1711 Fremont Ave - Apartments FOR SALE


South Pasadena, CA 91030
$2,880,000 USD
626-877-8728
1711 Fremont Ave, South Pasadena, CA for Sale
$2,880,000 USD
Apartments - FOR SALE
1/27
null | 4% Cap Rate

1711 Fremont Ave
South Pasadena, CA 91030


HIGHLIGHTS

  • First time on the market in over 18 years (last sold September 2007), proudly owned and meticulously maintained by the same family.
  • Pro Forma Cap Rate 4.02% at $2,880,000 asking price with NO RENT CONTROL and no/minimal additional capital needed
  • Located in the award-winning, top-notch South Pasadena Unified School District, with walking distance (5-10 minutes) to all three schools
  • Prime position in a safe, quiet, tree-lined neighborhood, one block from Fair Oaks Ave, near parks, Metro Gold Line, and vibrant shops/restaurants
  • Four units brought to near-new condition through extensive owner remodels in past year
  • Four units delivered vacant, providing immediate upside to stabilize at pro forma NOI of $115,265 through market-rate leasing in a high-demand area

OVERVIEW

1711 Fremont Ave is a well-maintained 1950-built (extensively owner-remodeled in recent years) 6-unit apartment building offering 5,315 square feet on a 9,257 sq ft lot, proudly situated in the award-winning, top-notch South Pasadena Unified School District with NO RENT CONTROL. Residents enjoy a short 5-10 minute walk to all three schools — South Pasadena High School, Middle School, and A+-rated Arroyo Vista Elementary — making it ideal for families in one of the area’s safest and most quiet residential neighborhoods. The unit mix features three 2-bedroom units (Units A and B are identical 2-story townhouse-style layouts with 2 bedrooms and 1.5 baths upstairs/downstairs; Unit F offers 2 bedrooms, 1 bath, and a huge private balcony) and three 1-bedroom/1-bath units. Four units have been brought to near-new condition with modern kitchens (stainless steel sinks, dishwashers, cabinetry), updated bathrooms, new flooring, paint, and lighting. Units C, D, and E share identical floor plans, while flooring finishes vary slightly across the remodeled units. The property includes covered carport parking for every unit, upgraded electrical panels, a sprinkler system, window air conditioning units, and a shared on-site laundry room providing additional income. Just one block from Fair Oaks Ave, the building is conveniently near parks, the Metro Gold Line, and vibrant shops/restaurants along Fair Oaks and Mission Street. This combination of premier school access, extensive owner upgrades, and rarity — first time available in over 18 years — presents a compelling value-add opportunity with a pro forma cap rate of 4.02% at the $2,880,000 asking price, achieved by leasing the four vacant units to market rents. Four units will be delivered vacant at closing (several strong applications with excellent credit currently under review and on hold — contact agent for details). The sale is subject to the seller completing a 1031 exchange with a preferred closing window of February to March 2026.

FOR SALE DETAILS

PRICE

$2,880,000 USD

PRICE/SF

$542 USD /SF

# OF UNITS

6

PRICE/UNIT

$480,000

CAP RATE

4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,252 SF

ZONING

R310000, S Pasadena

APN/PARCEL ID

5319-023-008

ASK ABOUT THIS PROPERTY

Rita ChioFirst Choice Realty & Investment, Inc.More Info
626-877-8728

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Rita ChioFirst Choice Realty & Investment, Inc.More Info
626-877-8728

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