819 Wright Avenue, Pasadena, CA 91104

Pasadena
Local realty services provided by:Better Homes and Gardens Real Estate Haven Properties
819 Wright Avenue,Pasadena, CA 91104
$9,680,000
  • 44 Beds
  • 44 Baths
  • 22,784 sq. ft.
  • Multi-family
  • Active
Listed by: jacob plewa
Office: remax commercial & investment realty310-802-2500
MLS#:26990875
Source:CRMLS

Price summary

  • Price:$9,680,000
  • Price per sq. ft.:$424.86

About this home

Rare opportunity to acquire the Wright Avenue Apartments, a 44-unit (43 + 1 non-conforming 2+2) gated multifamily community in Pasadena's desirable Olive Heights / North Central neighborhood. Built in 1971 on an expansive 35,252 SF lot, the property spans approximately 22,784 SF with a functional mix of 33 one-bedroom units, 10 studios, and one non-conforming two-bedroom/two-bath. Residents enjoy controlled-access entry, gated covered parking, on-site laundry, bicycle storage, and a tranquil courtyard featuring a koi pond and tree-shaded seating, while select units feature updated kitchens and interiors. The offering presents extraordinary value-add potential: current rents average $1,486/unit against $2,215 at market a massive 69% upside as units turn to market rents plus an additional path to 59% upside through possible ADU development of the rear parking area into 8 two-bedroom ADUs (buyer to verify). At $220,000 per unit and $425/SF, the property trades at a 5.61% current cap rate...

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Home facts

  • Year built:1971
  • Listing ID #:26990875
  • Added:1 day(s) ago
  • Updated:September 22, 2026 at 10:32 AM

Rooms and interior

  • Bedrooms:44
  • Total bathrooms:44
  • Kitchen Description:Dishwasher
  • Living area:22,784 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Central
  • Central air:Yes

Structure and exterior

  • Year built:1971
  • Building area:22,784 sq. ft.
  • Lot area:0.81 Acres

Finances and disclosures

  • Price:$9,680,000
  • Price per sq. ft.:$424.86

Features and amenities

  • Appliances:Dishwasher

Parking

  • Total parking spaces:50
  • Parking description:Carport, Covered, Gated, Guest
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