1124 Cordova St - Apartments FOR SALE


Pasadena, CA 91106- South Lake
$2,195,000 USD
626-487-4300
1124 Cordova St, Pasadena, CA for Sale
$2,195,000 USD
Apartments - FOR SALE
1/9
null | 4.23% Cap Rate

1124 Cordova St
Pasadena, CA 91106
South Lake


HIGHLIGHTS

  • GREAT RENTAL LOCATION
  • CLOSE TO SOUTH LAKE AVENUE CORRIDOR
  • WALKING DISTANCE TO CALTECH AND CLOSE TO PCC
  • NEW ROOF AND WELL MAINTAINED PROPERTY

OVERVIEW

We are pleased to present this excellent opportunity to acquire a well-maintained 6-unit multifamily property in a highly desirable Pasadena located in between S. Lake Ave, Caltech and PCC. The property offers an attractive unit mix consisting of two 2-bedroom/1-bath units, three 1-bedroom/1-bath units, and one oversized 1-bedroom/1-bath unit. The property has benefited from numerous significant capital improvements, including brand new roofs in 2026, copper plumbing, some updated windows, recently painted and many interior updates and remodels providing a new owner with a well-maintained asset where many major building components have already been addressed. The location is a standout feature. Situated less than a mile to prime South Lake Avenue corridor, Erewhon market and many dining and shopping options. Even closer are Caltech and Pasadena City College, two of Pasadena’s most prominent educational institutions and major employment and housing-demand drivers. With only six units, a strong and desirable unit mix, substantial building improvements, and an excellent Pasadena location, this property represents a compelling opportunity for an investor seeking a very predictable multifamily asset with strong long-term rental demand and appreciation potential in one of Southern California’s most desirable rental markets. PLEASE DO NOT DISTURB ANY TENANTS OR WALK AROUND THE PROPERTY

FOR SALE DETAILS

PRICE

$2,195,000 USD

PRICE/SF

$498 USD /SF

# OF UNITS

6

PRICE/UNIT

$365,833

CAP RATE

4.23%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1898

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

R3, Pasadena

APN/PARCEL ID

5735-016-006

ASK ABOUT THIS PROPERTY

Alexander MetaxasRealty Investment AdvisorsMore Info
626-487-4300

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Alexander MetaxasRealty Investment AdvisorsMore Info
626-487-4300

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.