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$5,100,000

For Sale

2 months ago

31 N Parkwood Ave, Pasadena, CA

Condo

MLS® AR26037066

0 Bed

0 Bath

20 Parking

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage Yes

HOA Fees

Taxes $57,152

Days Active 50

Approx. Age 1958

MLS® Number AR26037066

Property Address: 31 N Parkwood Ave, Pasadena, CA, 91107-3528

Average square foot calculated using Size range provided by listing agent.

Description

Priced at a LOSS for FAST CLOSE (Seller Retiring)! Rare ±6.95% CAP 20-Unit Upgraded Portfolio in Prime Central Pasadena – Steps from PCC & Caltech, Fully Upgraded, In-Unit Laundry, Zero Relocation Hassles, Built-In Tenant Demand. 31 N Parkwood and 1837 E Colorado Blvd, a premier 20-unit apartment portfolio located in the heart of Pasadena, CA. Situated just steps from Pasadena City College (PCC) and blocks from the California Institute of Technology (Caltech), this portfolio represents a rare convergence of Turnkey Condition and High Yield Returns (±6.95% Cap Rate) in a high-barrier-to-entry market. The Seller is highly motivated and retiring, offering this asset at a price significantly below their acquisition cost. This is a unique chance for an investor to step into a stabilized, high-cash-flow asset immediately, bypassing the capital exposure and time delays of renovation. Combine that with fully upgraded units featuring in-unit laundry, market rents already in place, and zero relocation expense, and you get strong Day-1 cash flow plus long-term appreciation in a supply-constrained, high-demand submarket. Both properties have been completely upgraded, and each unit has been beautifully upgraded - complete with in-unit laundry machines (seller own). Since this investment consists of 2 properties, new owner does not require an on-site manager. Due to its super strategic location, this investment has a built-in pool of renters (CALTECH students/workers, and PCC International students), making it an easy property to rent with minimum repairs needed. 31 N Parkwood is an 8-unit garden style 2-story apartment that was built in 1958. It has 5, 322 SF living space, and situated on a 10, 100 SF R3 zone lot. It has a good unit mix of 1 x 3bed+2bath, and 7 x 1bed+1bath units. All the units have been fully upgraded (brand new flooring, new kitchen – with dishwasher, new bathroom, stainless steel appliances, and in-unit laundry machines). 1837 E Colorado is a 12-unit highly desirable single-story apartment with lush drought tolerant landscaping in the front that was built in 1923. It has 4, 608 SF living space, and situated on a 8, 994 SF MU-C (Commercial) zone lot. It has a perfect unit mix ALL 1bed+1bath non conforming units – perfect for young professionals or PCC International Students or CALTECH students and/or workers/researchers. All the units have been fully upgraded.

MLS® NumberAR26037066

Locker

Ensuite Laundry

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageYes

Approx. Age1958

Stories2

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Feb 19, 2026List Date

$5,100,000List Price

Commute

Commute

Starting Address

Destination Address

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