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Listed by Brett Lyon • Lyon Stahl Investment Real Estate, Inc.
$5,100,000
Est. payment /mo
9,930 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,930 sqft
Price per Sqft $513
MLS Listing ID CRSB25268547
HOA Y/N No
Year Built 1923
Lot Size 0.438 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
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.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Common Area
Building
Water Private
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