Request Offering Memorandum

1722, 1724, 1728 Meridian Avenue
South Pasadena, CA. 91030

Meridian Terrace Apartments
TROPHY PROPERTY IN SOUTH PASADENA

Call us! 626.204.3300

ABOUT THE ASSET

SUMMARY
Meridian Terrace Apartments is a one-of-a-kind, sixteen-unit,
trophy multifamily investment property located in prime South
Pasadena with award winning schools and is comprised of one
three bedroom, two bathroom single family residence; a
thirteen-unit apartment complex consisting of twelve, two
bedroom, one bathroom units and one, three bedroom, two
bath custom penthouse apartment; and finally one duplex with
two, two bedroomone bathroomapartment units.


1722 Meridian Avenue - Single family residence (3 x 2) has been
completely renovated from floor to ceiling with custom recessed lighting, quartz kitchen/bathroom counters, gas living room fireplace, central air/heat, new stainless steel appliances, including gas washer and dryer hookups. There is an outside patio and rear yard. Building also has a pitched composition shingled roof.


1724 Meridian Avenue - This three-story, wood frame, multifamily apartment building was custom built by the original owner with style and comfort in mind. Approximately seven of the two-bedroom, one bath units have been upgraded. Units 1724 A, B, C, and E have large yards. Each additional unit has either a patio, balcony or both. Tenants also benefit from a common area laundry room. The custom penthouse apartment boasts spectacular views from its two large patio decks. This luxurious 2,000 plus square foot penthouse has a private elevator and has been renovated with custom flooring, lighting, gas living room/dining room fireplace, kitchen/bath quartz counters, stainless steel appliances including gas washer and dryer hookups. Building also has a slightly pitched, rolled composition shingled roof. 

1728-1730 Meridian Avenue - This charming one-story over garages, wood frame duplex has also been renovated with a gas living room fireplace in each of the units. There are original wood floors and gas washer and dryer hookups. Each unit has a one car garage and one additional open parking space in the front driveway. There is also a shared, well-groomed front yard. Building also has a pitched composition shingled roof.
PRICE
CAP
GRM

Units
YEAR BUILT
GROSS SF
LOT SF
APN
$6,250,000
3.33%
17.53

16
1955, 1961, 1938
15,908
33,522
5319-033-025, 024, 026

Trophy Property in prime South Pasadena

© 2016 Bridge Investment Group of KW Commercial

251 S. Lake Avenue, Suite 320

Pasadena, CA 91101

DRE #01444805