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CBG Lake Portfolio 4 Properties Offered at $8,000,000 in Pasadena, CA
INVESTMENT HIGHLIGHTS
- RARE OWNER USER OR INVESTMENT OPPORTUNITY WITH DEVELOPMENT POTENTIAL
- CONVENIENT FREEWAY ACCESS AND A SHORT WALK TO THE METRO GOLD LINE STATION
- CAN BE SOLD INDIVIDUALLY OR COLLECTIVELY
- OWNER USER WITH INCOME
EXECUTIVE SUMMARY
CBRE is pleased to present the portfolio of 424 N Lake Avenue and 415-433 N Mentor Avenue, a rare assemblage of office and residential properties ideally positioned in Pasadena, California. Strategically located north of the Foothill (I-210) Freeway, this portfolio offers investors, owner-users, and developers the unparalleled opportunity to acquire a substantial presence in one of the San Gabriel Valley’s most desirable submarkets.
The portfolio comprises five distinct properties on a combined 37,730 SF lot. 424 N Lake Avenue is a three-story, 12,815 gross square foot office building, constructed in 1969, and features ten units, 90% occupied and all tenants on month-to-month leases. At the rear, 24 dedicated parking spaces offer convenience for tenants and visitors alike. Adjacent to the office building, 415, 417, 429, and 433 N Mentor Avenue consist of single-story single-family residences and multifamily buildings ranging from 850 SF to 2,106 SF, including a fully occupied 2-unit multifamily property at 417 N Mentor. With generous lot sizes ranging from 6,406 SF to 10,877 SF, this portfolio delivers a unique blend of stable income and redevelopment potential. The flexible zoning supports a variety of uses, making this a compelling acquisition for diverse buyer profiles, including owner-users seeking a strategic foothold in a prime Pasadena location.
Located in the heart of Pasadena, the properties are within walking distance to the City Hall, Pasadena Playhouse, and a wide array of shopping, dining, and entertainment options along Lake Avenue and nearby Old Town Pasadena. This prime location also boasts convenient access to the I-210 Freeway, connecting to major employment centers in Pasadena, Downtown Los Angeles, and across the San Gabriel Valley. This generational offering presents an exceptional opportunity for investors to maximize value through strategic repositioning, ground-up development, or long-term hold in a thriving, supply-constrained market. CBRE is delighted to present this highly sought-after Pasadena portfolio—an outstanding example of location, versatility, and potential.
The portfolio comprises five distinct properties on a combined 37,730 SF lot. 424 N Lake Avenue is a three-story, 12,815 gross square foot office building, constructed in 1969, and features ten units, 90% occupied and all tenants on month-to-month leases. At the rear, 24 dedicated parking spaces offer convenience for tenants and visitors alike. Adjacent to the office building, 415, 417, 429, and 433 N Mentor Avenue consist of single-story single-family residences and multifamily buildings ranging from 850 SF to 2,106 SF, including a fully occupied 2-unit multifamily property at 417 N Mentor. With generous lot sizes ranging from 6,406 SF to 10,877 SF, this portfolio delivers a unique blend of stable income and redevelopment potential. The flexible zoning supports a variety of uses, making this a compelling acquisition for diverse buyer profiles, including owner-users seeking a strategic foothold in a prime Pasadena location.
Located in the heart of Pasadena, the properties are within walking distance to the City Hall, Pasadena Playhouse, and a wide array of shopping, dining, and entertainment options along Lake Avenue and nearby Old Town Pasadena. This prime location also boasts convenient access to the I-210 Freeway, connecting to major employment centers in Pasadena, Downtown Los Angeles, and across the San Gabriel Valley. This generational offering presents an exceptional opportunity for investors to maximize value through strategic repositioning, ground-up development, or long-term hold in a thriving, supply-constrained market. CBRE is delighted to present this highly sought-after Pasadena portfolio—an outstanding example of location, versatility, and potential.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $8,000,000 | Number of Properties | 4 |
| Price / SF | $417.30 / SF | Individually For Sale | 0 |
| Sale Type | Investment or Owner User | Total Building Size | 19,171 SF |
| Status | Active | Total Land Area | 0.98 AC |
| Price | $8,000,000 |
| Price / SF | $417.30 / SF |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 19,171 SF |
| Total Land Area | 0.98 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 415 N Mentor Ave, Pasadena, CA 91106 | Multifamily | 2,900 SF | 1908 | - |
| 424 N Lake Ave, Pasadena, CA 91101 | Office | 12,815 SF | 1969 | - |
| 429 N Mentor Ave, Pasadena, CA 91106 | Office | 2,194 SF | 1929 | - |
| 433 N Mentor Ave, Pasadena, CA 91106 | Specialty | 1,262 SF | 1929 | - |
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