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Multifamily

80 Grace Terrace

80 Grace Terrace, Pasadena, CA 91105

Listing Price: Request For Offer

Number of Units
8
Gross SF
9,567

Investment Overview

Marcus & Millichap is proud to present a truly one-of-a-kind opportunity: 80 Grace Terrace, the jewel of Pasadena, located just one block north of the South Pasadena city border. This trophy asset 8-unit apartment building is nestled on a hilltop in a quiet residential neighborhood in the prestigious southwest section of the city. Grace Terrace is just steps away from South Pasadena, S Fair Oaks Ave and has easy access to the 110, 210 & 134 Freeways. Built in 1891, this 9,567 gross-sqft building sits on a large, hilltop lot of 32,521 sqft (0.75 acres) with amazing views. Each unit boasts architecturally impressive apartments in the most serene apartment setting you'll find in Southern California. Each fully renovated 1 Bed / 1 Bath unit is unique in both size and character, ranging from 853 sqft to 1,733 sqft, including high ceilings, hardwood floors, crown moldings and an incredible attention to detail to maintain the classic architecture. Select units include fireplaces and beautiful stained-glass windows. Tenants will enjoy all of the vintage Victorian charm with the modern amenities of 2022. The current ownership spent an estimated $1.4M on capital improvements over the past two years that include but are not limited to: fully renovated kitchens and bathrooms with top-of-the-line appliances, new sewer lines, plumbing throughout, in-unit washer and dryers, electric sub panels, HVAC systems, water heaters, landscaping irrigation system, and much more. The property has plenty of onsite parking for tenants, as well as a three-car garage on the lot which presents an ideal opportunity for an ADU conversion into an estimated 500 square foot unit, which would allow a savvy investor to get this property to a total 9 units quickly and cheaply. Additionally, the buyer can add value and income to the property by leasing out the approximate 3,800 square feet of basement storage space that this property offers. 80 Grace Terrace was originally built in 1891 as a mansion designed by renowned architect Frederick Roehrig, and was converted to seven spacious 1 bed apartment and 1 studio apartment in the 1920’s. Each separately metered unit was given its own exterior entrance, entertainment-sized porch, balcony, or private yard for tenants to enjoy views of the city and San Gabriel mountains. This offering is truly an awe-inspiring, one-of-a-kind, pride-of-ownership opportunity for someone to own one of the most unique and beautiful properties anywhere in Los Angeles county.

Investment Highlights

  • Built in 1891 | Renovated in 2021
  • Prime Pasadena Location
  • Just North of South Pasadena
  • Truly One of a Kind Property
  • Huge Units | 0.75 Acre Lot
  • Hilltop Property with Views

Exclusively Listed By

Financing By

Multifamily

80 Grace Terrace

Listing Price: Request For Offer

Number of Units
8
Gross SF
9,567

Investment Highlights

  • Built in 1891 | Renovated in 2021
  • Prime Pasadena Location
  • Just North of South Pasadena
  • Truly One of a Kind Property
  • Huge Units | 0.75 Acre Lot
  • Hilltop Property with Views

Investment Overview

Marcus & Millichap is proud to present a truly one-of-a-kind opportunity: 80 Grace Terrace, the jewel of Pasadena, located just one block north of the South Pasadena city border. This trophy asset 8-unit apartment building is nestled on a hilltop in a quiet residential neighborhood in the prestigious southwest section of the city. Grace Terrace is just steps away from South Pasadena, S Fair Oaks Ave and has easy access to the 110, 210 & 134 Freeways. Built in 1891, this 9,567 gross-sqft building sits on a large, hilltop lot of 32,521 sqft (0.75 acres) with amazing views. Each unit boasts architecturally impressive apartments in the most serene apartment setting you'll find in Southern California. Each fully renovated 1 Bed / 1 Bath unit is unique in both size and character, ranging from 853 sqft to 1,733 sqft, including high ceilings, hardwood floors, crown moldings and an incredible attention to detail to maintain the classic architecture. Select units include fireplaces and beautiful stained-glass windows. Tenants will enjoy all of the vintage Victorian charm with the modern amenities of 2022. The current ownership spent an estimated $1.4M on capital improvements over the past two years that include but are not limited to: fully renovated kitchens and bathrooms with top-of-the-line appliances, new sewer lines, plumbing throughout, in-unit washer and dryers, electric sub panels, HVAC systems, water heaters, landscaping irrigation system, and much more. The property has plenty of onsite parking for tenants, as well as a three-car garage on the lot which presents an ideal opportunity for an ADU conversion into an estimated 500 square foot unit, which would allow a savvy investor to get this property to a total 9 units quickly and cheaply. Additionally, the buyer can add value and income to the property by leasing out the approximate 3,800 square feet of basement storage space that this property offers. 80 Grace Terrace was originally built in 1891 as a mansion designed by renowned architect Frederick Roehrig, and was converted to seven spacious 1 bed apartment and 1 studio apartment in the 1920’s. Each separately metered unit was given its own exterior entrance, entertainment-sized porch, balcony, or private yard for tenants to enjoy views of the city and San Gabriel mountains. This offering is truly an awe-inspiring, one-of-a-kind, pride-of-ownership opportunity for someone to own one of the most unique and beautiful properties anywhere in Los Angeles county.

Exclusively Listed By

Financing By

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