444 Euclid AvePasadena, CA 91101

This exceptional multifamily investment opportunity, located at 444 N Euclid Ave in Pasadena, CA, presents a compelling value-add proposition. The 2-story, 23-unit apartment building, built in 1958, boasts 17,012 square feet on a 21,172 square foot lot. The property features a mix of one- and two-bedroom units, averaging 740 square feet each, many with updated kitchens and flooring. Amenities include a sparkling pool, courtyard, on-site laundry, covered parking, and a secure entry gate. Currently generating a NOI of $290,234, representing a 4.47% cap rate, the property offers significant upside potential. A pro-forma NOI of $410,117 projects a 6.31% cap rate, reflecting an estimated 27% rental growth to market rents. The asking price is $6,500,000 ($282,609 per unit and $382.08 per square foot). Attractive 2.95% interest-only financing is available through November 2030. The property's prime location in the Villa Parke neighborhood, near Old Town Pasadena and major freeways, ensures strong tenant demand and easy accessibility to numerous amenities and attractions. This property is ideal for investors seeking a stable, income-producing asset with substantial growth potential. The property's APN is 5725-033-015.