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1837 E Colorado Blvd, Pasadena, California 91107, Pasadena, 91107 - bed, bath

1837 E Colorado Blvd, Pasadena, California 91107 home-pic-0
ACTIVE$5,100,000
1837 E Colorado Blvd, Pasadena, California 91107
0Bed
0Bath
4,608Sqft
8,997Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Investment Location: Situated in Pasadena, a highly desirable city in Los Angeles County, known for its strong rental market, proximity to Pasadena City College, public transportation, and robust employment base, ensuring consistent renter demand.
Top Cons:
Age of Construction: Built in 1923, the buildings are over a century old, which may lead to higher ongoing maintenance costs and potential future capital expenditures for aging infrastructure and systems.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1923 (102 years old).
Condition: The property, built in 1923, features 'recently renovated units' in the Colorado Blvd building, as confirmed by the images. The kitchens showcase modern dark wood cabinetry, light quartz-style countertops, and a full suite of stainless steel appliances (gas range, microwave, dishwasher, refrigerator), along with contemporary light fixtures. The living areas and bedrooms also feature updated LVP flooring and fresh paint, indicating a significant and recent interior overhaul in these units. While the overall buildings are old and some exterior elements (like window AC units) suggest not all systems are brand new, the renovated units are move-in ready and meet current quality standards. The description also notes 'well-maintained buildings,' supporting a 'Good' rating, as the extensive renovations in a significant portion of the units elevate the condition beyond 'Fair' despite the age of the original structure.
Year Built
1923
Close
-
List price
$5.1M
Original List price
$5.1M
Price/Sqft
$1,107
HOA
-
Days on market
-
Sold On
-
MLS number
SB25268547
Home ConditionGood
Features
Good View:
View-

About this home

12-unit building (12 legal Studios converted to 1-bed layouts, Total Sq. Ft. 4,608) at 1837 E Colorado Blvd (APN: 5746-017-030, Lot Size 8,997) and an 8-unit building (1 three-bed two-bath and 7 one-bed one-bath units, Total Sq. Ft. 5,322) at 31 N Parkwood Ave (APN: 5746-017-092, Lot Size 10,103). Both properties are being sold together and concurrently as one combined 20-unit portfolio. These well-maintained buildings are located near Pasadena City College with strong current cashflow and consistent renter demand. The Colorado Blvd property features recently renovated units where all studios were converted into functional 1-bed layouts, along with updated interiors and improved efficiency. The Parkwood building offers a balanced mix of larger floorplans and stable tenancy. Both assets share onsite parking, landscaping, and operational efficiency. This 20-unit portfolio provides an excellent opportunity for an investor seeking steady income in a high-demand Pasadena rental corridor. Pasadena is one of the most recognized and desirable cities in Los Angeles County and is known for its strong rental market, centralized location, public transportation access, employment base, and popular local amenities where tenants can live, work, and play locally.

Price History

Date
Event
Price
03/11/22
Sold
$5,898,000
08/08/18
Sold
$4,100,000
08/12/14
Sold
$2,960,029
04/07/14
Sold
$2,945,000
06/09/05
Sold
$2,250,000
07/21/04
Sold
$501,909
Condition Rating
Good
The property, built in 1923, features 'recently renovated units' in the Colorado Blvd building, as confirmed by the images. The kitchens showcase modern dark wood cabinetry, light quartz-style countertops, and a full suite of stainless steel appliances (gas range, microwave, dishwasher, refrigerator), along with contemporary light fixtures. The living areas and bedrooms also feature updated LVP flooring and fresh paint, indicating a significant and recent interior overhaul in these units. While the overall buildings are old and some exterior elements (like window AC units) suggest not all systems are brand new, the renovated units are move-in ready and meet current quality standards. The description also notes 'well-maintained buildings,' supporting a 'Good' rating, as the extensive renovations in a significant portion of the units elevate the condition beyond 'Fair' despite the age of the original structure.
Pros & Cons

Pros

Prime Investment Location: Situated in Pasadena, a highly desirable city in Los Angeles County, known for its strong rental market, proximity to Pasadena City College, public transportation, and robust employment base, ensuring consistent renter demand.
Substantial Portfolio Size: A combined 20-unit portfolio across two well-located buildings offers significant scale, diversified income streams, and potential for operational efficiencies, appealing to serious investors.
Recent Unit Upgrades: The Colorado Blvd property features recently renovated units, including the conversion of studios to functional 1-bedroom layouts with updated interiors, enhancing tenant appeal and rental income potential.
Proven Financial Performance: The portfolio boasts strong current cashflow and consistent renter demand, coupled with stable tenancy in the Parkwood building, indicating a reliable and healthy income-generating asset.
Diversified Unit Mix: Offering a mix of 1-bedroom (converted studios) and larger 1-bedroom and 3-bedroom units, the portfolio caters to a broad tenant demographic, contributing to stable occupancy and reduced vacancy risk.

Cons

Age of Construction: Built in 1923, the buildings are over a century old, which may lead to higher ongoing maintenance costs and potential future capital expenditures for aging infrastructure and systems.
Limited Financial Transparency: While strong cashflow is mentioned, specific financial details such as current rental income per unit, detailed operating expenses, or a pro forma cap rate are not provided, requiring extensive due diligence from potential buyers.
Regulatory Environment: As a multi-unit property in Pasadena, the asset is subject to California's stringent landlord-tenant laws, including statewide rent control (AB 1482) and potential local ordinances, which could impact rent growth and tenant management flexibility.

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