CA > South Pasadena
South Pasadena, CA 91030,325 -327 1/2 Pasadena AVE
South Pasadena, CA 91030,325 -327 1/2 Pasadena AVE
South Pasadena, CA 91030,325 -327 1/2 Pasadena AVE
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Diego Magdaleno

Diego Magdaleno

+1(714) 681-1222
$1,950,000
Est. payment /mo
5 Beds
5 Baths
3,672 SqFt
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UPDATED:

11/22/2024 04:29 AM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 3,672 sqft

Price per Sqft $531

MLS Listing ID SW24220453

Bedrooms 5

Full Baths 5

HOA Y/N No

Year Built 1930

Lot Size 0.401 Acres

Property Description

Pasadena Avenue presents an exceptional investment opportunity with a diverse mix of units, two of which will be delivered vacant, allowing for immediate rent increases or owner-occupancy options. The property features a total of four units, including a primary house at 327 Pasadena Avenue, a 2-bedroom, 2-bathroom unit spanning 1,535 sq. ft. and currently occupied. The remaining three units include:

A front-facing 1-bedroom, 1-bathroom unit at 325 Pasadena Avenue (737 sq. ft.)
A rear 1-bedroom, 1-bathroom unit at 325 ½ Pasadena Avenue (700 sq. ft.)
A 1-bedroom, 1-bathroom unit at 327 ½ Pasadena Avenue (700 sq. ft.)
This property is competitively priced, with projected rents based on market rates of $2.50 to $3.86 per sq. ft. The four-unit property has a total price of $1,950,000, reflecting a strong investment with potential for rental growth.

When combined with the adjacent duplex, the total asking price for both properties is $3,200,000, offering a unique opportunity for future density development on a 0.56-acre lot with 150 feet of frontage. Given the SPR310000 zoning, there is significant potential for maximizing the unit count through entitlements and higher-density​​‌​​​​‌​​‌‌​‌‌​​​‌‌‌​​‌ development.

Location

State CA

County Los Angeles

Area 658 - So. Pasadena

Zoning SPR310000*

Rooms

Main Level Bedrooms 5

Interior

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Inside

Exterior

Pool None

Community Features Biking, Dog Park, Golf, Park, Sidewalks

View Y/N Yes

View Neighborhood, Trees/Woods

Private Pool No

Building

Lot Description 2-5 Units/Acre

Dwelling Type Quadruplex

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Schools

School District South Pasadena

Others

Senior Community No

Tax ID 5313012003

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Michael Onyemaobi • Revel Real Estate • mikeonyemaobi@gmail.com
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