INVESTMENT HIGHLIGHTS
- Turnkey and fully upgraded apartment (fully permitted) completed in 2022-2023; Excellent location near Old Town Pasadena and Rose Bowl
- Turnkey investment perfect for a 1031 exchange buyer, first time apartment buyer, or owner-user; one of the best way to fight inflation
- Inflation and recession proof investment with easy to rent units and location.
- SUPERB demographics with ±$112,926 average household income within a 1-mile radius
- Superb amenities nearby: Paseo Colorado, Old Town Pasadena, Apple store, 24-hour Fitness, Target, Vroman Bookstore, Urth Café, ,Norton Simon Museum, USC Pacific Asia Museum, Pasadena Museum of California Art, Pasadena Playhouse
- Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110
PROPERTY HIGHLIGHTS
- Turnkey apartment with an excellent curb appeal
- Highly desirable single story layout with vaulted ceiling in living room and private patio in most units
- Excellent and efficient unit mix for young professionals that work in the medical field nearby or work in downtown Pasadena
- Completely renovated with permits in 2022-2023
- Excellent amenities: gated parking, secured entrance, electronic RFI unit locks, fully upgraded unit, private patio in some unit
- Luxury upgrades in each unit complete with in-unit laundry, new kitchen, new bathroom
- Top-down renovation have been completed including exterior and interior upgrades
- Separately metered for electricity and gas, no soft story retrofit is required
EXECUTIVE SUMMARY
Growth Investment Group California is proud to offer 411-417 N Euclid Ave, a turnkey/fully upgraded 10 units apartment community in the City of Pasadena. The property is unique due to its single-story style layouts and its proximity to Old Town Pasadena, and Rose Bowl. The properties offer an investor the rare opportunity to own a high cash flowing apartment property in an extremely convenient location in Pasadena. This turn-key condition, combined with higher cap rate (compared to other properties in this area) offer investors attractive investment vehicle to combat raging inflation.
The property has been completely renovated with permits, and offers an efficient mix of nine 1bedroom, and one studio units. The community is gated and has secured entrance with shared driveway with the property next door which is also for sale by the same owner (405 N Euclid – 3 units + Approved plan for ADU units). The property was built in 1950 and has been completely renovated with permits in 2022-2023. It consists of 3 single-story buildings and situated on a large ±11,627sf R3 lot.
Each unit is unique to its vaulted ceiling layout with most units have its private patio. All the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades (plumbing upgrade in unit), new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split HVAC systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher, and refrigerator), and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures. The exterior upgrades include new entry gate, new parking gate, new exterior paint and signage, completely redone landscaping, updated electrical, and much more!
The ownership spent significant amount of time and capital in relocating the previous tenants and completely upgraded the exterior and interior of the property, making this a turnkey investment for new owner. The property is separately metered for electricity and gas. Parking is provided by 10 shared parking area in the adjacent lot and back+front portion of the lot; there is no soft-story parking required. Given its excellent real estate fundamentals, complete renovation, and a convenient location, the 411-417 Euclid is an unparalleled investment for an investor seeking stable risk-adjusted returns, wealth preservation, and a hedge against inflation.
LOCATION AMENITIES AND ACCESS
The property is in the highly desirable area of Pasadena just several blocks north of Old Town Pasadena. It is situated on a quiet tree-lined street and within minutes from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue. Near Pasadena’s historic City Hall, it sits just minutes from the California Institute of Technology, Pasadena Community College, and the 210 and 110 Freeways, offering ease of access to neighboring cities and entertainment destinations in the region. Historic Old Pasadena’s charming storefronts house 200 shops plus a wide array of restaurants and night spots. The Pasadena Convention Center, Pacific Asia Museum, the historic Tournament of Roses house, and the Norton Simon Museum are minutes away. The property has superb access to FWY 110 and FWY 210 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway.