Value-Add Apartment Deal in South Pasadena Trades

The 32-unit property is 80% renovated, leaving some upside for the private local buyer.

A dissolving partnership has sold a value-add apartment property in South Pasadena for $11 million to a local private buyer. The 32-unit property is 80% renovated, leaving some upside for the buyer.

The 24,616-square foot property is located at 635 Prospect Avenue, and features a mix of one- and two-bedroom units. The building is in a non-rent-controlled location and is walking distance to the Gold Line, Mission St, Fremont Ave, and Fair Oaks Ave.

Priscilla Nee of CBRE represented the private seller and the buyer in the deal.

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