Description
37 Units TURNKEY Next to Old Pasadena | 6.00% Cap (Self-Managed) | Ideal 1031 Exchange with 100% Upgraded Interiors & Exteriors, and 7 New ADUs | Fully Sprinklered + Brand New Electrical Panels & Subpanels, and more. 435 N Euclid Ave, an exceptional 37-unit turnkey apartment community located just blocks from historic Old Pasadena. Offering an attractive going Cap Rate of 6.00% (under a self-managed scenario) alongside future rental upside, this asset is the premier acquisition for investors seeking immediate stability and zero deferred maintenance. The comprehensive 2022-2026 renovation introduced 7 brand-new ADUs to the site, bringing the property to an impressive ±25,536 square feet of building space on a large 23,268 square-foot R3-zoned lot. Surrounded by stellar demographics featuring over $126,000 in average household income within a one-mile radius, this asset commands premium rents in one of Southern California's strongest submarkets, and offers easy access to all amenities City of Pasadena has to offer. Originally built in 1965, the two-story Mid-Century Modern building has been meticulously modernized while retaining its distinctive architectural charm and welcoming center courtyard. The highly desirable unit mix consists of nine (9) 2-bedroom/2-bathroom, two (2) 2-bedroom/1-bathroom, twenty-five (25) 1-bedroom/1-bathroom, and one (1) studio unit. Floor plans are exceptionally bright and spacious, featuring large windows and private balconies in most units. Every single interior has been gutted and upgraded to luxury standards, boasting new quartz kitchens with dishwashers, designer bathrooms, vinyl plank flooring, in-unit laundry, and individual mini-split HVAC systems in every room. Operationally, the building's heavy lifting is completely finished. The property features fully sprinklered units, upgraded electrical panels and subpanels, and separate meters for electricity and gas. Access is tightly controlled via a secured entrance, electronic RFI unit locks, and a gated parking lot providing 38 total spaces. The building is serviced by master water heaters, has ADA ramp, and has a total of 38 parking spaces (11 are tandem on the side). Situated on a quiet, mature, tree-lined street, tenants are minutes from the Metro Gold Line and the world-class shopping and dining corridors of Colorado Boulevard and Lake Avenue. Near Pasadena's historic City Hall, it sits just minutes from the California Institute of Technology, PCC, and FWYS.
Details
| MLS # | AR26218872 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1965 |
| Days On Site | 13 |
| Listing Provided By | Growth Investment Group Pasade | Handoko Chen |
Features
| SQ Feet | 25,356 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 37 |
| Building(s) | 1 |
| Acreage | 0.54 |
| Property View | Yes |
Interior
| Cooling | Whole House Fan |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Balcony, Partially Furnished, Stone Counters, Recessed Lighting, Storage, Unfurnished, Wired For Data |
| Appliances | Gas Range, Dryer, Washer |
| Fireplace Yes / No | No |
Exterior
| Roof | Flat |
|---|---|
| Security Features | Closed Circuit Cameras, Carbon Monoxide Detectors, Fire Detection System, Fire Sprinkler System, Resident Manager, Smoke Detectors |
| Construction Materials | Stucco |
| Foundation Details | Raised |
| Lot Features | Lawn, Landscaped, Level, Near Public Transit, Rectangular Lot, Street Level |
| Fencing | Wrought Iron |
Parking
| Parking Features | Assigned, Covered, Tandem |
|---|---|
| Garage Yes / No | No |
Utilities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected |
|---|---|
| Electric | Standard |
| Sewer | Public Sewer |
Location
| Community Features | Suburban, Valley |
|---|
Taxes
| Property | 147116 |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pasadena |
| Zip Code | 91101 |
| Area | 647 Pasadena (SW) |
| Listing VS Median (in 91101) | |
Price: $13,500,000 low | high Med: $719,000 sqft: 25,356 low | high Med: 1,145 $ / sqft: $532 low | high Med: $628 On site: 13 low | high Med: 26 | |
Market Activity 91101
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pasadena |
| Zip Code | 91101 |
| Area | 647 Pasadena (SW) |
| Listing VS Median (in 91101) | |
Price: $13,500,000 low | high Med: $719,000 sqft: 25,356 low | high Med: 1,145 $ / sqft: $532 low | high Med: $628 On site: 13 low | high Med: 26 | |