Buena Vista Apartments
92 apartment units | pasadena, California
Rare opportunity for high-quality apartment acquisition
• High barrier-to-entry, urban and residential neighborhood
• Transit-oriented location three blocks from Del Mar Metro Station
• Easy walk to Old Town Pasadena and Playhouse District
• Close to employment and retail in South Lake Avenue District
• Nearly $1 million capital improvements last 12 months
• Spacious floorplans and quality community amenities
• Over 35,000 college students within two miles
Jones Lang LaSalle is exclusive agent for the sale of in Summer 2009. One Colorado offers top-quality office space above
street level retail that is filled with architectural firms, production
Buena Vista Apartments situated in the heart of urban houses, communications companies and other creative industries. One
Colorado’s imaginative cultural programming of outdoor film festivals,
Pasadena. Residents at Buena Vista Apartments enjoy live concerts, site-specific art installations and community gatherings
make it a pioneer in public space creation.
a superb location walkable to Old Town Pasadena, the
Playhouse District, South Lake Avenue and shopping Playhouse District
Anchored by the Pasadena Playhouse, the district features an eclectic
at One Colorado and Paseo Colorado. Downtown
mix of bookstores, antique and specialty shops, restaurants and historic
Los Angeles, Hollywood, Glendale, Studio City, and architecture. The district is an easy walk from Buena Vista Apartments
and features numerous shopping and dining opportunities. Acclaimed
Burbank are easily accessible from Pasadena. The for its theatres, galleries, bookshops and home furnishing showrooms,
the Playhouse District is also home to the Pacific Asia Museum and
Del Mar Gold Line station is less than three blocks the Pasadena Museum of California Art, two of Pasadena’s premier
from Buena Vista Apartments, providing quick access
The District also provides a bevy of evening entertainment options
to the MetroRail’s Union Station in Downtown and with outdoor music, fine dining and an array of live theater venues to
choose from including, the Pasadena Playhouse State Theatre (at the
connections throughout Los Angeles County.
District’s center since 1925), the Boston Court Performing Arts Center,
the Furious Theatre Company, and the Ice House Comedy Club. Movie
goers can also enjoy indie films at Laemmle’s or at the Academy.
the neighborhood Paseo Colorado
Paseo Colorado is an open-air urban retail and restaurant center
situated very close to Buena Vista Apartments on the edge of the
Old Pasadena, referred to as Old Town, is a historic 22-block area, just a Playhouse District. The mixed-use center is anchored by Macy’s and
short walk from Buena Vista. The popular neighborhood offers more than Gelson’s supermarket, and offers several retailers such as Ann Taylor,
120 specialty shops, retail stores and boutiques, 80 restaurants and a Brookstone, Coach, Cole Hahn, Sephora, and Tommy Bahama.
myriad of entertainment opportunities. Old Town is pedestrian-friendly
with a thriving nightlife. The district generates a high level of patronage
throughout the week and offers luxury couture, eclectic restaurants and South Lake Avenue District
entertainment, all combined with the old time feel of Main Street. The South Lake Avenue District is a primarily commercial and business
district’s historic architecture, alleys and outdoor restaurants make it district that extends for ten blocks North and South of Colorado
one of the most pleasant city experiences in the Los Angeles region. Boulevard. South Lake Avenue encompasses over 700 business
operations, numerous restaurants, over two million square feet of office
Shopping at One Colorado 210
space and plenty of retail as well. Located within the South Lake Avenue
Situated on one city block in the heart of Old Town, One Colorado Mountain
Rose District is one of Pasadena’s newest developments, The Shops on Lake,
is a popular lifestyle center that spurred the redevelopment of Old
a 450,000 square foot, Macy’s anchored retail center that includes The
Pasadena. Some high caliber retailers and restaurants in One Colorado Ave.
Children’s Place, Jos. A Bank, Coldwater Creek and Trader Joe’s.
include Crate & Barrel, J. Crew, Armani A/X, The Gap, Il Fornaio and
Orange Grove Ave.
Sushi Roku. In addition, Gold Class Cinemas will be opening a multiplex
Metro Gold Allen
Park CIVIC Theological
Station Seminary PLAYHOUSE
PASADENA Paseo St.
Colorado Green Pasadena
134 Park Del Mar SOUTH Blvd.
Del Mar LAKE
Arroyo California St.
Buena Vista Pasqual
Park Institute of
fae and Ave.
l Union Station Art Center The
College of Design Huntington Library,
(South Campus) Art Collections &
area overview • Pasadena’s dedication to casual and fine dining is famous throughout
the Southland. Known for its sidewalk cafés and gourmet restaurants,
Pasadena is home to over 500 dining establishments including
Pasadena, Burbank and Glendale comprise the “Tri-Cities” area— Ruth’s Chris, Il Fornaio, Bistro 45, Parkway Grill, Sushi Roku, and
a major commercial center of Greater Los Angeles with significant many quaint, boutique eateries with eclectic menus created by up
media/entertainment, financial services, business services and high and coming chefs.
• Just three blocks from Buena Vista, the Metro Gold Line spans
• Pasadena is less than 10 minutes from Glendale, and twenty minutes 13.7 miles linking Union Station in Downtown Los Angeles to Sierra
from Burbank, Studio City and Universal City. Glendale, Burbank and Madre Villa in East Pasadena. Phase II of the Gold Line will run from
Universal City are home to the highest concentration of studios Pasadena to Claremont beginning in 2013, stopping in 10 cities.
including Disney Studios, Warner Brothers Studios, Universal Studios,
NBC Studios, ABC Studios and DreamWorks. Pasadena is an easy • Downtown Los Angeles, and its nearly 500,000 jobs, is located
drive to the Bob Hope Airport in Burbank, a great alternative to LAX. less than 10 miles to the Southwest of Pasadena, a short commute
whether by the Metro Gold Line or 110 Freeway. The proximity to
• The City of Pasadena alone is a significant municipality boasting Downtown Los Angeles has made Pasadena a favored bedroom
over 7 million square feet of office space. community.
• There are four schools of higher education situated within a short
walk or drive of Buena Vista Apartments:
• Located only 1.2 miles from the Buena Vista Apartments,
• There are approximately 440,000 people living in the Tri-Cities area
California Institute of Technology (CalTech), one of California’s
which includes Pasadena, Burbank and Glendale.
premier research institutions has over 6,000 students,
teachers and research and development employees. • The average household income in Pasadena is estimated to be
$87,118, well above the national average of $69,376.
• Pasadena City College is less than two miles from Buena Vista
Apartments and has 29,000 students. • The average household income in the Pasadena area is projected to
increase nearly 11% the next five years to $96,334.
• The Fuller Theological School is approximately one mile from
Buena Vista Apartments and has 5,000 students.
• The California School of Culinary Arts is located in the Playhouse Apartment Market
District and for sometime now has maintained corporate lease The overall Pasadena apartment market remains extremely resilient
units at Buena Vista for its students. and continues to outperform most of the metro Los Angeles area.
• Approximately 10% of residents at Buena Vista are students • Vintage product in Pasadena, built prior to 1990, remains the
including students enrolled at USC’s medical school. strongest sector reporting less than 3.5% vacancy through the first
quarter according to REIS.
• Pasadena is known as one of the most “green” cities in California.
• The primary comparable properties for Buena Vista Apartments all
The city has 23 parks, totaling more than one thousand acres of
currently report occupancy in the mid to high 90% range.
parkland, and over 60,000 trees line the streets.
• There are virtually no concessions in Pasadena for older, vintage
• Pasadena has long been known as a major center for arts and
apartment properties with the area’s strongest leasing season
culture in Southern California and offers Los Angeles County’s most
extensive list of cultural venues including the Norton Simon Museum,
the historic Pasadena Playhouse, the Pasadena Civic Auditorium, the • The pipeline for new rental product close to Buena Vista is minimal
Huntington Library and the Wrigley Mansion, also known as the home over the next three years.
of the Tournament of Roses Association.
Buena Vista Apartments is a privately owned apartment community located in a quaint, tree-
lined neighborhood where residents can easily walk to nearby retail, restaurants, markets and
the Gold Line rail. Buena Vista is comprised of three residential floors over one parking level.
Built: 1973 Parking: 93 spaces
Renovated: 2008 Parking Density: 1.01 space per unit
Floors: 1 Parking Level Acreage: 1.33 acres
3 Residential Levels
Density: 69.17 units per acre
The property offers residents an accommodating mix of spacious apartments.
Unit Type No of Units Unit Mix Unit SF Total SF
1 BR 1 BA 24 26% 670 16,080
1 BR 1 BA 27 29% 730 19,710
2 BR 2 BA 16 17% 917 14,672
2 BR 2 BA 13 14% 941 12,233
2 BR 2 BA 6 7% 953 5,718
3 BR 2 BA 6 7% 1,086 6.516
TOTAL/AVeRAge 92 814 74,929
• Large, resort style swimming pool with spacious sundeck area
• Gazebo, barbeques and canopied lounge areas in addition to the pool area
• Spacious clubhouse with kitchen, living room, big screen TV, pool table and foosball
• Fitness center with cardio and weight equipment
• Six laundry facilities spread throughout the property
• Secured access building and parking garage with additional storage bins
• Well appointed kitchens with refrigerators, range/oven, dishwasher
• Large kitchens provide plenty of cabinet space plus large pantries
• Bathrooms feature vinyl flooring, large tubs, and mirrored vanities
• Spacious patios and balconies
• Large closets and ceiling fans in all units
Recent Capital Improvements FoR moRe inFoRmAtion, contAct:
• New gates, drainage system and subpump for garage
• New HVAC systems in all units Alex Quintana
• Replaced heater, pump and filter for pool system Managing Director
• Approximately $1 million total improvements over the last 12 months
Potential Value-add Upgrades Javier Rivera
• Addition of outside spa or jacuzzi Vice President
• Ample space for putting green and ping pong table
• Units are ripe for a variety of interior repositioning strategies
2049 Century Park East, Suite 2750
Los Angeles, CA 90067
main (310) 595-3660
fax (310) 595-3659