TROPHY CLASS-A LOCATION: 14-Unit Value-Add in the Heart of the South Lake Ave District Walker’s Paradise (95) | Steps to Erewhon & Trader Joe's | Generational Hold (Owned Since 1957) | Highest Density Zoning
Can Be Acquired together with 1677 N Lake Ave, Pasadena (12 units)
INVESTMENT HIGHLIGHTS
- Trophy-Quality Class-A Location: Situated in the extremely coveted SOUTH LAKE AVE DISTRICT, offering a rare opportunity to acquire a premier asset in one of the San Gabriel Valley’s strongest and most desirable submarkets (walk to Erewhon, Trader’s Joe, Shopping, Dining)
- Strong Value-Add Upside: Offers a ±6.47% PROFORMA Cap Rate
- Exceptional Demographics: Located in an affluent neighborhood boasting an average household income of ±$146,650 within a one-mile radius.
- Strategic Transit Access: Superb regional connectivity with quick access to the 210, 134, and 110 freeways, providing an easy commute to Downtown Los Angeles, Burbank, and Glendale employment centers.
- Class-A location in the strongest submarkets in the San Gabriel Valley
PROPERTY HIGHLIGHTS
- A clean and attractive Mid-Century building with attractive curb appeal and well-maintained central courtyard
- Ideal Operational Scale: no on-site manager is required
- One unit can be delivered vacant; each unit has upgraded electrical subpanel
- Large Lot for future Redevelopment Potential: 14,023 SQFT lot zoned R4/RM-48, offering long-term potential for for-sale housing or condominium redevelopment.
- Carport parking in the back, No Parking Soft-Story Retrofit is required
- Amenities: courtyard/bbq area, carport parking, laundry room semi private balcony/patio
- SB721 passed inspection
- Separately Metered: individually metered for electricity and gas, individual water heater
EXECUTIVE SUMMARY
Growth Investment Group California is proud to present 295 S Hudson Ave, a premier 14-unit value-add apartment investment located squarely in the heart of Pasadena’s highly coveted South Lake Avenue District. As a multi-generational hold property owned by the same family since 1957, this offering represents a true generational acquisition. Assets with this ownership history and ideal operational scale provide investors an exclusive opportunity to secure a well-maintained property in a trophy location with an attractive ±6.47% PROFORMA Cap Rate.
Location is the ultimate amenity for this investment. Categorized as a "Walker’s Paradise" with a phenomenal Walk Score of 95, 295 S Hudson Ave is situated just one lot away from the corner of Hudson Ave and Del Mar Blvd. Tenants are positioned directly across from Trader Joe’s and a major executive office tower on Lake Ave, with a brand-new Erewhon market and myriad upscale dining options just a short stroll away. This Class-A neighborhood provides residents with effortless access to historic Old Pasadena (housing over 200 premier shops and vibrant nightlife), the Playhouse District, and Caltech. Furthermore, regional transit access to the 110, 210, and 134 freeways connects residents instantly to major employment hubs in Downtown Los Angeles, Glendale, and Burbank.
Constructed in 1954, the clean Mid-Century building features attractive curb appeal and a charming center garden courtyard with outdoor seating. The property encompasses 9,945 square feet of living space on a 14,023 square-foot highest-density residential lot. The highly desirable unit mix consists of two (2) 2-bedroom/1-bathroom units and twelve (12) spacious 1-bedroom/1-bathroom units, averaging ±711 square feet each. Floor plans feel bright and expansive, featuring large windows for natural light and either original or upgraded hardwood flooring. Each unit has an upgraded electrical panel and subpanel, semiprivate patio/balcony, individual water heaterunit (gh the wall A/C. One unit (#1) has been upgraded with new kitchen and new 2nd bathroom.
Operationally, the building is highly efficient. Each unit is equipped with an upgraded electrical panel and subpanel, an individual water heater, and through-the-wall A/C. Utilities are individually metered for electricity and gas, and tenants share a central laundry room. Parking is provided by 10 carport spaces in the rear, eliminating tuck-under parking and the need for any soft-story retrofitting. With a passed SB721 inspection, this asset provides an incoming investor with a bread and butter apartment in an excellent part of Pasadena.
LOCATION AND AREA AMENITIES
Situated right on Lake Ave with a wide street and views of the San Gabriel Mountain, this community provides residents easy access to many amenities Pasadena has. With a Walk Score of 81, the property is categorized as "Very Walkable". Tenants are minutes away from the historic Old Pasadena, which houses over 200 premier shops, upscale dining, and vibrant nightlife, and South Lake Ave District. World-class institutions and cultural landmarks, including the California Institute of Technology (Caltech), the Norton Simon Museum, and the historic Tournament of Roses House, are all minutes away. Combined with effortless access to major transit corridors, 295 S Hudson delivers an unmatched living experience for premium tenants.