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PRIME INVESTMENT/DEVELOPMENT OPPORTUNITY - GREAT 1031 EXCHANGE. This triplex offers a rare opportunity for investors and developers seeking value-add potential with immediate cash flow. Situated in a rapidly appreciating neighborhood near Old Town Pasadena, Pasadena City College, and major transit lines, this property promises both convenience and long-term growth. The 9,199 SF lot is zoned PSR6, offering redevelopment or expansion possibilities. The triplex consists of two buildings with a total of 7 bedrooms and 4 bathrooms across 2,927 SF of living space. The front unit features 3 bedrooms and 2 baths + family room, while the rear building holds two 2-bedroom, 1-bath units. The property has been well-maintained. Each unit offers unique features that attract quality tenants. Pasadena's strong rental demand, especially in areas close to major employment hubs like Caltech, PCC, and the ArtCenter College of Design, makes this an ideal income-generating asset. With vacancy rates consistently low, this triplex is poised to provide stable, immediate rental income. Additionally, the 9,199 SF rectangular lot offers future development potential for investors looking to capitalize on Pasadena's long-term appreciation. Take advantage of the area's robust rental market and redevelopment potential, perfect for a 1031 exchange or portfolio expansion. Contact me today to explore the possibilities of this prime Pasadena investment.
Property Type(s):
Residential Income
| Last Updated | 11/1/2024 | Year Built | 1923 |
|---|---|---|---|
| Community | Pasadena (NE) | Garage Spaces | 3.0 |
| County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Cooktop, Gas Oven, Oven |
| AREA | Pasadena (NE) |
| CONSTRUCTION | Stucco |
| FIREPLACE | Yes |
| GARAGE | Assigned, Door-Multi, Driveway, Garage, Yes |
| HEAT | Natural Gas |
| LOT | 9202 sq ft |
| LOT DESCRIPTION | Back Yard, Front Yard, Yard |
| PARKING | Assigned,Door-Multi,Driveway,Garage |
| SEWER | Sewer Tap Paid |
| STORIES | 1 |
| STYLE | Spanish |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | PSR6 |
Location
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Listed with Robyn Calvin
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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