Listed by KW Commercial
$2,838,000
1836 N Allen Avenue
Details
APN 5852-001-013
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,959
Units 6
Beds 2
Cap Rate 3.84%
NOI $109,077
Occupancy 83.33%
Tenancy Multi
Price per SqFt $476
Class B
Year Built 1986
Year Renovated 2021
Buildings 3
Lot Size (SqFt) 10,320
Zoning R3
Parking Spaces 12 spaces
Parking Per SqFt 2.01
Investment Type Value Add
Sale Condition 1031 exchange
6 units in N Pasadena - Townhome style apartments investment
Marketing description
Turn key - Investment : Pride of ownership for 37 years.
6-unit townhome-style apartment building consisting of spacious 2-bedroom, 2-bath units averaging approximately 993 SF. Each unit features a two-story layout with 2 parking spaces per unit, on-site coin-operated laundry, and recent upgrades including HVAC and electrical panels. First time on the market in over 30 years with significant rental upside.
Investment highlights
- Well-maintained asset with a stable, long-term tenant base and below-market rents, offering a clear value-add opportunity through rental repositioning
- The property provides a low-maintenance operational profile with strong fundamentals, making it ideal for investors seeking both stability and upside in a supply-constrained submarket
- Located in a desirable Altadena/Pasadena submarket near N. Allen Ave and New York Dr
- The property benefits from a quiet residential setting with close proximity to major employment centers, retail corridors, and Pasadena amenities
- The area is known for strong tenant demand, high-income demographics, and limited multifamily inventory
Listing Contacts
Listed by KW Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$109,077.00
$9,089.75/mo
Valuation Metrics
0
DSCR
3.84%
Cap Rate
3.84%
ROI
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