146 N Holliston

Pasadena, CA 91106

Extremely Rare 7-unit on Master Net Lease Structure – MINIMUM Landlord Responsibility, Prime Location several blocks from CALTECH and PCC, HIGH 7.13% In-place CAP Rate, Major Systems Completely Upgraded, RM-48 Zone, Approved Plan for 1 ADU is included. 146-154 N Holliston Ave, an impeccably maintained 7-unit multifamily community located in the highly desirable central Pasadena market. Strategically situated just blocks from CALTECH and Pasadena City College, this property represents a premier passive income vehicle. The asset is securely master leased to The Gooden Center (a well-known healthcare operator – has been in the business for ±50-year in the area) under a Single Tenant Net Lease structure, shielding the owner from standard operational headaches. Because the tenant is responsible for insurance, all utilities and almost all maintenance (up to the first $3,000), landlord management responsibilities are kept to an absolute minimum. Coupled with an in-place CAP rate of 7.13%, this offering provides highly attractive positive leverage and outstanding yield for a Class-A location in the West San Gabriel Valley. The property is situated in a quiet residential area and offers a high Walk Score of 92 and Bike Score of 88. It is situated in a highly affluent area with an average household income of ±$141,687 within a 1-mile radius. It offers many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd. Built in 1922, the ±5,443 SF property rests on a spacious ±12,313 SF RM-48 zoned lot. It offers a highly desirable layout with 4 single story bungalows and a triplex in the back. It has walkway on its right side complete with community garden and covered seating and barbeque area. It offers excellent unit mix with one (1) x 2bed+1bath bungalow, three (3) x 1bed+1bath bungalows, two (2) x 2bed+1bath (back triplex), and one (1) x 1bed+1bath (back triplex). The sale comes with an approved plan for 1 ADU. The master tenant expertly utilizes the diverse layout—consisting of four single-story bungalows and a rear triplex—for offices, meeting spaces, and consultation rooms. The property has benefited from massive capital improvements, allowing a new investor to step into a stabilized, low-maintenance asset immediately. The front bungalow has central HVAC unit, and the other 3 bungalows have mini split HVAC. The back triplex has central HVAC.

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. The 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, the 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.