Exclusive Listings

Upgraded Turn-key Multi-tenant Retail in Pasadena

Address:
2487 E Washington Blvd
Pasadena, CA 91104
Price:
$2,188,000
Status:
Available
Type:
Mixed-Use
# Units:
7
Year Built:
1946
Building Size:
4,993 SF
Lot Size:
11,363 SF
CAP Rate:
n/a
GRM:
n/ax
Price/Unit:
$313,000
Price/SqFt:
$438

Investment Highlights

  • Excellent frontage on Washington Blvd with ideal retail location
  • Good traffic volume on Altadena Dr. (±19,500 vpd) and Washington Blvd. (±13,000 vpd)
  • Major tenant is on a long-term lease with annual rent increases
  • First time on market since 1979
  • An upgraded TURN KEY property
  • Excellent Demographics area with ±$136,000 average household income within 1 mile radius
  • C3 Zoning with ±100 feet frontage on Washington Blvd.; Potential redevelopment site

Property Highlights

  • Upgraded copper plumbing and electrical
  • Unique single family home attached with the property (commercial zoning - can be converted into medical office, etc.)
  • Main unit (BAJA CALI Fish & Taco) has new upgraded kitchen and significant tenant improvements
  • Ample parking spaces (15 spaces)
  • New roof placed 8 years ago
  • 5 HVAC units + 2 HVAC for the residential side

Executive Summary

The Growth Investment Group is proud to offer an upgraded, TURN KEY multi-tenant retail property in Pasadena, California. The property sits in a great location near downtown Pasadena and this sale presents a great opportunity for an investor to own a retail property with a lot of potential.

This unique property offers a rare mix of retail and residential space on the same lot. This would a great space for an owner-user or an investor. The property has a unit mix that consists of an updated restaurant with a new kitchen, appealing patio seating, three separate office spaces that are leased out, and a beautiful single family home. The home is zoned for commercial use and can be rented out as either a single-family home or developed into another commercial rental.

The property sits in a highly convenient location on the Pasadena/Altadena border while still being close to downtown Pasadena. This property also sits near the busy intersection of Washington Blvd and Altadena Drive. At this intersection there is a 7-Eleven, McDonalds, Phoenix Pharmacy, and other national and local retailers.

This area of Pasadena sits adjacent to the City of Sierra Madre on its east side. The property has an excellent trade area with strong income demographics within 1 mile radius (±$136,000 average household income).




Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
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