444 Euclid AvePasadena, CA 91101
- Residential income properties
- 17,012 SF
Property Details for 444 Euclid Ave
- Year built
- 1958
- Construction
- WOOD
- Lot size
- 0.49 AC
- Property size (Sq ft)
- 17,012 SF
- Zone code
- PSR3
- Property type
- Residential income properties
- Property subtype
- Other apartment buildings
- APN
- 5725-033-015
- APU
- 5725033015
Description
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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $5,652,558
- 6.5%
- $5,217,746
- 7%
- $4,845,050
-
Comparable approach
- Method
- Valuation
- Relative Method
- $4,993,375
- Geo Method
- $5,014,253
-
Alternative Use
- Use
- Valuation
- Residential
- $5,217,746
- Hospitality
- $4,779,428
- Educational
- $3,976,428
- Medical
- $4,113,183
- Retail
- $6,185,554
Location Insight
- City
- Pasadena
- County
- Los Angeles
- State
- California
- Latitude
- 34.1535
- Longitude
- -118.143
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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