Active

819 Wright Avenue

Pasadena, CA 91104
Mark as Favorite
Bed 44

Bed

Bath 44

Bath

SqFt22,784

Sqft

SqFt35,263

Sqft(Lot)

Rare opportunity to acquire the Wright Avenue Apartments, a 44-unit (43 + 1 non-conforming 2+2) gated multifamily community in Pasadena's desirable Olive Heights / North Central neighborhood. Built in 1971 on an expansive 35,252 SF lot, the property spans approximately 22,784 SF with a functional mix of 33 one-bedroom units, 10 studios, and one non-conforming two-bedroom/two-bath. Residents enjoy controlled-access entry, gated covered parking, on-site laundry, bicycle storage, and a tranquil courtyard featuring a koi pond and tree-shaded seating, while select units feature updated kitchens and interiors. The offering presents extraordinary value-add potential: current rents average $1,486/unit against $2,215 at market a massive 69% upside as units turn to market rents plus an additional pa th to 59% upside through possible ADU development of the rear parking area into 8 two-bedroom ADUs (buyer to verify). At $220,000 per unit and $425/SF, the property trades at a 5.61% current cap rate with market fundamentals supporting 9.47%. The location is exceptional: Very Walkable (Walk Score 86), a 15-minute walk to the Metro A Line Lake Station, and minutes to Old Pasadena's dining and retail, the Rose Bowl, and South Lake Avenue. Anchored by world-class employers including Caltech, NASA's Jet Propulsion Laboratory, Huntington Hospital, and Kaiser Permanente in a zip code with a $105,958 median household income and $1.6M median home price 819 Wright Avenue offers investors scale, stable in-place income, and one of the deepest rent-growth stories in the Pasadena submarket.

Read More Expand
Tour with a ByOwner Agent

Detail Ic Property Details

Property Type : ResidentialIncome

Price : $9,680,000

AD Id : 91390509

MLS Id : 26990875

Beds : 44

Lot Size : 35,263 Sq. Ft

Living Area Size : 22,784 Sq. Ft

Year Built : 1971

County : Los Angeles

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Bedroom Information

    Total beds: 44

    Bathroom Information

    Total Baths: 44
  • Interior Features

    Appliances: Dishwasher
    Laundry Features: CommonArea
  • Heating & Cooling

    Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: CentralAir

  • Building Information

    Year Built: 1971
    Building Area Total: 22784
    Private Pool: No

  • Lot Information

    Lot Dimensions: 150x235 Main Square Feet: 35263 Lot Size Acres: 0.8095 Lot Size Square Feet: 35,263

  • Listing Price Information

    Listing Price: $9680000

  • Tax Information

    Parcel Number: 5731009069

  • Location Information

    Direction: North of Orange Grove, just West of N Lake Ave Security Features: FireDetectionSystem,SecurityGate,GatedCommunity,KeyCardEntry,SmokeDetectors
Sell a home like this and save $580,301 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Images
Loading, please wait...

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1539 N Roosevelt, Pasadena, CA, 91104 $1,898,000 4 4 2,804 7,077 Sq. Ft
2417 E Dudley Street, Pasadena, CA, 91104 $1,300,000 4 2 1,653 8,134 Sq. Ft
2187 Garfias Drive, Pasadena, CA, 91104 $1,675,000 4 3 1,920 8,000 Sq. Ft
2384 E Orange Grove Bou.., Pasadena, CA, 91104 $2,995,000 4 4 2,851 14,291 Sq. Ft
2344 Paloma Street, Pasadena, CA, 91104 $1,850,000 4 3 1,957 7,083 Sq. Ft
2209 Queensberry, Pasadena, CA, 91104 $1,399,900 4 3 1,415 8,368 Sq. Ft
2064 Galbreth Road, Pasadena, CA, 91104 $1,638,000 3 3 2,238 7,507 Sq. Ft
2024 Beverly, Pasadena, CA, 91104 $1,275,000 3 2 1,321 5,934 Sq. Ft
1976 Garfias Drive, Pasadena, CA, 91104 $1,375,000 3 2 1,470 7,157 Sq. Ft
2002 E Woodlyn Road, Pasadena, CA, 91104 $1,795,000 4 3 1,924 8,367 Sq. Ft

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/30/2026 @ 21:26

MLS: 26990875 LISTED BY: Jacob Plewa, REMAX COMMERCIAL & INVESTMENT REALTY 310-802-2500 SOURCE: CRMLS

Homes around $9,680,000

Selling? Save $580,301 when you sell a home like this

Tour with a ByOwner Agent