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646 Westminster Dr 6 Unit Apartment Building $3,200,000 ($533,333/Unit) 6.50% Cap Rate Pasadena, CA 91105
Investment Highlights
- Six-unit property with a mix of updated one-bedroom units and a detached two-story home.
- Convenient access to key transportation routes, including the 210 and 134 Freeways.
- Balcony-equipped detached house allowing for an attractive owner-occupancy or premium rental option.
- Strong existing rental income with additional upside potential.
- Located near Old Town Pasadena and within one of Southern California’s most desirable submarkets.
- Property may qualify for a 1031 exchange for capital gains deferral.
Executive Summary
Excellent investment opportunity located in the Arroyo Pasadena area! Multi-unit Income Producing Property! Don’t miss this rare opportunity to own a versatile and income-generating property in this highly desirable area. This unique opportunity features a total of six units, including five 1-bedroom, 1-bath units all recently updated; and one spacious 3-bedroom, 2-bath two-story home with a balcony. The one-bedroom units have been updated, offering modern and exceptional finishes. The units offer practical layouts with bright living spaces and private bedrooms, appealing to a wide tenant base. Ideal for tenants seeking privacy and convenience. The main attraction at this property is the detached two-story home, perfect for an owner looking to live on-site while generating strong rental income from the remaining units. This property is currently providing solid and stable income in one of Southern California’s most sought-after rental markets. Garage space available for both buildings. This property is ideal for anyone seeking to live in a very exclusive area. Additionally, the property may qualify for a 1031 exchange, making it an attractive option for investors looking to defer capital gains while upgrading their holdings. Located near shopping, dining, and major transportation routes, this Pasadena property offers both immediate income and long-term appreciation potential
Property Facts
| Price | $3,200,000 | Building Class | C |
| Price Per Unit | $533,333 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 4,873 SF |
| Cap Rate | 6.50% | Average Occupancy | 95% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1938 |
| Property Subtype | Apartment | Parking Ratio | 0.82/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | PSR4 | ||
| Price | $3,200,000 |
| Price Per Unit | $533,333 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 4,873 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built | 1938 |
| Parking Ratio | 0.82/1,000 SF |
| Zoning | PSR4 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Ice Maker
- Refrigerator
- Oven
- Sprinkler System
- Range
- Yard
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $2,636 | 534 |
| 3+2 | 1 | $5,060 | 2,203 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5714-017-009 | Improvements Assessment | $460,250 |
| Land Assessment | $507,243 | Total Assessment | $967,493 |
Property Taxes
Parcel Number
5714-017-009
Land Assessment
$507,243
Improvements Assessment
$460,250
Total Assessment
$967,493
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646 Westminster Dr
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