259 North Euclid Avenue

Pasadena, CA 91101

$6,800,000
Price
1
Beds
23
Baths
12,780 Sq. Ft.
$532 / Sq. Ft.
12,780
Sq. Ft.
$532
per Sq. Ft.

Description

An Irreplaceable location only 2 properties away from Courthouse and City Hall. A prime 23-unit value-add multifamily investment opportunity located in one of the best areas in Pasadena. Situated in the Civic Center District and several properties away from the Pasadena Courthouse and City Hall, this property offers a SUPERB and unbeatable location, perfect for a savvy investor as a buy and hold asset. With this combination of a high-quality location and excellent unit mix, the property provides...An Irreplaceable location only 2 properties away from Courthouse and City Hall. A prime 23-unit value-add multifamily investment opportunity located in one of the best areas in Pasadena. Situated in the Civic Center District and several properties away from the Pasadena Courthouse and City Hall, this property offers a SUPERB and unbeatable location, perfect for a savvy investor as a buy and hold asset. With this combination of a high-quality location and excellent unit mix, the property provides younger professional tenants with most of the attractions the City of Pasadena has to offer. Literally within walking distance to shopping, dining, and transportation, this location has a Walk and Bike Score of 88. The property is a two-story apartment with some upgrades. It was built in 1955 and has a total of 12,780 SF and situated on a ±11,811 SF Lot (Zoning is PSC – CD-MU-G). It is surrounded by a much higher density commercial/apartment building. Unlike other apartments in the area, this property has parking (9 spaces in the back) which provides excellent amenities to young professionals living in the building. It offers an excellent unit mix for this urban area with eight (8) large 1bed+1bath, seven (7) large Studio, four (4) junior Studio, and four (4) Bachelor (no kitchen) units. Approximately 10 out of 23 units have had upgrades. Some units have new double pane windows, and the upgraded units have new wood flooring and updated plumbing. All units have smooth ceiling and excellent layout. Each unit is separately metered for electricity and gas. Parking is in the back of the lot. There is a total of 9 spaces with 8 are assigned to units, and 1 is rented. There is an additional shared laundry room in the basement for the community, and a master water heater.
  1. Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495
  2. Listed by Robert Renshaw • DRE #01332831 • Brokerage DRE #01508014 • REMAX COMMERCIAL & INVESTMENT REALTY

Property Details for 259 North Euclid Avenue

View
City Lights
Parking Spaces Total
9
Private Pool
No
Cooling Type
Wall/Window
Total Units
23.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
12780
LISTING UPDATED: 12/12/2024 03:41 AM

Property Details for 259 North Euclid Avenue

StatusActive
MLS #AR24215656
Days on Market9
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
CountyLos Angeles County

Building Information for 259 North Euclid Avenue

Building/Complex259 N Euclid AveFloor-Stories2Residences-Pet Policy-Year Built1955Building Size-

Property Information for 259 North Euclid Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $487,961
  • Gross Scheduled Income: $487,961
  • Vacancy Allowance: 9759
  • Gross Operating Income: $478,202
  • Net Operating Income: $320,836
  • Garage Income: $600
  • Laundry Income: $2,466
  • Gross Multiplier: 13.94
  • Cap Rate: 4.72
  • Current Financing: Conventional
Expense Details
  • Operating Expense: $157,367
  • New Taxes Expense: $75,324
  • Fuel Expense: $3,000
  • Licenses Expense: $2,047
  • Electric Expense: $3,000
  • Insurance Expense: $9,517
  • Maintenance Expense: $14,473
  • Professional Management Expense: $15,456
  • Trash Expense: $3,478
  • Water Sewer Expense: $10,000
  • Total Expenses: $157,367
Tax / Assessment Info
  • Tax Block: C
  • Tax Tract Number: 0
  • Tax Census Tract: 4619.02
  • CFD/Mello-Roos Fee: $4,347
  • Tax Lot: 2
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Urban, Valley
Property / Structure Info
Interior Features
  • Appliances: Gas Range, Refrigerator
  • Equipment: Community, Laundry Area, Refrigerator
  • Interior Features: Copper Plumbing Partial
  • Laundry: Yes
  • Laundry Features: Common Area, Community
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Carpet, Vinyl, Wood
Exterior Features
  • Window Features: Double Pane Windows
  • Roof: Asphalt
  • Entry Location: 1
  • Fence: No
  • Fence: None
  • Fencing: None
  • Foundation Details: Pillar/Post/Pier
  • Property Condition: Repairs Cosmetic, Updated/Remodeled
  • Miscellaneous: Value in Land
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Lawn, Level with Street, Lot 10000-19999 Sqft, Rectangular Lot, Level, Near Public Transit, Value In Land
  • Direction Faces: East
  • Number Of Units: 23
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 7
  • Open Other Spaces Total: 7
  • Parking Garage Spaces: 0
  • Carport Spaces: 2
  • Parking Features: Assigned, Attached Carport
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 8
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,155
  • Unit Type Total Rent: $17,241
  • Unit Type Pro Forma: 20900
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 7
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,753
  • Unit Type Total Rent: $12,268
  • Unit Type Pro Forma: 15000
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,541
  • Unit Type Total Rent: $6,165
  • Unit Type Pro Forma: 7200
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,184
  • Unit Type Total Rent: $4,734
  • Unit Type Pro Forma: 6800
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 23
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 24
  • Number Of Separate Gas Meters: 24
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 0
  • Number With Range: 23
  • Number With Refrigerator: 23
  • Number With Disposal: 23
  • Number Wall AC: 23

Property History for 259 North Euclid Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 259 North Euclid Avenue

Taxable ValueLand$3,565,658Additions$1,539,639Total$5,105,297
Tax Record2024$60,282 ($5,023 / month)
Home Facts
Total Finished SqFt12,780 SqFtAbove Grade Finished SqFt12,780 SqFtLot Size11,811 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningPSC-CountyLOS ANGELESAPN5723-004-016

Schools near 259 North Euclid Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 6 to 12
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
McKinley School
PublicK to 8

Blair High School
Public6 to 12

Rose City High (Continuation) School
Public9 to 12

Odyssey Charter School - South
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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259 North Euclid Avenue is a multi-family home for sale in Pasadena, CA 91101. This property was listed for sale on October 17, 2024 by Growth Investment Group Pasade, it's currently listed at $6,800,000. It has been on the market for a total of 9 days and was last sold on December 1, 2020. This listing's school district is Pasadena Unified School District. Nearby schools include McKinley School, Blair High School and Rose City High (Continuation) School. 259 North Euclid Avenue is a 1-bed, 23-bath, 12,780 sqft multi-family home built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321; REMAX COMMERCIAL & INVESTMENT REALTY, Robert Renshaw, DRE #01332831

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.