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Key Details
Sold Price $3,000,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 5,584 sqft
Price per Sqft $537
MLS Listing ID P1-6778
Sold Date 12/14/21
HOA Y/N No
Year Built 1923
Lot Size 0.550 Acres
Acres 0.55
Property Description
We are pleased to present the Cypress Court, an eight (8) unit bungalow court style housing complex located at 623 & 641 N. Madison Avenue in Pasadena, CA. Built in 1923 and 1928, respectively, the court consists of a total of eight (8) homes consisting of two (2) 1 bed/1 bath home and six (6) 2 bed/1 bath homes. Each of the bungalows is uniquely designed in the Colonial Revival style, featuring gable roofs and gabled porches supported by columns. Units are situated spaciously apart from one another providing ample outdoor space for each bungalow. Each bungalow features wood floors, fireplaces, individual water heaters and washer/dryer hookups.The homes total 5,584 of building square footage and sit over three (3) parcels of land totaling a sprawling 0.55 acres, which is PSR1 zoned. Built by contractor Arthur G. Gehrig, Cypress Court was added to the National Register of Historic Places on July 11, 1983. Cypress Court is a value-add opportunity in which new ownership has an opportunity to increase rents by virtue of implementing a renovation program to the unit interiors and exteriors. Current rents are approximately thirty-five percent (35%) below market.
Location
State CA
County Los Angeles
Zoning PSR1
Interior
Cooling Wall/Window Unit(s)
Fireplace Yes
Exterior
Garage Spaces 5.0
Garage Description 5.0
Fence Privacy
Pool None
Community Features Sidewalks
View Y/N No
View None
Total Parking Spaces 3
Private Pool No
Building
Lot Description Sprinklers None
Sewer Public Sewer
Water Public
Others
Senior Community No
Tax ID 5731005049
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash
Special Listing Condition Trust
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Bought with Xiao Cash Li • Heyday Investments Inc
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