An Irreplaceable location only 2 properties away from Courthouse and City Hall. A prime 23-unit value-add multifamily investment opportunity located in one of the best areas in Pasadena. Situated in the Civic Center District and several properties away from the Pasadena Courthouse and City Hall, this property offers a SUPERB and unbeatable location, perfect for a savvy investor as a buy and hold asset. With this combination of a high-quality location and excellent unit mix, the property provides younger professional tenants with most of the attractions the City of Pasadena has to offer. Literally within walking distance to shopping, dining, and transportation, this location has a Walk and Bike Score of 88.
The property is a two-story apartment with some upgrades. It was built in 1955 and has a total of 12,780 SF and situated on a ±11,811 SF Lot (Zoning is PSC – CD-MU-G). It is surrounded by a much higher density commercial/apartment building. Unlike other apartments in the area, this property has parking (9 spaces in the back) which provides excellent amenities to young professionals living in the building. It offers an excellent unit mix for this urban area with eight (8) large 1bed+1bath, seven (7) large Studio, four (4) junior Studio, and four (4) Bachelor (no kitchen) units.
Approximately 10 out of 23 units have had upgrades. Some units have new double pane windows, and the upgraded units have new wood flooring and updated plumbing. All units have smooth ceiling and excellent layout. Each unit is separately metered for electricity and gas. Parking is in the back of the lot. There is a total of 9 spaces with 8 are assigned to units, and 1 is rented. There is an additional shared laundry room in the basement for the community, and a master water heater.
Additional Features
- None
- Wall Furnace
- Lawn
- Level with Street
- Lot 10000-19999 Sqft
- Rectangular Lot
- Level
- Near Public Transit
- Value In Land
- Two
- City Lights
- Parking spaces: 9.00
- Listing Status: Active
- Listing Agent: Han Chen
(lic# 01749321)
of Arcadia
- Listing Office: Growth Investment Group Pasade
(lic# 02201380)
- CO-Listing Agent: Robert Renshaw
(lic# 01332831)
of Beverly Hills/Greater LA
- CO-Listing Office: REMAX COMMERCIAL & INVESTMENT REALTY
(lic# 01508014)
-
Based on information from CRISNet MLS as of 29th November 2024 at 6:20pm. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
