20-u Beautifully Upgraded Asset, Class A Loc. | 1745 Grevelia St
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20-u Beautifully Upgraded Asset, Class A Loc. 1745 Grevelia St
20 Unit Apartment Building $8,600,000 ($430,000/Unit) 4.24% Cap Rate South Pasadena, CA 91030
Investment Highlights
- Rare Opportunity to buy a multi-generational 20-unit apartment in a Class A Location; South Pasadena School; No Local Rent Control
- Priced-to-Sell multi-generational multifamily property offered at a reasonable actual CAP Rate for a HIGH-QUALITY location and asset; Proforma CAP R
- Beautifully updated garden-style apartment; Arguably one of the best garden-style apartment properties in South Pasadena
- Several blocks away from the City of San Marino, south side of Grevelia St (not abutting 110FWY)
- Garage parking with recently updated driveway, NO SHARED DRIVEWAY with neighboring properties!
- Excellent unit mix with Large 1bedroom and 2bedroom units; individually metered for electricity and gas, community laundry room and garage parking
Executive Summary
Growth Investment Group California is proud to offer Grevelia Gardens, a beautifully updated 20-unit apartment in a superb location in the City of South Pasadena, California. The property offers a superb location on the south side of Grevelia Street (not abutting FWY110), crossing Fair Oaks Ave and just within walking distance to Fair Oaks Ave Retail corridor and Mission Street Downtown District, Garfield Park, and only several blocks away from the City of San Marino.
It has a Walk Score 87 out of 100, demonstrating a high “walkability” to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. It is also located within the South Pasadena School District with its superb demographics and an average household income of ±$180,692 within a mile radius.
Arguably one of the best apartments in South Pasadena, the property is a beautifully upgraded garden style apartment with an attractive center courtyard. It was built in 1947 and updated in 2024. Its center courtyard has a manicured and very well-maintained landscaping, where each unit has its own garden atmosphere. It has a total of 14,100SF building area and on a large ±24,678 SF Lot size.
The property offers an excellent unit mix of four (4) large 2bed+1bath and sixteen (16) large 1bed+1bath units. All units are large with plenty of natural light and windows. Each unit has an excellent layout with an original hardwood floor, smooth ceiling, custom color paint in some units, plenty of storage cabinets, and much more. Eight units will be completely upgraded with a new kitchen, in-unit stacked laundry machine, new bathroom, new ductless mini-split A/C system, and much more. The brand-new kitchen has a high-end kitchen cabinet with quartz countertops, stainless steel appliances, and a dishwasher. Each unit has a dining area complete with ceiling fans. The updated units have mini split A/C and ceiling fans in the bedroom.
Owners have made a lot of major improvements such as a new driveway, new exterior paint, improvements to the landscaping, completely upgraded several units (with updated electrical, etc.). Parking is provided by 20 garage parking (1 for each unit), and its own driveway (no shared driveway). Each unit is individually metered for electricity and gas and the building has a shared laundry room.
It has a Walk Score 87 out of 100, demonstrating a high “walkability” to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. It is also located within the South Pasadena School District with its superb demographics and an average household income of ±$180,692 within a mile radius.
Arguably one of the best apartments in South Pasadena, the property is a beautifully upgraded garden style apartment with an attractive center courtyard. It was built in 1947 and updated in 2024. Its center courtyard has a manicured and very well-maintained landscaping, where each unit has its own garden atmosphere. It has a total of 14,100SF building area and on a large ±24,678 SF Lot size.
The property offers an excellent unit mix of four (4) large 2bed+1bath and sixteen (16) large 1bed+1bath units. All units are large with plenty of natural light and windows. Each unit has an excellent layout with an original hardwood floor, smooth ceiling, custom color paint in some units, plenty of storage cabinets, and much more. Eight units will be completely upgraded with a new kitchen, in-unit stacked laundry machine, new bathroom, new ductless mini-split A/C system, and much more. The brand-new kitchen has a high-end kitchen cabinet with quartz countertops, stainless steel appliances, and a dishwasher. Each unit has a dining area complete with ceiling fans. The updated units have mini split A/C and ceiling fans in the bedroom.
Owners have made a lot of major improvements such as a new driveway, new exterior paint, improvements to the landscaping, completely upgraded several units (with updated electrical, etc.). Parking is provided by 20 garage parking (1 for each unit), and its own driveway (no shared driveway). Each unit is individually metered for electricity and gas and the building has a shared laundry room.
Property Facts Under Contract
| Price | $8,600,000 | Apartment Style | Low Rise |
| Price Per Unit | $430,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.57 AC |
| Cap Rate | 4.24% | Building Size | 14,100 SF |
| Gross Rent Multiplier | 15.56 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1947 |
| Property Type | Multifamily | Parking Ratio | 1.42/1,000 SF |
| Property Subtype | Apartment |
| Price | $8,600,000 |
| Price Per Unit | $430,000 |
| Sale Type | Investment |
| Cap Rate | 4.24% |
| Gross Rent Multiplier | 15.56 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 14,100 SF |
| No. Stories | 2 |
| Year Built | 1947 |
| Parking Ratio | 1.42/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
| 2+1 | 4 | - | - |
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Walk Score ®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 5318-005-035 | Improvements Assessment | $3,978,000 |
| Land Assessment | $2,652,000 | Total Assessment | $6,630,000 |
PROPERTY TAXES
Parcel Number
5318-005-035
Land Assessment
$2,652,000
Improvements Assessment
$3,978,000
Total Assessment
$6,630,000
zoning
| Zoning Code | SPR310000* |
| SPR310000* |
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20-u Beautifully Upgraded Asset, Class A Loc. | 1745 Grevelia St
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