Request Offering Memorandum

149 S Los Robles Avenue

Pasadena, CA. 91101

THE STANLEY 

94 WALK SCORE IN PASADENA

Call us! 626.204.3300

ABOUT THE ASSET

The Stanley is located at 149 South Los Robles in Pasadena. This 1920’s Reinforced Brick Building consists of 14 studio units with no kitchens, 8 studio units with kitchens and 17 one bedroom one / bathroom units. There are also four non-conforming units which include a penthouse unit and 3 basement units, one of which is currently being used as a hair salon.

The nostalgic character of The Stanley comes from its previous use as The Stanley Hotel and still has the lobby and front desk still intact even after its conversion to apartments. Most units have original wood flooring except some have been replaced with laminate. All units have radiator heating which is heated by the boiler in the basement. All units that have a refrigerator or stove are provided by the landlord while AC is provided by the tenant. The gas and electricity are master-metered. The subject
property offers street parking with many tenants choosing to lease from neighboring public parking structures, a common area laundry room in the basement with 2 washers and 2 dryers leased from WASH and a vintage elevator. The property also offers gated entry, a basement with 30 storage units each measuring approximately 6 ft x6 ft currently being used by the landlord. The property has some breakers and some fuses, 
original galvanized plumbing with some copper replacements as needed and has a possible option to convert non-confirming unit to an ADU. Buyer to verify.

The Stanley is located across the street from the Hilton Hotel and the brand new, state of the art, Kaiser Permanente Bernard J. Tyson School of Medicine. Less then two blocks away is Colorado Boulevard’s The Paseo shopping mall to the north and less then 1 mile from the 210 and 710 freeways offering easy access to Downtown Los Angeles, South Pasadena and Arcadia. Pasadena offers many restaurants, café’s and shops as well as renowned museums and the Annual Rose Parade.
SUMMARY
PRICE
PRICE/UNIT
PRICE/SF
GRM
CAP
UNITS
YEAR BUILT
GROSS SF
LOT SF
APN
$9,250,000
$237,179
$325.19
13.40
3.85%
39 + 4 NC
1925
28,445
13,672
5722-030-008

1920’s Reinforced Brick Construction with Old World Charm

© 2016 Bridge Investment Group of KW Commercial

251 S. Lake Avenue, Suite 320

Pasadena, CA 91101

DRE #01444805