Triplex blocks from Old Town Pasadena | 409 N Mar Vista Ave
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Triplex blocks from Old Town Pasadena 409 N Mar Vista Ave
3 Unit Apartment Building $1,913,584 CAD ($637,861 CAD/Unit) Pasadena, CA 91106
Investment Highlights
- Prime Value-add near Old Town Pasadena and Rose Bowl; Single story SFR and a duplex.; Large lot size of 11,038 SF R4 ZONED Lot!
- SUPERB demographics with ±$113,663 average household income within a 1-mile radius; Walk Score 79, Bike Score 89
- Each unit has an individual water heater, and laundry hookups, gated entrance for extra security; 2 attached garages for clear ADU upside
- First Time offered for sale since 1998 (26 years)! Perfect for an owner user or a first-time home/apartment investor
- Highly desirable layout with 2 single story buildings, a SFR and a duplex; Excellent mix with 3bed + 1bath house, and 2 x 1bed+1bath units (duplex).
- 6 parking spaces: 2 attached garages and 3-4 open parking spaces, no soft story retrofit is required
Executive Summary
Growth Investment Group California is proud to offer 409 N Mar Vista Ave, a value-add Triplex (3 unit) apartment community in the City of Pasadena. The property offers desirable single story bungalow layout and consists of a single story SFR, and single-story duplex on the same lot. The property offers a strategic location near Old Town Pasadena, and Rose Bowl. This offering provides an excellent opportunity for a first-time apartment investor or even an owner-user to put their personal touch in a building w/ character and add value in the process.
The property was built in 1928, has a total of ±2,389 SF building size and situated on a large ±11,038 SF R4 zoned lot. It offers an excellent unit mix of front house 3bedroom + 1bathroom (may be converted to 2bed by current tenant), and a detached back duplex that consists of two (2) x 1bedroom+1bathroom units. Each building has a large private backyard and an attached garage (ideal for ADU conversion). All tenants are on month to month. It offers ease of maintenance and high demand due to its location and layout.
The property offers ample parking with a total of 6 spaces provided by 2 attached garages which are primed for ADU’s conversions, and 4 open spaces. The property has a shared gate and driveway with the next-door property (413) and the parking gate is powered by next door property.
LOCATION AMENITIES AND ACCESS
The property is in the highly desirable area of Pasadena just several blocks north of Old Town Pasadena. It is situated on a quiet tree-lined street and within minutes from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue. Near Pasadena’s historic City Hall, it sits just minutes from the California Institute of Technology, Pasadena Community College, and the 210 and 110 Freeways, offering ease of access to neighboring cities and entertainment destinations in the region. Historic Old Pasadena’s charming storefronts house 200 shops plus a wide array of restaurants and night spots. The Pasadena Convention Center, Pacific Asia Museum, the historic Tournament of Roses house, and the Norton Simon Museum are minutes away. The property has superb access to FWY 110 and FWY 210 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway.
The property was built in 1928, has a total of ±2,389 SF building size and situated on a large ±11,038 SF R4 zoned lot. It offers an excellent unit mix of front house 3bedroom + 1bathroom (may be converted to 2bed by current tenant), and a detached back duplex that consists of two (2) x 1bedroom+1bathroom units. Each building has a large private backyard and an attached garage (ideal for ADU conversion). All tenants are on month to month. It offers ease of maintenance and high demand due to its location and layout.
The property offers ample parking with a total of 6 spaces provided by 2 attached garages which are primed for ADU’s conversions, and 4 open spaces. The property has a shared gate and driveway with the next-door property (413) and the parking gate is powered by next door property.
LOCATION AMENITIES AND ACCESS
The property is in the highly desirable area of Pasadena just several blocks north of Old Town Pasadena. It is situated on a quiet tree-lined street and within minutes from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue. Near Pasadena’s historic City Hall, it sits just minutes from the California Institute of Technology, Pasadena Community College, and the 210 and 110 Freeways, offering ease of access to neighboring cities and entertainment destinations in the region. Historic Old Pasadena’s charming storefronts house 200 shops plus a wide array of restaurants and night spots. The Pasadena Convention Center, Pacific Asia Museum, the historic Tournament of Roses house, and the Norton Simon Museum are minutes away. The property has superb access to FWY 110 and FWY 210 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway.
Property Facts
| Price | $1,913,584 CAD | Building Class | C |
| Price Per Unit | $637,861 CAD | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 2,389 SF |
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1928 |
| Apartment Style | Garden | Parking Ratio | 2.51/1,000 SF |
| Price | $1,913,584 CAD |
| Price Per Unit | $637,861 CAD |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 2,389 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1928 |
| Parking Ratio | 2.51/1,000 SF |
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | - | - |
| 1+1 | 2 | - | - |
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Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (89)
zoning
| Zoning Code | R4 (48 UNITS/ACRE - CHECK PASADENA ZONING CODE) |
| R4 (48 UNITS/ACRE - CHECK PASADENA ZONING CODE) |
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Triplex blocks from Old Town Pasadena | 409 N Mar Vista Ave
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