1837 E Colorado Blvd - Apartments FOR SALE


Pasadena, CA 91107- Lamanda Park
$5,100,000 USD
310-780-1899
1837 E Colorado Blvd, Pasadena, CA for Sale
$5,100,000 USD
Apartments - FOR SALE
1/37
null | 6.01% Cap Rate

1837 E Colorado Blvd
Pasadena, CA 91107
Lamanda Park


HIGHLIGHTS

  • 20 Total Units in Pasadena
  • 31 N Parkwood Ave: 8 Units | (1) 3-Bed/2-Bath, (7) 1-Bed/1-Bath
  • 1837 E Colorado Blvd: 12 Units | (12) 1-Bed/1-Bath (All Remodeled)
  • Strong In-Place Income – 6.01% CAP | 10.88 GRM
  • Great Potential for Upside – 8.19% Market CAP | 8.74 Market GRM
  • Low Cost Per Unit: $255K/Unit. Prime Pasadena Location Near PCC, Caltech, Retail, and Transit

OVERVIEW

12-unit building (12 legal Studios converted to 1-bed layouts, Total Sq. Ft. 4,608) at 1837 E Colorado Blvd (APN: 5746-017-030, Lot Size 8,997) and an 8-unit building (1 three-bed two-bath and 7 one-bed one-bath units, Total Sq. Ft. 5,322) at 31 N Parkwood Ave (APN: 5746-017-092, Lot Size 10,103). Both properties are being sold together and concurrently as one combined 20-unit portfolio. These well-maintained buildings are located near Pasadena City College with strong current cashflow and consistent renter demand. The Colorado Blvd property features recently renovated units where all studios were converted into functional 1-bed layouts, along with updated interiors and improved efficiency. The Parkwood building offers a balanced mix of larger floorplans and stable tenancy. Both assets share onsite parking, landscaping, and operational efficiency. This 20-unit portfolio provides an excellent opportunity for an investor seeking steady income in a high-demand Pasadena rental corridor. Pasadena is one of the most recognized and desirable cities in Los Angeles County and is known for its strong rental market, centralized location, public transportation access, employment base, and popular local amenities where tenants can live, work, and play locally. *Translation services available upon request, including Cantonese, Mandarin, Russian, Armenian, Farsi, and more

FOR SALE DETAILS

PRICE

$5,100,000 USD

PRICE/SF

$514 USD /SF

# OF UNITS

20

PRICE/UNIT

$255,000

CAP RATE

6.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

20 Units | 2 Joining Properties Sold Together

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,100 SF

ZONING

PSR

APN/PARCEL ID

5746-017-030

ASK ABOUT THIS PROPERTY

Brett LyonLyon Stahl Investment Real Estate, Inc.More Info
310-780-1899

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Brett LyonLyon Stahl Investment Real Estate, Inc.More Info
310-780-1899

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