37 Units TURNKEY Next to Old Pasadena | 6.00% Cap Rate | Ideal 1031 Exchange with 100% Upgraded

Highlights:

• Premier Old Pasadena-Adjacent Location: Exceptionally situated on a mature, quiet residential street just two blocks north of historic Old Pasadena, offering a Walk Score of 80 and an exceptional Bike Score of 97.
• Highly Attractive Day-One Returns: Delivers a strong 6% In-Place Cap Rate (Self-Managed Scenario) with the ability to achieve a 6.74% Proforma Cap Rate
• Ultimate Turnkey Asset (1031 Exchange Ready): Comprehensively renovated between 2022 and 2026, providing a zero-deferred-maintenance acquisition perfect for 1031 exchange buyers, first-time investors, or owner-users.
• Pristine Asset with Brand New ADUs: A beautifully upgraded Mid-Century Modern building featuring 7 recently completed, fully permitted Accessory Dwelling Units (ADUs) equipped with an ADA ramp.
• Fully Modernized Interiors: Every unit features luxury, high-end finishes including new quartz kitchen countertops, dishwashers, completely remodeled bathrooms, new vinyl plank flooring, new window treatments, modern LED lighting, and in-unit laundry machines.
• Heavily Upgraded Infrastructure: Operationally fortified with newly upgraded electrical panels and subpanels, fully sprinklered units, and energy-efficient mini-split HVAC systems in all living rooms and bedrooms. Units are separately metered for gas and electricity, serviced by master water heaters.
• Secure & Elevated Tenant Experience: Features excellent curb appeal, a secured entrance with electronic RFI unit locks, a beautifully maintained center courtyard with outdoor seating, and private balconies for most units.
• Ample Gated Parking: Provides a total of 38 parking spaces (including 11 tandem spaces on the side) in a secure, gated lot.
• Elite Demographics: Positioned in an affluent pocket boasting an average household income of ±$126,480 within a one-mile radius.

Description:

37 Units TURNKEY Next to Old Pasadena | 6.00% Cap (Self-Managed) | Ideal 1031 Exchange with 100% Upgraded Interiors & Exteriors, and 7 New ADUs | Fully Sprinklered + Brand New Electrical Panels & Subpanels, and more.

Growth Investment Group California is proud to present 435 N Euclid Ave, an exceptional 37-unit turnkey apartment community located just blocks from historic Old Pasadena. Offering an attractive going Cap Rate of 6.00% (under a self-managed scenario) alongside future rental upside, this asset is the premier acquisition for investors seeking immediate stability and zero deferred maintenance. The comprehensive 2022–2026 renovation introduced 7 brand-new ADUs to the site, bringing the property to an impressive ±25,536 square feet of building space on a large 23,268 square-foot R3-zoned lot. Surrounded by stellar demographics featuring over $126,000 in average household income within a one-mile radius, this asset commands premium rents in one of Southern California's strongest submarkets, and offers easy access to all amenities City of Pasadena has to offer.

Originally built in 1965, the two-story Mid-Century Modern building has been meticulously modernized while retaining its distinctive architectural charm and welcoming center courtyard. The highly desirable unit mix consists of nine (9) 2-bedroom/2-bathroom, two (2) 2-bedroom/1-bathroom, twenty-five (25) 1-bedroom/1-bathroom, and one (1) studio unit. Floor plans are exceptionally bright and spacious, featuring large windows and private balconies in most units. Every single interior has been gutted and upgraded to luxury standards, boasting new quartz kitchens with dishwashers, designer bathrooms, vinyl plank flooring, in-unit laundry, and individual mini-split HVAC systems in every room.
Operationally, the building’s heavy lifting is completely finished. The property features fully sprinklered units, upgraded electrical panels and subpanels, and separate meters for electricity and gas. Access is tightly controlled via a secured entrance, electronic RFI unit locks, and a gated parking lot providing 38 total spaces.
The building is serviced by master water heaters, has ADA ramp, and has a total of 38 parking spaces (11 are tandem on the side).

LOCATION AND AMENITIES
The location of 435 N Euclid Ave is virtually unparalleled. Situated on a quiet, mature, tree-lined street, tenants are minutes from the Metro Gold Line and the world-class shopping and dining corridors of Colorado Boulevard and Lake Avenue. Near Pasadena’s historic City Hall, it sits just minutes from the California Institute of Technology, Pasadena Community College, and the 210 and 110 Freeways, offering ease of access to neighboring cities and entertainment destinations in the region.

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