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OVER 6% CAP RATE AND 10.93 GRM ON CURRENT RENTS! Great investment offering at under $250k per unit on almost 1 acre of land. A Buyer could be looking at over a 6% CASH ON CASH RETURN with this property even with today's interest rates. Cash cow opportunity in super strong rental location with bulletproof buildings on a large lot with BIG UPSIDE! Possibilities for ADU and great rent growth make this one of the best opportunities in Pasadena right now. With mostly single-story floor plans offering a unit mix of One 3Bed+2bath, Three 2Bed+2bath and 16 spacious 1Bed+1bath units. Each unit is equipped with wall-mounted air conditioning and heating, a mix of tile and carpet flooring, and expansive kitchens with gas oven/stove combinations. The property is well-maintained, showcasing an open grass courtyard, an on-site laundry facility that yields a steady flow of income with open and carport parking.
Property Type(s):
Residential Income
| Last Updated | 12/17/2024 | Year Built | 1948 |
|---|---|---|---|
| Community | Pasadena (NE) | County | Los Angeles |
Price History
| Prior to Dec 17, '24 | $5,195,000 |
|---|---|
| Dec 17, '24 - Today | $4,998,000 |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Pasadena (NE) |
| GARAGE | Carport, Uncovered |
| HEAT | Wall Furnace |
| LOT | 0.88 acre(s) |
| PARKING | Carport,Uncovered |
| STORIES | 1 |
| ZONING | PSR3 |
Location
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Listed with Realty Investment Advisors, Inc.
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