55 E California Blvd, Pasadena, CA 91105

Rare Campus Adjacent Outpatient Medical Building – Pasadena, CA

►Rare opportunity to acquire a purpose-built outpatient medical building proximate to Huntington Hospital (5-minute walk; 0.2 miles away).
►First time made available for sale since the building was built in 1982.
Value-add Opportunity with Stable In-Place Cash Flow and Tremendous Upside►50% leased to 3 tenants with a weighted average lease term remaining of 4.7 years. High historical occupancy with a weighted average lease term lapsed of ~15 years.
►Immediate upside through lease up of 16,225 SF vacant space and nearly triple NOI. Future upside in rolling rents to a market level which are approximately 24.4% below market for 33.7% of the building rolling in 2029.
►Further boost cash flow by installing an automated parking system which will drop parking expenses and increase revenue.

Ideal for Owner/User

►Owner/user may immediately occupy the vacant 16,225 SF and enjoy the durable in-place below market cash flow.

Pride of Ownership Asset

►Over $1.6MM in recent renovations and capital improvements inclusive of but not limited to:

• Upgrade modernized elevators

• New boiler

• New cooling tower

• New 15-year roof coating

• ADA upgrades

• Various minor maintenance items and market-ready suite improvements