Exclusive Listings

12-unit Turnkey near PCC and CALTECH, WalkScore 91, Excellent Location and Unit Mix

Address:
160 N Holliston Ave
Pasadena, CA 91101
Price:
$5,950,000
Status:
Available
Type:
Apartment
# Units:
12
Year Built:
1962
Building Size:
8,984 SF
Lot Size:
12,318 SF
CAP Rate:
4.25
GRM:
15.81x
Price/Unit:
$496,000
Price/SqFt:
$662

INVESTMENT HIGHLIGHTS

  • Excellent location near California Institute of Technology, Pasadena City College, and minutes away to Pasadena Playhouse and Old Town Pasadena
  • Turnkey and upgraded apartment completed in 2022-2023, perfect for a 1031 exchange buyer, first time apartment buyer, or owner-user
  • Great location with Walk Score 91, Bike Score 86
  • SUPERB demographics with ±$127,378 average household income within a 1-mile radius
  • Most of the heavy lifting process of tenants buyout, tenants relocation have been completed! New owner can reap the immediate benefit of higher cash-flow and a much better asset that is easy to rent and maintain
  • Superb amenities nearby: CALTECH, PCC, Pasadena Playhouse, Old Town Pasadena, Target, Amazon Fresh, Vroman Bookstore, Urth Café, and much more
  • Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110
  • Inflation and recession proof investment with easy to rent units and location.

PROPERTY HIGHLIGHTS

  • Turnkey apartment (11 out of 12 units have been upgraded) with an excellent curb appeal.
  • Excellent unit mix with good distributions of large 2-bedroom and 1-bedroom units
  • Excellent amenities: electronic RFI unit locks, fully upgraded unit, private patio in some unit
  • Luxury upgrades in 11-unit complete with in-unit laundry, new kitchen with stainless steel appliances, new bathroom with high-end upgrades, and so much more!
  • Significant renovations have been completed including exterior and interior upgrades
  • Separately metered for electricity and gas, covered parking

PARTIAL LIST OF UPGRADES (Buyer to Verify during due diligence period)

  • New drought tolerant landscaping
  • New building façade and signage
  • New exterior paint throughout
  • Updated rough mechanical, electrical, and plumbing system in each unit
  • NEW HVAC and exhaust system in each unit
  • New electrical subpanel
  • New flooring throughout
  • New kitchen with modern shaker style cabinet, new kitchen island or breakfast counter with quartz countertops, new stainless-steel appliances (dishwasher, oven range, refrigerator, kitchen vent hood, wine cooler)
  • New laundry machines in each unit
  • New bathroom with new tub, tiled wall bathroom, new bathroom vanity cabinet, new bathroom lighting and hardware, new high-end bathroom tile
  • New lighting fixtures in each room
  • New Keyless entry door lock system
  • New high-end windows treatment in each unit

EXECUTIVE SUMMARY

Growth Investment Group Pasadena is proud to offer 160 N Holliston Ave, a turn-key and upgraded luxury apartment in the City of Pasadena. The property is located within the central Pasadena area (near Pasadena City College and California Institute of Technology), south of 210 Freeway and just within minutes to Old Town Pasadena area. This offering provides investors with an easy to manage upgraded apartment in an excellent location in Pasadena (Walk Score 91, Bike Score 86). The HEAVY lifting process of tenants buyout, tenants relocations, and property upgrades have been completed between 2021-2023 (±18 months process), which makes this property very easy to manage and maintain with much better cash flow.

The property was built in 1962 and completely renovated between 2021-2023. It is a two-story garden style apartment with beautiful new drought-tolerant landscaping, and completely redone façade and exterior paint, which offers an excellent curb appeal. It has a total of ±8,984SF building size and situated on a large ±12,318SF R4 lot. It offers an excellent unit mix of four (4) large 2-bedroom+2-bathroom, and eight (8) 1-bedroom+1-bathroom units. 

11 out of 12 of the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades, new high durability wood vinyl and tile flooring, state of the art mini-split HVAC systems, new kitchens which include new cabinets, new modern quartz countertops (w/ small breakfast counter), and new stainless-steel appliances (gas range, refrigerator, dishwasher, wine cooler, and kitchen vent hood), new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures, and new led lighting in living room, bedroom and kitchen area, mirrored closet doors. Each unit is complete with an in-unit laundry machine (seller provided). Four ground-floor units have small private patio area.

There are 12 parking spaces provided by a detached carport and tuck-under parking. Each unit is separately metered for gas and electric and serviced by central water heaters.  

LOCATION AMENITIES AND ACCESS

The property is located within the central Pasadena area (near Pasadena City College and California Institute of Technology), south of 210 Freeway and just within minutes to Old Town Pasadena area. Boasting a Walk Score of 91 with SUPERB demographics, the 160 N Holliston offers a superior location with easy access to FWY 210 and FWY 134. It is approximately a mile away from Pasadena Playhouse District, and around ±1.8miles from Old Town Pasadena. It is also just minutes from The Pasadena Convention Center, Norton Simon Museum, Pacific Asia Museum, shopping and dining in the area. The property has superb access to 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.

 




Due Diligence


Broker Contact

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

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Office:
GROWTH INVESTMENT GROUP CALIFORNIA
1487 E Colorado Blvd.
Pasadena, CA 91106
By Appointment Only - No Walk-ins
Front Office: 626.594.4901

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