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Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26196810
Construction Status Repairs Cosmetic
HOA Y/N No
Year Built 1922
Lot Size 0.283 Acres
Property Sub-Type Apartment
Property Description
146-154 N Holliston Ave, an impeccably maintained 7-unit multifamily community located in the highly desirable central Pasadena market. Strategically situated just blocks from CALTECH and Pasadena City College, this property represents a premier passive income vehicle.
The asset is securely master leased to The Gooden Center (a well-known healthcare operator – has been in the business for ±50-year in the area) under a Single Tenant Net Lease structure, shielding the owner from standard operational headaches. Because the tenant is responsible for insurance, all utilities and almost all maintenance (up to the first $3,000), landlord management responsibilities are kept to an absolute minimum. Coupled with an in-place CAP rate of 7.13%, this offering provides highly attractive positive leverage and outstanding yield for a Class-A location in the West San Gabriel Valley.
The property is situated in a quiet residential area and offers a high Walk Score of 92 and Bike Score of 88. It is situated in a highly affluent area with an average household income of ±$141,687 within a 1-mile radius. It offers many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd.
Built in 1922, the ±5,443 SF property rests on a spacious ±12,313 SF RM-48 zoned lot. It offers a highly desirable layout with 4 single story bungalows and a triplex in the back. It has walkway on its right side complete with community garden and covered seating and barbeque area. It offers excellent unit mix with one (1) x 2bed+1bath bungalow, three (3) x 1bed+1bath bungalows, two (2) x 2bed+1bath (back triplex), and one (1) x 1bed+1bath (back triplex). The sale comes with an approved plan for 1 ADU.
The master tenant expertly utilizes the diverse layout—consisting of four single-story bungalows and a rear triplex—for offices, meeting spaces, and consultation rooms. The property has benefited from massive capital improvements, allowing a new investor to step into a stabilized, low-maintenance asset immediately. The front bungalow has central HVAC unit, and the other 3 bungalows have mini split HVAC. The back triplex has central HVAC.
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Vinyl, Wood
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Parking Features Attached Carport, Assigned
Carport Spaces 3
Fence None
Pool None
Community Features Suburban, Valley
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Shingle
Total Parking Spaces 7
Private Pool No
Building
Lot Description 36-40 Units/Acre, Lawn, Landscaped, Street Level
Faces West
Story 2
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Bungalow
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic
Others
Senior Community No
Tax ID 5738009047
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Nearby Locations
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