420 & 434 S Euclid Ave

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Address: 420 S Euclid Ave, Pasadena, CA 91101, USA
Created date: July 10, 2024
Date last updated: July 10, 2024
  • Class A Location in Madison Heights area, south of Colorado Blvd and between Del Mar Blvd and California Blvd
  • 420 S Euclid was built by the seller’s family in 1921, and 434 S Euclid has been in the same ownership since 1963.
  • Extremely rare VALUE-ADD deal in one of the most highly desirable parts of Pasadena; 1 unit may be delivered vacant.
  • ±6% Proforma CAP Rate in a CLASS A Location; 2 blocks away from Old Town Pasadena
  • Large, combined lot size of 29,442 SF / ±0.68acre with Medium-High Density Zoning (R3 / RM-32 – 32-units per acre)
  • Excellent demographics with ±$139,486 average household income in a one-mile radius
  • Extremely easy to rent area, Low vacancy history, nearby many high priced SFRs.
  • Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110

Property Description

±6% Proforma CAP Rate and 1 unit may be delivered vacant. Growth Investment Group California as the exclusive listing agents are proud to offer 420 and 434 S Euclid Ave, two Madison Heights area multifamily investment opportunities located only 2 blocks South of OLD TOWN PASADENA! The seller’s family was the original developer that built 420 S Euclid (7 houses/bungalows) back in 1921 (103 years ownership). The 434 has been under the same ownership since 1963 (61 years)! These 2 adjacent properties are in Madison Heights area which is considered as one of the most desirable locations for residential units in Pasadena; it is right across the Mayfield Junior School, a well-known and highly rated private Catholic school. The street is a mature and quiet residential area with superb access to Old Town Pasadena amenities. 420 S Euclid is a very attractive single-story bungalow style apartment that was built in 1921 (by seller’s family). It consists of seven (7) individual houses/bungalows (no shared wall between unit) on a large ±19,492sf R3zoned lot. It has a total of ±6,133 SF building size with very well-maintained center courtyard. It offers an excellent unit mix with three (3) x large 2bedroom+1bathroom bungalows, and four (4) x 1bedroom+1bathroom bungalows.  Recent capital improvements were updated electrical, mostly copper plumbing, ±6-year-old roof, exterior repainting in 2012, etc. (Buyer to verify). 420 S Euclid MAY BE ELIGIBLE for The MILLS ACT which would allow a PROPERTY TAX RELIEF (Buyer to verify) that would lead to a much higher cash-flow! Each unit is spacious and large with an excellent layout, large dining room that could double a den or extra room (with built-in cabinets), breakfast nook, original hardwood flooring, charm, and character. Each unit has an individual water heater and separately metered for electricity and gas. There is a shared laundry room in the parking area (laundry room’s gas is using one of the unit’s gas meter). Parking for 420 S Euclid is provided by 5 garages, 1 carport, and 1 open space. There is a large common area backyard on the side of the laundry room/behind 1 of the bungalows. EUCLID COURT - 434 S Euclid is a charming and attractive 6-unit apartment next to 420 S Euclid. It consists of a fourplex in the front and duplex in the back. It was originally a 2-unit that was built in 1913, the four additional units (2 in the front, and 2 in the back) were built in 1950s. It offers a good unit mix of two (2) x 2bed+1bath, and four (4) x 1bed+1bath units. It has a total of ±4,309sf building size and is situated on a large ±9,750sf R3 lot size. Each unit has a good layout, spacious with hardwood floor, an individual water heater and separately metered for electricity and gas. Laundry is provided via laundry room in 420 S Euclid. There are 6 parking spaces provided by 6 carports.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $5,300,000
No. of Units: 13
Cap Rate: 4.12%
GRM /GIM: 16.31
Year Built: 1950
Building Size: 10,442 Sq ft
Lot Size: 29,242.00 Sq ft
Opportunity Zone: No
Price per unit: $407,692
Address: 420 S Euclid Ave, Pasadena, CA 91101, USA

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