308 Pasadena, South Pasadena, CA 91030
Local realty services provided by:Better Homes and Gardens Real Estate Everything Real Estate
308 Pasadena,South Pasadena, CA 91030
$6,280,000
- - Beds
- - Baths
- 9,990 sq. ft.
- Multi-family
- Active
Listed by: handoko chen
Office: growth investment group pasade626-594-4900
MLS#:AR26054584
Source:CRMLS
Price summary
- Price:$6,280,000
- Price per sq. ft.:$628.63
About this home
REDUCED by $520,000! 20-unit Value-add in South Pasadena (NO LOCAL Rent Control), Walk to Arroyo Seco Golf Course and Mission Street Downtown District, Prime Large R3 Lot with ADU Potential, South Pasadena School District, Exceptional Demographics.
A premier 20-unit value-add investment opportunity in the highly coveted city of South Pasadena. Renowned for its high barriers to entry and exceptionally limited multifamily inventory, South Pasadena offers investors a rare chance to acquire a substantial footprint in a top-tier Southern California submarket with No Local Rent Control (under CA AB1482).
Strategically located a block from the Arroyo Seco Golf Course and within walking distance to the vibrant Mission Street Downtown District, the property provides tenants with unparalleled access to premium shopping, dining, and community amenities along Mission Street and Fair Oaks Avenue. The surrounding area boasts exceptional demographics, including an average household income exceeding $178,928 within a one-mile radius, and falls within the prestigious South Pasadena Unified School District.
Built in 1953, this distinct Mid-Century Modern garden-style community features a well-manicured front lawn and strong curb appeal. The 9,990 SF building rests on an expansive 21,008 SF R3-zoned lot, presenting significant potential for future ADU development. It has a sparkling and fenced swimming pool, and offers a highly desirable unit mix consisting of two (2) 2-bedroom/1-bathroom unit and eighteen (18) 1-bedroom/1-bathroom units. Each unit has individual water heater. The fully upgraded units have new flooring throughout, new kitchen with new cabinets and quartz countertops, new bathroom with tiled wall, and so much more.
Current ownership has successfully proven the value-add concept by fully upgrading 15 units with high-end finishes, including new flooring, modern kitchens and bathrooms, and dual-pane windows throughout. The remaining five classic units provide a clear and actionable path for the new owner to capture significant rental upside. The property is gated, separately metered for electricity and gas, and includes 20 on-site parking spaces in the rear, alongside a seller-owned community laundry facility....
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Home facts
- Year built:1953
- Listing ID #:AR26054584
- Added:57 day(s) ago
- Updated:May 09, 2026 at 01:23 PM
Rooms and interior
- Flooring:Laminate, Vinyl, Wood
- Kitchen Description:Gas Range
- Living area:9,990 sq. ft.
Heating and cooling
- Cooling:Wall Window Units
- Heating:Wall Furnace
Structure and exterior
- Roof:Flat
- Year built:1953
- Building area:9,990 sq. ft.
- Lot area:0.48 Acres
- Lot Features:Landscaped, Level with Street, Near Public Transportatn, Rectangular Lot, Street Level
- Architectural Style:Mid Century Modern
- Construction Materials:Stucco
- Foundation Description:Raised
- Levels:2 Story
Utilities
- Water:Public, Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$6,280,000
- Price per sq. ft.:$628.63
- Tax amount:$74,774
Features and amenities
- Appliances:Gas Range
- Laundry features:Common Area
- Amenities:Carbon Monoxide Detectors, Ceiling Fans, Quartz Counters, Smoke Detectors
- Pool features:Community Pool
Parking
- Total parking spaces:20
- Parking description:19 Carport Space(s), Assigned, Carport
- Carport spaces:19
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