1299 E Green St - Apartments FOR SALE


Pasadena, CA 91106- South Lake
$25,000,000 USD
310-892-2244
1299 E Green St, Pasadena, CA for Sale
$25,000,000 USD
Apartments - FOR SALE
1/19
null | Request Cap Rate

1299 E Green St
Pasadena, CA 91106
South Lake


HIGHLIGHTS

  • Amenities for Comfort and Social Interaction
  • Mixed-Use with Strategic Location
  • One Non-conforming Unit
  • Community-focused Affordable Housing
  • Great Design

OVERVIEW

Mixed-Use 91 Single room occupancy units with one 1500 sf retail/restaurant space. ***PLEASE CALL ME FOR A SETUP SHEET*** Buyer can assume the existing loan at 3.67% for 5 more years. Seller is willing to entertain a second Trust Deed at the same interest rate. (Seller Approval and Restrictions apply) Executive Summary Nestled in the heart of picturesque Pasadena, California, stands an exemplary symbol of community and affordability: a 91-unit single-room occupancy housing building. Among its units, there are 82 designated for moderate income residents which is basically equal to market rents and 9 for low-income individuals, spanning a generous +/- 250 rentable square feet each, all designed to provide comfort and dignity to its diverse range of residents. From the moment one steps inside, they are greeted by a warm and inviting atmosphere, echoing the spirit of inclusivity and support. Moreover, this building isn't just about providing homes; it's about fostering a vibrant community. With its strategic location at 1299 East Green St, near Pasadena City College and Caltech, residents have easy access to education and employment opportunities. The building boasts additional amenities, including a refreshing pool and a large outdoor courtyard, creating spaces for relaxation and social interaction. Additionally, the building features a spacious 1500 square foot retail restaurant space, which houses Kokoroll Cafe, a beloved eatery with several locations across Southern California. Kokoroll Cafe brings its signature blend of flavors and hospitality to the community, further enhancing the neighborhood's vibrancy. In a city renowned for its beauty and charm, this SRO affordable housing building stands as a beacon of hope and possibility, offering a sanctuary for those in need while enriching the fabric of Pasadena's diverse community. *One non-conforming unit Location Located in Southern California, Pasadena is a city renowned for its rich tapestry of culture and history. Among its many attractions, the Rose Bowl Parade stands as a quintessential celebration, drawing visitors from far and wide to marvel at its elaborate floats and vibrant displays of floral artistry. Each year, on New Year's Day, the streets of Pasadena come alive with the sounds of marching bands and the spectacle of intricately decorated floats, making it a cherished tradition not just for locals but for spectators around the world. Beyond its iconic parade, Pasadena's charm extends to its bustling thoroughfare of Colorado Boulevard. Lined with an eclectic mix of shops, boutiques, and eateries, this vibrant street offers an unparalleled shopping experience. From designer boutiques to quaint cafes, there's something for everyone along this bustling avenue. Whether strolling amidst the fragrant blooms of the Rose Bowl Parade or indulging in retail therapy on Colorado Boulevard, Pasadena beckons visitors with its timeless allure and vibrant energy. Listing agent has an ownership interest.

FOR SALE DETAILS

PRICE

$25,000,000 USD

PRICE/SF

$399 USD /SF

# OF UNITS

91

PRICE/UNIT

$274,725

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mixed-Use

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2009

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.59 AC

LAND SF

25,700 SF

ZONING

PSC

APN/PARCEL ID

5735-001-032

ASK ABOUT THIS PROPERTY

Lee JohnsonBerkshire HathawayMore Info
310-892-2244

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Lee JohnsonBerkshire HathawayMore Info
310-892-2244

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.