2234 Colorado BlvdPasadena, CA 91107

Property Details for 2234 Colorado Blvd

Year built

1983

Construction

WOOD

Lot size

0.23 AC

Property size (Sq ft)

7,896 SF

Zone code

PSC*

Property type

Office buildings

APN

5747-006-025

APU

5747006025

Description

This exceptional three-story, 9,279 square foot Class B office building in Pasadena, CA, presents a unique owner-user investment opportunity. Located on the prestigious Colorado Boulevard, this 1983-constructed property boasts a highly desirable address along the Rose Parade route, offering unparalleled access to world-class shopping, dining, and entertainment. The building features a thoughtfully designed layout with ample parking (3 spaces per 1,000 square feet) conveniently situated on both sides, accessible via a central breezeway. Overflow parking is available through a neighboring church, presenting potential for future medical office conversion. With a net rentable area of 8,156 square feet, the asking price is $5,300,000, translating to $571.18 per square foot. The property sits on a 0.23-acre lot and benefits from a Walk Score of 90, placing it in a "Walkers Paradise" within easy reach of Old Pasadena, the South Lake Financial District, and the Playhouse District. Its prime location at the intersection of East Colorado Boulevard and Sierra Madre Boulevard provides excellent visibility and accessibility, with over 21,000 cars passing daily, and convenient access to the I-210 Freeway and the Metro Gold Line. The building's location within a strong neighborhood office market, characterized by limited supply and low vacancy rates, further enhances its investment appeal. The potential to leverage the property's location for Rose Parade events or generate additional revenue through parking rentals adds to its overall value proposition. This is a rare chance to acquire a well-maintained, centrally located office building in one of Pasadena's most sought-after areas.

• CAP approach

  CAP return

  Valuation

  6%

  $2,382,869

  6.5%

  $2,199,571

  7%

  $2,042,459

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,709,307

  Geo Method

  $1,501,503

• Alternative Use

  Use

  Valuation

  Residential

  $2,727,468

  Hospitality

  $2,498,346

  Educational

  $2,078,595

  Medical

  $2,150,081

  Retail

  $3,233,370

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1457

Longitude

-118.104

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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