271 N Holliston Ave
Pasadena, CA 91106
Immeuble residentiel Propriété À vendre · 4 Unités

A Stabilized Pasadena Fourplex With a Clear Path to Upside
Welcome to 271 N Holliston Avenue, a fully occupied multifamily investment, in a highly desirable neighborhood of Pasadena. With each unit individually metered and mechanically sound, the heavy lifting has been done. What remains is the upside — and a clear, low-risk path to get there.
The Investment Case:
Major capital expenditures are already in the rearview. The electrical system was fully upgraded within the past 10 years. Plumbing has been partially updated. The roof was redone in 2009/2010 and is in good standing. Each unit comes equipped with in-unit washer and dryers which is a direct contributor to tenant retention. Tenants pay their own trash service. Two of the four detached garages are currently owner-occupied — transfer to a new buyer as an untapped income line. Lease them out, and you've added revenue that wasn't priced into the acquisition. Selective unit upgrades present an estimated 10–15% rental upside over in-place rents, with no requirement to take on major renovation risk across the entire building at once. Lastly, with an oversized lot, the garage structures may be converted into additional living structures. The longer-term story is equally compelling. The property is zoned RM-32, which permits up to 7 units — meaning a buyer is acquiring not just a stabilized income asset, but a lot with three additional units of entitlement potential. Combined with
California's ADU-friendly regulatory environment, the development optionality here is real and worth underwriting separately.
The Asset:
Built in 1924, the building consists of four one-bedroom, one-bath units averaging approximately 600 square feet each. Interiors feature a mix of hardwood and tile
flooring, wall heaters, and window air conditioning — functional, clean, and familiar to the Pasadena renter. Units vary in renovation level, which means a new owner has selective upgrade flexibility without an all-or-nothing capital commitment.
The Location:
Catalina Villas sits just north of Pasadena's walkable and tree-lined Playhouse District. Caltech, Pasadena City College, and Downtown Pasadena are all within close reach, anchoring a renter base that skews educated, employed, and stable. The Metro Gold Line and the 210 Freeway give commuters real options, which means this location competes well across tenant profiles. The surrounding area builds in the amenities like being steps from coffee shops, restaurants, and boutiques.
The Bottom Line:
271 N Holliston suits the investor who wants a low-maintenance, well-located Pasadena asset with a tangible value-add proposal. In-place income, a garage revenue stream waiting to be activated, and an estimated 10–15% rental upside achievable through cosmetic upgrades and RM-32 zoning that opens the door to three additional units. Pasadena's multifamily inventory stays constrained. Properties like this don't sit.