Price: $6,250,000 | 16 Total Units
Lot Size: 55,499 SF | 7 Buildings Totaling 11,874 SF
ADDRESS
1111, 1121-1123 N Los Robles Avenue & 392-406 Douglas Street
Pasadena, CA 91104
Colliers International’s Ghobadi Multifamily Team is delighted to present these exceptional adjacent properties located at 1111, 1121-1123 N. Los Robles Avenue, and 392-406 Douglas Street, Pasadena, 91104.
The property at 1111 N. Los Robles Avenue, constructed in 1911, comprises three 1-bedroom/1-bathroom units, two 2-bedroom/2-bathroom units, and three Studio units totaling approximately 5,194 rentable square feet on a parcel of ±29,046 square feet of land zoned PSR3. The adjacent property at 1121-1123 N. Los Robles Avenue, built in 1910, consists of a duplex with a 3-bedroom/3-bathroom unit and a 2-bedroom/2-bathroom unit, resulting in approximately 2,754 rentable square feet on a parcel of ±8,251 square feet of land zoned PSR3. Lastly, 392-406 Douglas Street, constructed in 1923, offers a unit mix of four 1-bedroom/1-bathroom units, one 2-bedroom/2-bathroom unit, and one 2-bedroom/1-bathroom unit totaling nearly 3,926 rentable square feet on a parcel of ±18,202 square feet of land zoned PSR6. The appealing unit mix coupled with its development potential and desirable location in Pasadena makes these buildings an enticing opportunity for investors looking to expand their portfolio.
Situated on N. Los Robles Avenue and Douglas Street between N. Fair Oaks Avenue and N. Lake Avenue, these buildings offer close proximity to Marshall High School and convenient access to Downtown Pasadena with its charming restaurants, bars and abundant shopping options. The properties are also close to the Rose Bowl Stadium and Brookside Golf Course, contributing to the rising demand for rentals in this neighborhood.
PROPERTY INFORMATION
16 total units built in 1911, 1910 and 1923
Well maintained buildings with all units in good condition
Good unit mix of one, two and three bedrooms
Desirable Pasadena location
Properties on N. Los Robles Avenue are on the National Register of Historic Places which gives potential for significant tax relief (Mills Act)
Huge development potential
Roofs are in good condition
Eight units have central A/C and heat
All copper plumbing throughout
Newer wiring and breaker subpanels
30 parking spaces
220V electric car charging outlets
Potential for additional income by renting garages, carport and two large basements
In-unit laundry in all units on Douglas St as well as 1121 and 1123 N. Los Robles Ave
Opportunity to build additional units and ADU
Up the street from Downtown Pasadena
Very short trip from Marshall High School
Close proximity to the Rose Bowl Stadium and Brookside Golf Course
Plenty of nearby shops, restaurants and bars
Easy access to the 210 Freeway