Description

411-417 N Euclid Ave, a turnkey/fully upgraded 10 units apartment community in the City of Pasadena. The property is unique due to its single-story style layouts and its proximity to Old Town Pasadena, and Rose Bowl. The properties offer an investor the rare opportunity to own a high cash flowing apartment property in an extremely convenient location in Pasadena. This turn-key condition, combined with higher cap rate (compared to other properties in this area) offer investors attractive investment vehicle to combat raging inflation. The property has been completely renovated with permits, and offers an efficient mix of nine 1bedroom, and one studio units. The community is gated and has secured entrance with shared driveway with the property next door which is also for sale by the same owner (405 N Euclid – 3 units + Approved plan for ADU units). The property was built in 1950 and has been completely renovated with permits in 2022-2023. It consists of 3 single-story buildings and situated on a large ±11,627sf R3 lot. Each unit is unique to its vaulted ceiling layout with most units have its private patio. All the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades (plumbing upgrade in unit), new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split HVAC systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher, and refrigerator), and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures. The exterior upgrades include new entry gate, new parking gate, new exterior paint and signage, completely redone landscaping, updated electrical, and much more! The ownership spent significant amount of time and capital in relocating the previous tenants and completely upgraded the exterior and interior of the property, making this a turnkey investment for new owner. The property is separately metered for electricity and gas. Parking is provided by 10 shared parking area in the adjacent lot and back+front portion of the lot; there is no soft-story parking required. Given its excellent real estate fundamentals, complete renovation, and a convenient location, the 411-417 Euclid is an unparalleled investment for an investor seeking stable risk-adjusted returns, wealth preservation, and a hedge against inflation.