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$11,800,000
Est. payment /mo
9,029 Sqft Lot
UPDATED:
12/05/2024 12:46 AM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS23214697
HOA Y/N No
Year Built 2002
Annual Tax Amount $147,200
Lot Size 9,029 Sqft
Property Description
18-Unit apartment complex with 1 Commercial Space with approximately 2,900 sf of rentable space. Motivated SELLER!!! Note on property is ASSUMABLE WITH A RATE OF 3.75% UNTIL 10/2026 or SELLER IS WILLING TO FINANCE THE DEAL WITH VERY REASONABLE RATE AND TERMS (CONTACT AGENT FOR MORE INFORMATION), contact agent for terms. Located in the heart of Old Town Pasadena this complex is just a few steps away from local eateries and bars, and also shops. The property was built in 2002 and shows pride of ownership with a well-maintained building and units. All units are approximately 900 sf is size and are all 2 bedrooms and 2 bathrooms and come with their own laundry units. There are a total of 29 surface and subterranean parking with 2 handicapped spaces. Situated in the heart of Old Town Pasadena, with a lot of 9,028 square feet. The property is located just 11.3 miles from Downtown Los Angeles and within 2 miles of three top major colleges Art Center College of Design, California Institute of Technology, and Pasadena City College. The property is also located 0.3 miles from the Parsons Corporation and 0.5 miles to Pasadena City Hall and approximately 4.6 miles to JPL. Across the street are Pasadena Memorial Park and the Memorial Park Metro Gold Line Station making an easy commute for those working in Downtown Los Angeles. Offered at a 3.90% Pro-Forma CAP rate and 15.52 Pro-Forma GRM, there is upside potential with below-market rents. These units are easy to rent due to their prime location and well-kept units. The property has very stable and long-term tenants in place.
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Interior
Fireplace No
Laundry Inside
Exterior
Community Features Park
Building
Lot Description Near Park, Walkstreet
Story 4
Water Private
Others
Tax ID 5723021017
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
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Listed by KEVIN KWAN • REALIV • 626-272-2365