148 Mar Vista Avenue
Pasadena, CA 91106
For Sale
7,450 sqft
Sale Price
$4,100,000
Brochure
Property Website
Map
Multifamily For Sale - Available October 2026
5 Condos in Pasadena | All 3B/3B Townhome Style Units
Well-maintained portfolio of five individually-parceled condos in Pasadena, built in 2009, with the ability to sell each unit individually.
Attractive unit mix consisting of one 3-bedroom/3-bathroom and four 3-bedroom/3.5-bathroom two-story, townhouse-style units serving a broad renter demographic with consistent demand throughout Los Angeles County.
Units are large and spacious with an average unit size of 1,496 SF.
Newly built construction with relatively low maintenance, featuring open-concept kitchens, granite countertops, stainless steel appliances, wood-style and tile flooring, and in-unit stackable washers and dryers.
Great opportunity for the next investor to capitalize on 20% rental upside potential.
At $820,000 per unit and approximately $550 per square foot, the property offers an attractive entry point to own prime Pasadena real estate.
Residents enjoy a gated community, courtyard with seating area, mature landscaping, subterranean parking garage, elevator, and ample street parking.
Excellent location a few blocks from Colorado Boulevard and Lake Avenue, near Lake Metro Rail Station on the Metro A Line and within walking distance to Pasadena City College, with direct access to the 210, 134, 110, 2, and 5 Freeways.
Get in touch
Eric Chen
Lic: 01489184
Mikel Dominguez
Lic: 02189109
CBRE, Inc., as exclusive advisor, is pleased to present the unique opportunity to acquire 148 N Mar Vista Avenue, five individually-parceled condos, in the highly coveted city of Pasadena.
Offered at $820,000 per unit, the property delivers a 2.79% current cap rate with a clear path to a 3.68% pro forma cap rate through a captured 20% rental upside. Situated on a meticulously landscaped ±8,682 square foot lot with a total building area of ±7,450 square feet, the property was built in 2009 and offers relatively low maintenance, making it highly attractive to long-term investors and buyers seeking the flexibility to sell each unit individually.
The five-unit asset sits south of Interstate 210 and a few blocks from Colorado Boulevard, offering convenient access to grocery stores, pharmacies, restaurants, and specialty retail, including Target, Apple Store, Vroman’s Bookstore, and Urth Café. Mar Vista Avenue features a unit mix of one 3-bedroom/3-bathroom and four 3-bedroom/3.5-bathroom two-story, townhouse-style residences, with a generous average unit size of ±1,496 square feet.
Built in 2009, the community is meticulously maintained and offers a well-appointed amenity package designed for comfort and convenience. Interior features include open-concept kitchens with stainless steel appliances and granite countertops, in-unit stackable washers and dryers, primary suites with double vanities, and spacious private patios and balconies. The community provides residents with a gated entry, a courtyard with seating area, lush landscaping, a subterranean parking garage, an elevator, two stairwells, and ample street parking.
Pasadena’s resilient economy is anchored by major employers including the California Institute of Technology (Caltech), Jet Propulsion Laboratory (JPL), Huntington Hospital, Pasadena City College, and the Pasadena Unified School District, generating consistent renter demand from scientists, healthcare professionals, educators, and students throughout the submarket.
The property’s location is a significant driver of value, situated within walking distance to Pasadena City College and near Lake Metro Rail Station on the Metro A Line, with direct light rail service to Downtown Los Angeles. Residents are just minutes from the Pasadena Playhouse District, Old Pasadena, The Shops on Lake Avenue, and Paseo Colorado, with easy access to the 210, 134, 110, 2, and 5 Freeways connecting to the San Gabriel Valley, the San Fernando Valley, Ventura County, and beyond. Within 20 miles are the Huntington Library, Rose Bowl, Dodger Stadium, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Bowl, and Universal Studios, offering a unique blend of urban accessibility and recreation.
148 N Mar Vista Avenue is a stable, newly built asset in Pasadena’s high-demand submarket. Whether for a 1031 Exchange buyer, a first-time investor, or a seasoned investor, this offering of five prime condos provides long-term stability and significant growth potential underpinned by strong economic and demographic fundamentals.
Offered at $820,000 per unit, the property delivers a 2.79% current cap rate with a clear path to a 3.68% pro forma cap rate through a captured 20% rental upside. Situated on a meticulously landscaped ±8,682 square foot lot with a total building area of ±7,450 square feet, the property was built in 2009 and offers relatively low maintenance, making it highly attractive to long-term investors and buyers seeking the flexibility to sell each unit individually.
The five-unit asset sits south of Interstate 210 and a few blocks from Colorado Boulevard, offering convenient access to grocery stores, pharmacies, restaurants, and specialty retail, including Target, Apple Store, Vroman’s Bookstore, and Urth Café. Mar Vista Avenue features a unit mix of one 3-bedroom/3-bathroom and four 3-bedroom/3.5-bathroom two-story, townhouse-style residences, with a generous average unit size of ±1,496 square feet.
Built in 2009, the community is meticulously maintained and offers a well-appointed amenity package designed for comfort and convenience. Interior features include open-concept kitchens with stainless steel appliances and granite countertops, in-unit stackable washers and dryers, primary suites with double vanities, and spacious private patios and balconies. The community provides residents with a gated entry, a courtyard with seating area, lush landscaping, a subterranean parking garage, an elevator, two stairwells, and ample street parking.
Pasadena’s resilient economy is anchored by major employers including the California Institute of Technology (Caltech), Jet Propulsion Laboratory (JPL), Huntington Hospital, Pasadena City College, and the Pasadena Unified School District, generating consistent renter demand from scientists, healthcare professionals, educators, and students throughout the submarket.
The property’s location is a significant driver of value, situated within walking distance to Pasadena City College and near Lake Metro Rail Station on the Metro A Line, with direct light rail service to Downtown Los Angeles. Residents are just minutes from the Pasadena Playhouse District, Old Pasadena, The Shops on Lake Avenue, and Paseo Colorado, with easy access to the 210, 134, 110, 2, and 5 Freeways connecting to the San Gabriel Valley, the San Fernando Valley, Ventura County, and beyond. Within 20 miles are the Huntington Library, Rose Bowl, Dodger Stadium, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Bowl, and Universal Studios, offering a unique blend of urban accessibility and recreation.
148 N Mar Vista Avenue is a stable, newly built asset in Pasadena’s high-demand submarket. Whether for a 1031 Exchange buyer, a first-time investor, or a seasoned investor, this offering of five prime condos provides long-term stability and significant growth potential underpinned by strong economic and demographic fundamentals.
Los Angeles County is the nation’s entertainment, manufacturing, and international trade capital. It is home to the nation’s #1 and #2 busiest container ports, the Port of Los Angeles and Port of Long Beach, which together moved more than 20 million containers in 2025. The county also has more than 100 colleges and universities, including Caltech, UCLA, and USC. With more than 9.8 million residents, the most populous county in the nation, this all contributes to annual economic output of more than $1 trillion, nearly 4% of the U.S. total. In 2025, the county added jobs at a modest 0.3% pace according to the Los Angeles County Economic Development Corporation, and unemployment stood at 5.9% in August 2025. Continued port activity and consumer spending are expected to support sales and use tax revenues for local governments.
The Pasadena Playhouse is a Spanish Colonial Revival landmark designed by Pasadena architect Elmer Grey and completed in 1925. Founded by Gilmor Brown in 1917, the Playhouse was named the State Theatre of California in 1937 after performing the entire Shakespeare canon, a first in the country. Its 700-seat main auditorium is known for near perfect acoustics, and its College of Theater Arts, founded in 1928, drew aspiring actors from across the nation. The Playhouse survived a closure in the late 1960s, reopened in 1986 after a restoration, and is now listed on the National Register of Historic Places as California Historical Landmark No. 887. Located in the Pasadena Playhouse District, it anchors a walkable arts and dining corridor just minutes from Old Town Pasadena. It ranks among Los Angeles County’s premier stages, alongside the Hollywood Bowl, the Greek Theatre, and the Music Center in Downtown Los Angeles.
The Rose Bowl is an outdoor stadium in Pasadena, California, home to the UCLA Bruins football team and the Rose Bowl Game, a college football tradition held every year on New Year’s Day following the Tournament of Roses Parade. Opened in 1922, it has hosted five Super Bowls, the 1984 Olympic soccer final, and the 1994 FIFA World Cup, and its 1999 Women’s World Cup final drew 90,185 fans, the largest crowd ever for a women’s sporting event. The stadium will again host Olympic soccer during the 2028 Los Angeles Games. During the summer, it hosts concerts with artists from all over the world.
Old Town Pasadena is the original commercial center of Pasadena and its designated historic district, now one of Southern California’s most popular shopping and entertainment destinations. More than 300 businesses line Colorado Boulevard, Raymond Avenue, and the historic alleys in between, offering upscale restaurants, boutiques, national retailers, and lively nightlife, all within pedestrian-friendly streets that invite visitors to park once and walk for hours. It is also the gateway to Downtown Los Angeles, with the Metro A Line’s Memorial Park and Del Mar stations on the district’s edge.
The Pasadena Playhouse is a Spanish Colonial Revival landmark designed by Pasadena architect Elmer Grey and completed in 1925. Founded by Gilmor Brown in 1917, the Playhouse was named the State Theatre of California in 1937 after performing the entire Shakespeare canon, a first in the country. Its 700-seat main auditorium is known for near perfect acoustics, and its College of Theater Arts, founded in 1928, drew aspiring actors from across the nation. The Playhouse survived a closure in the late 1960s, reopened in 1986 after a restoration, and is now listed on the National Register of Historic Places as California Historical Landmark No. 887. Located in the Pasadena Playhouse District, it anchors a walkable arts and dining corridor just minutes from Old Town Pasadena. It ranks among Los Angeles County’s premier stages, alongside the Hollywood Bowl, the Greek Theatre, and the Music Center in Downtown Los Angeles.
The Rose Bowl is an outdoor stadium in Pasadena, California, home to the UCLA Bruins football team and the Rose Bowl Game, a college football tradition held every year on New Year’s Day following the Tournament of Roses Parade. Opened in 1922, it has hosted five Super Bowls, the 1984 Olympic soccer final, and the 1994 FIFA World Cup, and its 1999 Women’s World Cup final drew 90,185 fans, the largest crowd ever for a women’s sporting event. The stadium will again host Olympic soccer during the 2028 Los Angeles Games. During the summer, it hosts concerts with artists from all over the world.
Old Town Pasadena is the original commercial center of Pasadena and its designated historic district, now one of Southern California’s most popular shopping and entertainment destinations. More than 300 businesses line Colorado Boulevard, Raymond Avenue, and the historic alleys in between, offering upscale restaurants, boutiques, national retailers, and lively nightlife, all within pedestrian-friendly streets that invite visitors to park once and walk for hours. It is also the gateway to Downtown Los Angeles, with the Metro A Line’s Memorial Park and Del Mar stations on the district’s edge.
Total Space Available
7,450 sqft
Sale Price
$4,100,000
Place
Old Pasadena
Retail & Restaurants
1.8 miles
3 min.
/drive
The Shops on Lake Avenue
Retail & Restaurants
0.9 miles
2 min.
/drive
The Paseo
Retail & Restaurants
1 miles
5 min.
/drive
Pasadena City College
College
0.6 miles
2 min.
/drive
Airport
Los Angeles International Airport
29.1 miles
45 min.
/drive
Highway
210 Freeway
0.6 miles
2 min.
/drive
Transit/Subway
Lake Metro Rail Station
0.6 miles
2 min.
/drive
Get in touch
Eric Chen
Lic: 01489184
Mikel Dominguez
Lic: 02189109