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2886-2888 E Walnut St 16,245 SF Industrial Building Pasadena, CA 91107 $8,242,166 CAD ($507.37 CAD/SF) 7.48% Cap Rate
Investment Highlights
- CURRENT CAP IS 5.55% -Proforma Cap Rate in 90 days is +/- 7.48 %, $534,000 Gross Income-Strong Actual Income Property with lots of Value Add & Upside
- Potential to convert property into 12 Commercial Condo Work/Live Units - Draft Plans Created - Additional Upside
- Discount given to for Quick Close Cash Deals - Amazing Opportunity in Pasadena - ADJACENT TO BRAND NEW RUSNAK 61K SQFT PORSCHE DEALERSHIP
- 3 Industrial Buildings on 2 Legal Parcels with 14 Work/Live Commercial Condo's - Allows for a Multitude of Uses
- Prime Pasadena Location Across from Home Depot & Rusnak Dealership & short drive away from the Rosebowl, JPL, Pasadena College, 210/110/134 Freeway
- Prime opportunity for savvy cash flow investors, 1031 exchange buyers, and owner-users seeking strong returns and multiple exit strategies.
Executive Summary
THIS IS AN AMAZING DEAL AND WILL GO FAST!!! CURRENT CAP RATE OF 5.55% --PROFORMA CAP IN 3 MONTHS POST CLOSING CAN BE AROUND 7.48% IF YOU BRING RENTS TO MARKET!!! YOU WILL NOT FIND A BETTER DEAL IN TOWN. ADJACENT TO BRAND NEW RUSNAK 61,000 SQFT PORSCHE DEALERSHIP.
WE WOULD LOVE A QUICK QUICK CLOSE DEAL AND ARE READY TO MAKE A DEAL!!! - IF YOU CAN CLOSE QUICKLY, WE WILL WORK WITH YOU ON PRICE AND RAISE THE ACTUAL CAP CLOSER TO 6% AND PROFORMA CAP RATE CLOSER TO 8%.
Rare Pasadena Investment with Strong Income + Value-Add Play - PERFECT 1031 EXCHANGE WITH ACTUAL STRONG INCOME!!! CAN BE CONVERTED TO 12 INDIVIDUAL COMMERCIAL WORK/LIVE CONDOS AND SOLD OFF INDIVIDUALLY - TENTATIVE PLANS ALREADY DRAWN! SELLER IS MOTIVATED TO MAKE SOMETHING HAPPEN - NEW LISTING - FULL PHOTO SHOT AND MARKETING PACKAGE WILL BE AVAILABLE IN APRIL 2026 BUT SHOWINGS WILL START NOW!!!
SELLER IS MOTIVATED AND WILL WORK HARD TO MAKE A DEAL HAPPEN!!!
Great Cash Flow Today with Amazing Future Upside and Rental Income . This versatile Pasadena asset is a prime opportunity for savvy cash flow investors, 1031 exchange buyers, and owner-users seeking strong returns and multiple exit strategies.
Currently generating +/-$433,000 in gross annual income with a path to $534,000+ in Proforma Gross Income, this property provides immediate yield with a proven trajectory to over 7.48% Cap Rate or higher within 90 days of closing. The current Cap Rate is +/-5.55%, creating a clear path for short-term income growth.
Property Features:
12 legal commercial work/live units, fully approved for both residential and commercial use
3 Industrial Buildings totaling 16,250+ sq ft (inclusive of mezzanines, common areas & storage)
Two legal parcels totaling approx. 15,578 sq ft of land
All tenants on month-to-month or expiring leases within 12 months – ready for repositioning
Flexible zoning supports a wide range of uses and creative tenant mixes
Draft condo conversion plans ready – option to split into 12 work/live condo units for resale
Fully rebuilt in the early 1990s, remodeled again in the early 2000s to its modern creative use
Formerly home to Occidental College’s art school – well-maintained and thoughtfully reimagined
Owner-user potential with upside through lease-up, repositioning, or strategic unit sales
This is not just a building—it’s a strategic asset offering multiple income streams, value-add options, and long-term scalability. Perfectly positioned for investors seeking flexibility and return in one of Pasadena’s most desirable and supply-constrained markets. Whether you’re looking to cash flow from Day 1 or scale into a higher valuation over time, this is your chance to own a Pasadena property that checks all the boxes.
Whether you're building long-term passive income, looking to reposition and increase NOI, or exploring profitable exit strategies through condo resale or tenant repositioning, this property delivers multiple income streams and scalability in a high-demand Pasadena location. It is also perfect for an Owner-User. Opportunities like this—offering immediate income with built-in value-add potential—rarely hit the market in Pasadena.
WE WOULD LOVE A QUICK QUICK CLOSE DEAL AND ARE READY TO MAKE A DEAL!!! - IF YOU CAN CLOSE QUICKLY, WE WILL WORK WITH YOU ON PRICE AND RAISE THE ACTUAL CAP CLOSER TO 6% AND PROFORMA CAP RATE CLOSER TO 8%.
Rare Pasadena Investment with Strong Income + Value-Add Play - PERFECT 1031 EXCHANGE WITH ACTUAL STRONG INCOME!!! CAN BE CONVERTED TO 12 INDIVIDUAL COMMERCIAL WORK/LIVE CONDOS AND SOLD OFF INDIVIDUALLY - TENTATIVE PLANS ALREADY DRAWN! SELLER IS MOTIVATED TO MAKE SOMETHING HAPPEN - NEW LISTING - FULL PHOTO SHOT AND MARKETING PACKAGE WILL BE AVAILABLE IN APRIL 2026 BUT SHOWINGS WILL START NOW!!!
SELLER IS MOTIVATED AND WILL WORK HARD TO MAKE A DEAL HAPPEN!!!
Great Cash Flow Today with Amazing Future Upside and Rental Income . This versatile Pasadena asset is a prime opportunity for savvy cash flow investors, 1031 exchange buyers, and owner-users seeking strong returns and multiple exit strategies.
Currently generating +/-$433,000 in gross annual income with a path to $534,000+ in Proforma Gross Income, this property provides immediate yield with a proven trajectory to over 7.48% Cap Rate or higher within 90 days of closing. The current Cap Rate is +/-5.55%, creating a clear path for short-term income growth.
Property Features:
12 legal commercial work/live units, fully approved for both residential and commercial use
3 Industrial Buildings totaling 16,250+ sq ft (inclusive of mezzanines, common areas & storage)
Two legal parcels totaling approx. 15,578 sq ft of land
All tenants on month-to-month or expiring leases within 12 months – ready for repositioning
Flexible zoning supports a wide range of uses and creative tenant mixes
Draft condo conversion plans ready – option to split into 12 work/live condo units for resale
Fully rebuilt in the early 1990s, remodeled again in the early 2000s to its modern creative use
Formerly home to Occidental College’s art school – well-maintained and thoughtfully reimagined
Owner-user potential with upside through lease-up, repositioning, or strategic unit sales
This is not just a building—it’s a strategic asset offering multiple income streams, value-add options, and long-term scalability. Perfectly positioned for investors seeking flexibility and return in one of Pasadena’s most desirable and supply-constrained markets. Whether you’re looking to cash flow from Day 1 or scale into a higher valuation over time, this is your chance to own a Pasadena property that checks all the boxes.
Whether you're building long-term passive income, looking to reposition and increase NOI, or exploring profitable exit strategies through condo resale or tenant repositioning, this property delivers multiple income streams and scalability in a high-demand Pasadena location. It is also perfect for an Owner-User. Opportunities like this—offering immediate income with built-in value-add potential—rarely hit the market in Pasadena.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$733,591
|
$45.16
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$733,591
|
$45.16
|
| Taxes |
$90,837
|
$5.59
|
| Operating Expenses |
$21,980
|
$1.35
|
| Total Expenses |
$112,817
|
$6.94
|
| Net Operating Income |
$620,774
|
$38.21
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $733,591 |
| Annual Per SF | $45.16 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $733,591 |
| Annual Per SF | $45.16 |
| Taxes (CAD) | |
|---|---|
| Annual | $90,837 |
| Annual Per SF | $5.59 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $21,980 |
| Annual Per SF | $1.35 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $112,817 |
| Annual Per SF | $6.94 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $620,774 |
| Annual Per SF | $38.21 |
Property Facts
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Total Assessment | $1,973,004 CAD (2025) | |
| Land Assessment | $1,323,013 CAD (2025) | Annual Taxes | $90,837 CAD ($5.59 CAD/SF) |
| Improvements Assessment | $649,991 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$1,323,013 CAD (2025)
Improvements Assessment
$649,991 CAD (2025)
Total Assessment
$1,973,004 CAD (2025)
Annual Taxes
$90,837 CAD ($5.59 CAD/SF)
Tax Year
2026
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Presented by
The Provenio Group, Inc.
2886-2888 E Walnut St
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