267 Barthe Dr, Pasadena, CA 91103

Property Description

I am pleased to offer for sale Pasadena Gardens, a 18-unit apartment community located at 267 Barthe Drive. The subject property is located south of Mountain Street and east of the 210 Freeway. The building is within a 5-minute drive to a slew of vibrant restaurants, cafes, bars, theaters, grocery stores, gyms, and entertainment choices on Lake Avenue, Colorado Boulevard, and South Arroyo Parkway. The property is in a location that is safe, attraction-rich, and near renowned schools and strong employment drivers like California Institute of Technology, Jet Propulsion Laboratory, and Fuller Theological Seminary. Situated on a 21,376 square foot parcel, the property is comprised of one studio, eight one-bedroom units, and nine two-bedroom units. The property has 122% remaining rental upside through unit renovations. Pasadena Gardens presents investors a unique opportunity to attain a rare mid-sized asset in a prime Pasadena location that is a short distance to the most attractive thoroughfare in the submarket. This area is currently undergoing a burgeoning gentrification that will support continued rental growth for a new investor who is looking to capitalize on the value-add potential this asset offers.