103 N Catalina Ave
- Prime Pasadena multifamily opportunity steps from the sought-after South Lake District
- Ten total units including one two-bedroom unit and nine singles
- Two newly added ADUs enhance income and long-term value potential
- Most single units have been updated for strong current rental performance
- Remaining two units offer clear upside through renovation
- Gated and secure property supports tenant appeal and operational stability
- Close proximity to the Metro Station expands commuter demand
- Located in a high-demand submarket with strong rental growth
- Financial sector job growth has supported recent leasing and rent increases
- Stabilized income-producing asset with inflation-hedging rent upside
Property Description
Coldwell Banker Commercial is proud to present the exclusive listing of the Catalina Cottages, a prime multifamily investment opportunity located just steps from Pasadena’s premier South Lake District. This unique offering consists of 10 total units, including: • One 2-bedroom, 1-bath unit • Nine single units, with two newly added ADUs The property has undergone significant renovations, including the addition of two Accessory Dwelling Units (ADUs). Most single units have been updated, providing strong current income while offering upside potential through the renovation of the remaining two units. Key features include: • Gated and secure property • Proximity to South Lake District and nearby Metro Station The South Lake District has experienced significant rental demand growth over the past 24 months, driven by a surge in employment—particularly in the financial sector. This trend offers the incoming investor the opportunity to increase rents, providing a natural hedge against inflation. This is a rare opportunity to acquire a stabilized, income-producing asset with additional upside potential in one of Pasadena’s most sought-after neighborhoods.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,500,000 |
| No. of Units: | 8 |
| Year Built: | 1925 |
| Lot Size: | 0.21 Acres |
| Opportunity Zone: | No |
| Price per unit: | $437,500 |
| Property Website | Click Here |
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