540 Euclid AvePasadena, CA 91101

Property Details for 540 Euclid Ave

Year built

1960

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

5,030 SF

Zone code

PSR3

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5722-034-018

APU

5722034018

Description

This exceptional 7-unit apartment building presents a rare investment opportunity in Pasadena's desirable South Lake Avenue area. Boasting a prime location, this property offers a compelling mix of three 2-bedroom, 1-bathroom units and four 1-bedroom, 1-bathroom units, providing excellent rental income potential. The 5,030 square foot building, constructed in 1960 on a 9,619 square foot lot, features a convenient on-site carport and tuck-under parking. A recent soft-story retrofit has been completed, eliminating future upgrade needs. Individual water heaters and separately metered gas and electricity enhance efficiency. Additional features include an updated laundry room and a pitched roof. While current rents are below market, offering significant upside potential, the property is subject to Pasadena's rent control regulations. This is a walker's paradise with a Walk Score of 92, placing it within easy walking distance of amenities such as the newly opened Erewhon Market. The strong 4.01% cap rate and $100,287 NOI further solidify this property's value. The asking price is $2,500,000. Please respect tenant privacy

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1365

Longitude

-118.142

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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