeal and functional design. Its 2,216 square feet of usable space is complemented by six on-site parking spaces—a rare find in this highly sought-after location. The building's design incorporates operable windows, providing abundant natural light and panoramic views in all directions. Its prime location near Colorado Blvd and Lake Ave ensures easy access to a wealth of amenities. With a Walk Score of 97, this property is a true "Walkers Paradise," offering unparalleled convenience. Currently generating income, this property is ideal for owner-users seeking a prestigious and highly accessible location for their business operations. The building's Spanish architectural style adds to its unique charm and character, making it a standout property in the heart of downtown Pasadena. This is a rare opportunity to acquire a well-maintained, income-producing office building in a thriving urban environment.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,500,000
- ML approach
- $1,475,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,115,000
- 6.5%
- $1,030,000
- 7%
- $955,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,099,000
Market price range: $1.10M - $2.39M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,640,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $1,780,000 Change: +8% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $1,465,000 Change: -11% Conversion: Difficult
- RETAIL STORES
- $1,455,000 Change: -11% Conversion: Moderate
- MEDICAL BUILDING
- $1,330,000 Change: -19% Conversion: Easy
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Pasadena
- County
- Los Angeles
- State
- California
- Longitude
- -118.131
- Latitude
- 34.1478
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
