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Key Details
Sold Price $1,875,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,520 sqft
Price per Sqft $532
MLS Listing ID WS21159927
Sold Date 02/07/22
HOA Y/N No
Year Built 1954
Lot Size 7,518 Sqft
Acres 0.1726
Property Description
Motivated seller, submit your reasonable offer. Excellent investment opportunity in the heart of Pasadena, a two story apartment with total eight units, all one bedroom and one bathroom. Cap rate is 5.26% and gross multiplier is 14.26. Great cash flow. Each unit is around 440 Sqft, smaller than regular one bedroom apartment but it has a high rental demand. Purchase price is less than $250K per unit. Four carports plus four parking spaces. Individual hot water boilers, all changed within 5 years. All units have individual electrical and gas meters, updated kitchen countertops and cabinets, updated bathtubs and toilets, copper plumbing; well-maintained included the roof, deck, and stairway. On-site laundry, washers and dryers owned by seller to generate an extra income. Located in a nice neighborhood, close to Freeway 210. Very convenient to either daily life or various entertaining activities with Pasadena’s dynamic SoCal lifestyle. Such an attractive real estate to own! Drive by only, please don’t disturb tenants, offer subject to interior inspection. Contact listing broker for offering memorandum.
Location
State CA
County Los Angeles
Area 646 - Pasadena (Ne)
Zoning PSR1
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Garage Carport, Driveway, One Space
Carport Spaces 4
Pool None
Community Features Sidewalks
Parking Type Carport, Driveway, One Space
Total Parking Spaces 8
Private Pool No
Building
Lot Description Front Yard
Story Two
Entry Level Two
Sewer Unknown
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5745001025
Energy Description 180.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Other
Special Listing Condition Standard
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