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20 Units | 2 Joining Properties Sold Together 1837 E Colorado Blvd 20 Unit Apartment Building $5,100,000 ($255,000/Unit) 6.15% Cap Rate Pasadena, CA 91107
INVESTMENT HIGHLIGHTS
- 20 Total Units in Pasadena
- 1837 E Colorado Blvd: 12 Units | (12) 1-Bed/1-Bath (All Remodeled)
- Great Potential for Upside – 8.33% Market CAP | 8.74 Market GRM
- 31 N Parkwood Ave: 8 Units | (1) 3-Bed/2-Bath, (7) 1-Bed/1-Bath
- Strong In-Place Income – 6.15% CAP | 10.88 GRM
- Low Cost Per Unit: $255K/Unit. Prime Pasadena Location Near PCC, Caltech, Retail, and Transit
EXECUTIVE SUMMARY
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
*Translation services available upon request, including Cantonese, Mandarin, Russian, Armenian, Farsi, and more
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $255,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 6.15% | Building Size | 9,930 SF |
| Gross Rent Multiplier | 10.88 | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 2.22/1,000 SF |
| Zoning | PSR - PSR | PSR3 | ||
| Price | $5,100,000 |
| Price Per Unit | $255,000 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Gross Rent Multiplier | 10.88 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 9,930 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 2.22/1,000 SF |
| Zoning | PSR - PSR | PSR3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Ceiling Fans
- Vinyl Flooring
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 19 | - | 500 |
| 3+2 | 1 | - | 800 - 1,200 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 5746-017-030 | Improvements Assessment | $2,366,493 (2025) |
| Land Assessment | $1,008,147 (2025) | Total Assessment | $3,374,640 (2025) |
PROPERTY TAXES
Parcel Number
5746-017-030
Land Assessment
$1,008,147 (2025)
Improvements Assessment
$2,366,493 (2025)
Total Assessment
$3,374,640 (2025)
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20 Units | 2 Joining Properties Sold Together | 1837 E Colorado Blvd
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