119 Los Robles Ave - Apartments FOR SALE


Pasadena, CA 91101- Old Town Pasadena
$26,000,000 USD
119 Los Robles Ave, Pasadena, CA for Sale
$26,000,000 USD
Apartments - FOR SALE
1/41
null | 4.42% Cap Rate

119 Los Robles Ave
Pasadena, CA 91101
Old Town Pasadena


HIGHLIGHTS

  • Fully Condominiumized 50-Unit + 3,700 SF Retail Asset
  • Full Suite of In-Unit Conveniences: Washer/dryer hookups, central A/C and heating, and fully equipped kitchens with stainless steel appliances
  • Desirable Private & Shared Outdoor Spaces: Select units offer private balconies or patios, complemented by a furnished courtyard
  • Secure Gated Garage Parking: On-site gated garages provide residents with convenient, secure parking

OVERVIEW

The Azzi Group of Marcus & Millichap is pleased to present 119 S Los Robles Ave, a 50-unit condominiumized mixed-use investment opportunity located in the heart of Pasadena. Completed in 2015, the property consists of 50 individually parceled residential condominium units and approximately 3,700 square feet of ground-floor retail, offering investors exceptional flexibility with multiple exit strategies. 119 S Los Robles Ave is a 50-unit condominiumized mixed-use investment opportunity located in the heart of Pasadena, one of the most desirable and supply-constrained submarkets in the San Gabriel Valley. The offering consists of a well-maintained, institutional-quality asset comprised of 50 individually parceled residential condominium units along with approximately 3,700 square feet of ground-floor retail, providing investors with strong in-place income and exceptional flexibility, including the potential for individual unit sales or a mixed-use hold strategy. Built in 2015, the fee-simple property offers a modern residential product with high-end finishes and a full suite of amenities, including in-unit laundry, central HVAC, stainless steel appliances, private balconies or patios in select units, and a furnished courtyard—supporting premium tenant demand and long-term occupancy stability. 119 S Los Robles Ave benefits from its prime Pasadena location with walkable access to Colorado Boulevard, Old Town Pasadena, and major retail and dining corridors, as well as convenient connectivity to major freeways and employment hubs throughout the greater Los Angeles area. Pasadena continues to experience strong rental demand driven by its vibrant downtown, historic charm, and proximity to major employment centers, making 119 S Los Robles Ave a compelling investment opportunity offering both stability and long-term upside.

FOR SALE DETAILS

PRICE

$26,000,000 USD

PRICE/SF

$430 USD /SF

# OF UNITS

50

PRICE/UNIT

$520,000

CAP RATE

4.42%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2015

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

PSC-

APN/PARCEL ID

5722-030-110

ASK ABOUT THIS PROPERTY

Tony AzziMarcus & MillichapMore Info

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Tony AzziMarcus & MillichapMore Info

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