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87 El Nido Ave
Pasadena, CA 91107
Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- 6-UNIT INVESTMENT OPPORTUNITY IN PASADENA
- (6) 1-BEDROOM
- OVER 21% UPSIDE IN RENTS
- BUNGALOW STYLE UNITS
- IN-UNIT LAUNDRY AND AIR CONDITIONING
- ASSIGNED GARAGE PARKING
EXECUTIVE SUMMARY
The Boyett Team at CBRE is pleased to present a rare opportunity to acquire 87 El Nido Ave, a well-maintained 6-unit apartment building. Ideally positioned between Colorado Blvd and Del Mar Blvd Avenue, this property is situated in the highly sought-after Pasadena rental market—a prime location with strong tenant demand.
Spanning a 10,971-square-foot lot with 2,816 square feet of gross building area, the property features a highly desirable unit mix of (6) one-bathroom units offering significant rental income potential. The average unit size is 469 square feet. Residents enjoy access to premium amenities including in-unit laundry, air conditioning and assigned garage parking.
Built in 1941, the properties current rents are approximately 22% below market, presenting a compelling value-add opportunity for investors. Pasadena’s strong employment base and consistent demand for quality rental housing further enhance the investment appeal.
Spanning a 10,971-square-foot lot with 2,816 square feet of gross building area, the property features a highly desirable unit mix of (6) one-bathroom units offering significant rental income potential. The average unit size is 469 square feet. Residents enjoy access to premium amenities including in-unit laundry, air conditioning and assigned garage parking.
Built in 1941, the properties current rents are approximately 22% below market, presenting a compelling value-add opportunity for investors. Pasadena’s strong employment base and consistent demand for quality rental housing further enhance the investment appeal.
PROPERTY FACTS
| Price Per Unit | $366,667 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.21% | Lot Size | 0.25 AC |
| Gross Rent Multiplier | 15.23 | Building Size | 2,816 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1941 |
| Property Subtype | Apartment | Parking Ratio | 2.13/1,000 SF |
| Zoning | PSR3 | ||
| Price Per Unit | $366,667 |
| Sale Type | Investment |
| Cap Rate | 4.21% |
| Gross Rent Multiplier | 15.23 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 2,816 SF |
| No. Stories | 1 |
| Year Built | 1941 |
| Parking Ratio | 2.13/1,000 SF |
| Zoning | PSR3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
PROPERTY TAXES
| Parcel Number | 5748-016-029 | Improvements Assessment | $494,530 |
| Land Assessment | $743,078 | Total Assessment | $1,237,608 |
PROPERTY TAXES
Parcel Number
5748-016-029
Land Assessment
$743,078
Improvements Assessment
$494,530
Total Assessment
$1,237,608
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