investment highlights
- RARE OPPORTUNITY // Unique chance to acquire South Pasadena’s only self storage facility. The property boasts an exceptional track record of 16.32 percent average rental income growth over the past five years with sustained momentum in 2023.
- EXCELLENT LOCATION // Situated directly on South Pasadena’s famed Mission Street with car counts exceeding 8,600 vehicles per day as well as a heavily foot-trafficked corridor with a mass transit rail stop (Gold L Line) steps from the property. “Main” street location with an eclectic mix of multi- and single-family homes, local restaurants, and shops as well as upscale national grocers such as Trader Joe’s all within a few blocks of the subject.
- EXCEPTIONAL STORAGE FUNDAMENTALS // Favorable three-mile square foot per capita of just 3.26 with much of the competition located on the north side of I-110 highway in an industrial corridor. Average occupancy across the competitive set averages 95 percent+.
- HIGH BARRIERS TO ENTRY // Currently the only storage facility located in South Pasadena insulated from the threat of new supply due to the scarcity of buildable land, zoning restrictions, and a storage moratorium in the city of South Pasadena.
- STRONG THREE MILE DEMOS // Dense infill trade area with over 250k people and 96K household with average incomes exceeding $124K per year.
