1299 E Green Street, Pasadena, CA 91106
List Price: $25M
Listing Status: Active
0Days on Market: 8
0 Bedrooms · 91 Bathrooms · 62,683 sq ft
Property Type: ResidentialIncome
Year Built: 2009
Lot Size: 25,668 sq ft
Private Pool: Yes
MLS Number: 26865683
About This Property
Green Street Apartments presents a rare value-add investment opportunity in Pasadena, comprising 90 residential units and approximately 1,500 square feet of street-front retail. The property features structured parking, a swimming pool, fitness center and resident amenities while generating established in-place cash flow. The residential units are subject to affordability requirements. Current ownership is renovating units and achieving approximately $200 per month in additional rent within applicable regulatory limits, demonstrating further upside through continued unit renovations, modernization of common areas, ancillary revenue growth and operating efficiencies. Danbi Coffee, a beloved specialty cafe known for its minimalist design, curated coffee program, and serene atmosphere. With several locations across Southern California, Danbi Coffee brings a refined and welcoming presence to the neighborhood, serving as a community gathering spot and enhancing the property's cultural and commercial appeal.Pasadena itself is a city celebrated for its cultural richness and historic charm. Home to the world-famous Rose Bowl Parade, held every New Year's Day, Pasadena draws thousands to witness the pageantry of elaborate floats and musical performances. Beyond the festivities, Colorado Boulevard serves as a vibrant commercial corridor, lined with boutiques, cafes, and one-of-a-kind shops that reflect the city's eclectic spirit.
Listing provided by: Lee Johnson DRE #01259992 310-829-0629 lee@leejohnsonre.com, Berkshire Hathaway HomeServices California Properties