790 E Orange Grove Blvd - Apartments FOR SALE


Pasadena, CA 91104- Olive Heights
$3,900,000 USD
626-399-9060
790 E Orange Grove Blvd, Pasadena, CA for Sale
$3,900,000 USD
Apartments - FOR SALE
1/12
null | 4.96% Cap Rate

790 E Orange Grove Blvd
Pasadena, CA 91104
Olive Heights


HIGHLIGHTS

  • All newly rehabbed and newly built 8 units in desirable NE Pasadena location near the Rose Bowl, JPL, Cal Tech, Downtown LA.
  • 100% occupancy with market rate rents. Some with 2 year leases.
  • Tenants pay most utilites. Owner pays water and trash. Solar panels services three new construction units
  • New Roof, new appliances, central AC & heat, energy efficient windows, tankless water heaters, new plumbing and electrical,
  • New concrete surfaces, 8 assigned parking spaces, most units have private inside laundry.

OVERVIEW

Secure a high-performance, low-management investment with this extensively renovated 8-unit property located at 790 E. Orange Grove Blvd. in beautiful Pasadena, CA. This asset offers the ideal combination of stable, immediate cash flow and mitigated future expenditure risks. The property features five units fully renovated to the studs and three new construction ADUs, ensuring minimal maintenance needs for years to come. Updates include new roofs, full replacement of plumbing and electrical systems, new windows, doors, flooring, and modern kitchens/baths throughout. All units are equipped with central HVAC, new appliances, and all but one unit include private in-unit laundry, driving high tenant demand and retention. New construction units are equipped with solar panels contribute to efficiency and lower operating costs. The property is 100% occupied at market-rate rents, featuring a highly desirable mix of two 2 bedroom and 2 bathroom units, two 2 bedroom 1 bathroom units, three 1 bedroom 1 bathroom units and one studio. Tenants are responsible for all utilities except water and trash. The three new ADUs may qualify for an exemption from the Pasadena Rent Stabilization Ordinance (Measure H), offering a strategic advantage and enhanced long-term value. This opportunity delivers the advantages of a new build investment asset with zero vacancy loss from day one. For a low-hassle, income-producing property with proven returns, your search ends here.

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$709 USD /SF

# OF UNITS

8

PRICE/UNIT

$487,500

CAP RATE

4.96%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NE Pasadena New and Rehabbed 8 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

R1, Pasadena

APN/PARCEL ID

5731-013-004

ASK ABOUT THIS PROPERTY

Sarkis AleksanianCompass Real EstateMore Info
626-399-9060

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Sarkis AleksanianCompass Real EstateMore Info
626-399-9060

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