Pasadena (NE) (646) Homes with Guest Parking features

Welcome to Pasadena, California, a vibrant city nestled in the heart of Los Angeles County, known for its rich history, stunning architecture, and a vibrant cultural scene. With its picturesque tree-lined streets and charming neighborhoods, Pasadena is a desirable destination for families, young professionals, and retirees alike. The city boasts a delightful blend of historic homes and modern amenities, making it a perfect place to call home.

One of the standout features of homes in this beautiful region is the availability of guest parking. In a city where hospitality is part of the local culture, having ample guest parking is a true asset. Imagine hosting friends and family for gatherings, holidays, or simply weekend get-togethers without the stress of finding parking. Many homes in Pasadena are designed with this thoughtful feature in mind, providing convenience for both residents and their guests.

Pasadena is also home to renowned attractions such as the iconic Rose Bowl, the stunning Huntington Library, and a plethora of dining and shopping options along Colorado Boulevard. With its excellent schools, beautiful parks, and a strong sense of community, Pasadena offers a lifestyle that is both enriching and fulfilling.

Whether you’re looking for a charming bungalow or a modern family home, Pasadena’s real estate market has something for everyone. Don’t miss the opportunity to explore homes with guest parking in this exceptional city, where comfort and hospitality come together in perfect harmony. Welcome to Pasadena – your new home awaits!

Newest Pasadena (NE) (646) Homes with Guest Parking features

$9,680,000

44 Beds ⋅ 44 Baths ⋅ 26990875 MLS ⋅ Active Status

Rare opportunity to acquire the Wright Avenue Apartments, a 44-unit (43 + 1 non-conforming 2+2) gated multifamily community in Pasadena's desirable Olive Heights / North Central neighborhood. Built in 1971 on an expansive 35,252 SF lot, the property spans approximately 22,784 SF with a functional mix of 33 one-bedroom units, 10 studios, and one non-conforming two-bedroom/two-bath. Residents enjoy controlled-access entry, gated covered parking, on-site laundry, bicycle storage, and a tranquil courtyard featuring a koi pond and tree-shaded seating, while select units feature updated kitchens and interiors. The offering presents extraordinary value-add potential: current rents average $1,486/unit against $2,215 at market a massive 69% upside as units turn to market rents plus an additional path to 59% upside through possible ADU development of the rear parking area into 8 two-bedroom ADUs (buyer to verify). At $220,000 per unit and $425/SF, the property trades at a 5.61% current cap rate with market fundamentals supporting 9.47%. The location is exceptional: Very Walkable (Walk Score 86), a 15-minute walk to the Metro A Line Lake Station, and minutes to Old Pasadena's dining and retail, the Rose Bowl, and South Lake Avenue. Anchored by world-class employers including Caltech, NASA's Jet Propulsion Laboratory, Huntington Hospital, and Kaiser Permanente in a zip code with a $105,958 median household income and $1.6M median home price 819 Wright Avenue offers investors scale, stable in-place income, and one of the deepest rent-growth stories in the Pasadena submarket.

819 Wright Avenue, Pasadena

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.