530 540 N Catalina Avenue, Pasadena, CA 91106
Local realty services provided by:Better Homes and Gardens Real Estate Property Shoppe
530 540 N Catalina Avenue,Pasadena, CA 91106
$3,600,000
- - Beds
- - Baths
- 7,882 sq. ft.
- Multi-family
- Active
Listed by:handoko chen
Office:growth investment group pasade
MLS#:AR25202676
Source:CRMLS
Price summary
- Price:$3,600,000
- Price per sq. ft.:$456.74
About this home
12-unit Value-add near Old Town Pasadena, Very Well Maintained, First Time for Sale Since 1984, Significant Rental Upside, Easy to Manage and Rent, Upgraded Electrical Panels, Carport Parking, Simple Unit Mix. Proforma CAP Rate 6.39%.
VILLA CATALINA - 530-540 N Catalina Ave, a 12-unit value-add apartment in a highly desirable location in the City of Pasadena, CA. These 2 properties have been very well maintained by current family who have owned it since 1984. The properties are located on a quiet residential street on Catalina Ave crossing Villa St, and only minutes away from most of City of Pasadena amenities such as Old Town Pasadena, Lake Ave Shopping District, Rose Bowl area, CALTECH and PCC. It is surrounded by other small apartments and single-family houses and has excellent demographics of ±$120,347 average household income in a 1-mile radius.
The properties consist of six-unit apartments each (530 and #540) making up the total of 12 units. They were built in 1953 and 1954, have a total building size of 7882 SF and sits on a large 18,683 SF total lot size (R3 zone – medium high-density). The property offers excellent curb appeal with well-manicured front lawn and center courtyard area. The front half of each property is a single-story layout (total 4 units) and the back half are 2 story apartments (total 8 units).
The unit mix is easy to manage and rent with all 1bedroom unit. Each unit is spacious and bright with an average unit size of 788SF (buyer to verify). Two front units have semi-private patio area. The ground floor units have original hardwood flooring, while 2nd floor units have carpet flooring. Each unit has through the wall A/C in living room and bedroom, ceiling fans, tiled kitchen, and tiled bathroom. All tenants are on month-to-month lease and current income is approximately 31% below market.
Each unit is separately metered for electricity and gas. Parking is provided by 12 carport spaces at the back (1 for each unit). There is no parking soft story retrofit required. Building is serviced by a shared laundry room (leased machines). The large lot size, R3 zoning (medium high density) and carport parking provide superb opportunity for new owner to add ADUs units in the back.
The property is located just two blocks away from Lake Ave and within walking distance to myriads of shopping and other amenities on Lake Ave and Colorado Blvd. It has an excellent demographics of $120,347 AHH income within a 1-mile radius.
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Home facts
- Year built:1954
- Listing ID #:AR25202676
- Added:2 day(s) ago
- Updated:September 11, 2025 at 05:35 PM
Rooms and interior
- Living area:7,882 sq. ft.
Heating and cooling
- Cooling:Wall Window Units
- Heating:Wall Furnace
Structure and exterior
- Roof:Asbestos Shingle
- Year built:1954
- Building area:7,882 sq. ft.
- Lot area:0.43 Acres
Utilities
- Water:Public, Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$3,600,000
- Price per sq. ft.:$456.74
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