720 Santa Barbara St - Multi-Family FOR SALE


Pasadena, CA 91101- Olive Heights
$2,600,000 USD
310-968-2454
720 Santa Barbara St, Pasadena, CA for Sale
$2,600,000 USD
Multi-Family - FOR SALE
1/9
null | 3.37% Cap Rate

720 Santa Barbara St
Pasadena, CA 91101
Olive Heights


HIGHLIGHTS

  • Diverse Unit Mix: Four separate structures including two 1950s fourplexes (eight 1-bed units), a charming 1938 2-bed/2-bath house, and a classic 1918
  • Prime Pasadena Location: Located in the sought-after Olive Heights neighborhood near Orange Grove Blvd, minutes from Old Town Pasadena, Caltech, and T
  • Historic Character: Each building reflects a different architectural era, offering vintage charm with the potential for modern upgrades and value-add
  • Strong Rent Demand: Desirable, walkable location close to local cafes, markets, parks, and transportation—attracts quality tenants and supports premiu

OVERVIEW

Welcome to 720 Santa Barbara Street, a rare and charming multifamily offering nestled in the heart of Pasadena's desirable Olive Heights neighborhood. This unique property is comprised of four distinct residential structures spanning nearly a century of architectural history—from the early 20th century through the post-war era—offering a blend of classic Southern California charm and stable income potential. MASSIVE DOUBLE LOT, ALMOST HALF AN ACRE. • Two well-maintained 1950s fourplexes, each consisting of four 1-bedroom, 1-bath units with thoughtful layouts and vintage appeal. • A standalone 2-bedroom, 2-bathroom single-family home, built in 1938, exudes character with its original details and spacious floor plan—perfect for an owner-user or premium rental. • A duplex dating back to 1918, offering timeless craftsmanship and an opportunity for modernization or preservation. Set on a spacious lot with mature trees, ample parking, and excellent street frontage, this income-generating property presents significant upside through cosmetic updates or strategic redevelopment. Many of the units retain their original charm, while offering tenants the comforts of quiet, garden-style living. Location Highlights: Situated on a peaceful, tree-lined street just south of Orange Grove Blvd, the property is surrounded by beautifully maintained single-family homes and boutique multifamily residences. Residents enjoy walkable access to local favorites like Millie’s Café, Roma Market, and Lavender & Honey Espresso Bar. The property is also just minutes from Old Town Pasadena, The Rose Bowl, and Caltech, with convenient access to the 210 Freeway for easy commuting across the Los Angeles metro area. This is an exceptional opportunity for investors seeking a stable, value-add asset in one of Pasadena’s most historic and well-regarded neighborhoods. Whether you're looking to hold for cash flow, renovate for upside, or convert to a higher-end multifamily offering, 720 Santa Barbara Street delivers the foundation for long-term success.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$311 USD /SF

# OF UNITS

11

PRICE/UNIT

$236,364

CAP RATE

3.37%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

720 Santa Barbara St

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

PSR1

APN/PARCEL ID

5731-017-044

ASK ABOUT THIS PROPERTY

Morgan McMullinPartners CREMore Info
310-968-2454

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Morgan McMullinPartners CREMore Info
310-968-2454

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