INVESTMENT HIGHLIGHTS
- Class A Location in Madison Heights area, south of Colorado Blvd and between Del Mar Blvd and California Blvd
- 420 S Euclid was built by the seller’s family in 1921, and 434 S Euclid has been in the same ownership since 1963.
- Extremely rare VALUE-ADD deal in one of the most highly desirable parts of Pasadena; 1 unit may be delivered vacant.
- ±5.91% Proforma CAP Rate in a CLASS A Location; 2 blocks away from Old Town Pasadena
- Large, combined lot size of 29,442 SF / ±0.68acre with Medium-High Density Zoning (R3 / RM-32 – 32-units per acre)
- Excellent demographics with ±$139,486 average household income in a one-mile radius
- Extremely easy to rent area, Low vacancy history, nearby many high priced SFRs.
- Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110
PROPERTY HIGHLIGHTS
- 420 Euclid is 7 bungalows/houses on a large ±19,500sf R3 Lot!
- Very attractive bungalow style community with excellent curb appeal and lush center garden
- Located across the Mayfield Junior School, a well-known and highly rated private Catholic school.
- Ample parking provided via garage spaces, carports, and open space; buyers may be able to do ADUs on both lots.
- Attractive unit mix with combinations of 2bed houses, 1bed houses, 2bed and 1bed units
- Prime location in Madison Heights area – crossing California Blvd and two blocks south of Old Town Pasadena
- Major systems have been updated: new roof in 2018, copper plumbing, electrical panels updated, updated sewer lines in some areas.
- Unit amenities: hardwood floors, spacious unit, individual water heater, individually metered for electricity and gas.
EXECUTIVE SUMMARY
5.91% Proforma CAP Rate and 1 unit may be delivered vacant. Growth Investment Group California as the exclusive listing agents are proud to offer 420 and 434 S Euclid Ave, two Madison Heights area multifamily investment opportunities located only 2 blocks South of OLD TOWN PASADENA! The seller’s family was the original developer that built 420 S Euclid (7 houses/bungalows) back in 1921 (103 years ownership). The 434 has been under the same ownership since 1963 (61 years)! These 2 adjacent properties are in Madison Heights area which is considered as one of the most desirable locations for residential units in Pasadena; it is right across the Mayfield Junior School, a well-known and highly rated private Catholic school. The street is a mature and quiet residential area with superb access to Old Town Pasadena amenities.
420 S Euclid is a very attractive single-story bungalow style apartment that was built in 1921 (by seller’s family). It consists of seven (7) individual houses/bungalows (no shared wall between unit) on a large ±19,492sf R3zoned lot. It has a total of ±6,133 SF building size with very well-maintained center courtyard. It offers an excellent unit mix with three (3) x large 2bedroom+1bathroom bungalows, and four (4) x 1bedroom+1bathroom bungalows. Recent capital improvements were updated electrical, mostly copper plumbing, ±6-year-old roof, exterior repainting in 2012, etc. (Buyer to verify).
Each unit is spacious and large with an excellent layout, large dining room that could double a den or extra room (with built-in cabinets), breakfast nook, original hardwood flooring, charm, and character. Each unit has an individual water heater and separately metered for electricity and gas. There is a shared laundry room in the parking area (laundry room’s gas is using one of the unit’s gas meter). Parking for 420 S Euclid is provided by 5 garages, 1 carport, and 1 open space. There is a large common area backyard on the side of the laundry room/behind 1 of the bungalows.
EUCLID COURT - 434 S Euclid is a charming and attractive 6-unit apartment next to 420 S Euclid. It consists of a fourplex in the front and duplex in the back. It was originally a 2-unit that was built in 1913, the four additional units (2 in the front, and 2 in the back) were built in 1950s. It offers a good unit mix of two (2) x 2bed+1bath, and four (4) x 1bed+1bath units. It has a total of ±4,309sf building size and is situated on a large ±9,750sf R3 lot size.
Each unit has a good layout, spacious with hardwood floor, an individual water heater and separately metered for electricity and gas. Laundry is provided via laundry room in 420 S Euclid. There are 6 parking spaces provided by 6 carports.
LOCATION AMENITIES AND ACCESS
The properties are located south of Del Mar Blvd and north of California Blvd. Just two blocks south of Old Town Pasadena and in the Madison Heights area, this location offers tenants superb amenities and myriad of shopping in Pasadena. It is within minutes from Rose Bowl area, The Paseo on Colorado, museums, theaters, entertainments, groceries, cafes, shops, and other fantastic amenities in Pasadena. It has an excellent demographics of $140,786 average household income within a 2-mile radius. The property has superb access to FWY 210 and FWY 134 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is minutes away from FWY 110 that connects to Downtown Los Angeles.