Thank you
Han Chen
Growth Investment Group Pasade
626-594-4900
4.30% CAP Rate Turnkey 16-unit near Pasadena Playhouse District & Lake Ave Shopping. 435 N Wilson Ave, a turnkey and beautifully upgraded 16 units apartment within walking distance to Pasadena Playhouse and South Lake Ave District in the highly desirable City of Pasadena. Situated in the heart of Pasadena, just steps away from the vibrant Old Town, this property benefits from an enviable location that attracts a diverse range of tenants. Situated on an oversized high-density lot, the property offer an investor the rare opportunity to own a turnkey apartment with future development opportunity in an extremely good location in Pasadena. The property has been completely renovated with permits (between 2022-2023 – buyer to verify). It was built in 1960 and consists of 1 single-story building and 1 two-story building. It is situated on an oversized ±17,367sf High Density R4 Lot. This high-density lot provides a clear opportunity for Additional Dwelling Units or future redevelopment opportunity (buyer to verify). The single-story building consists of 6 units. The first unit has a fireplace. The 2-story building consists of the remaining 10 units. Each unit has a sizable private patio or balcony. Top-to-bottom renovations were completed recently on the property, which includes brand new drought tolerant landscaping with center garden area, new building façade, signage and exterior paint, new parking gate and repainted railings, new unit patio fences, new exterior lighting, very well-maintained roof, new dual pane windows throughout and much more. Interior upgrades were completed to each unit, which includes full electrical and plumbing upgrades (plumbing upgrade in unit), new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split HVAC systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher, and refrigerator), and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures. The ownership spent a significant amount of time and capital in relocating the previous tenants and completely upgraded the exterior and interior of the property, making this a turnkey investment for the new owner. The property is separately metered for electricity and gas. Parking is provided by 17 carports in the back; there is no soft-story parking required.
Sell a home like this and save $381,701 Find Out How
Water Source : Public
Sewer : Public Sewer
Property Appliances: Dryer,Washer
Fireplace: None
Flooring: Vinyl,Wood
Wall/Window Unit(s)
Air Conditioning
Wall Furnace
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1960
None
Wrought Iron
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3988
Lot Size Source: Assessor
Lot Size Square Feet: 17372
Original List Price: 6,370,000
Listing Contract Date: 2024-02-19
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5732019039
Garage Description: Assigned
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: 645 - Pasadena (NW)
Postal Code Plus 4: 1140
Directions: 2 blocks east of Lake Ave, crossing Villa St
Zoning: PSR4
Source Property Type: Residential Income
Area: 645 - Pasadena (NW)
Property SubType: Apartment
Property Age: 64
Common Walls: 2+ Common Walls
Property Condition: Updated/Remodeled,Turnkey
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
584 N Mar Vista Avenue, Pasadena, CA,91106 | $1,400,000 | 5 | 3 | 2,228 | 8208 Sqft |
1645 Orlando Road, Pasadena, CA,91106 | $10,980,000 | 7 | 9 | 8,822 | 33070 Sqft |
281 N Mar Vista Avenue .., Pasadena, CA,91106 | $988,000 | 3 | 3 | 1,560 | 20855 Sqft |
189 S Allen Avenue #1, Pasadena, CA,91106 | $1,538,000 | 4 | 3 | 1,810 | 8722 Sqft |
191 S Allen Avenue, Pasadena, CA,91106 | $1,288,000 | 3 | 3 | 1,510 | 8722 Sqft |
931 E Walnut Street #101, Pasadena, CA,91106 | $858,000 | 2 | 2 | 1,440 | 49563 Sqft |
141 N Bonnie Avenue, Pasadena, CA,91106 | $2,085,000 | -- | -- | 4,566 | 8025 Sqft |
314 N Holliston Avenue, Pasadena, CA,91106 | $1,449,000 | -- | -- | -- | 13678 Sqft |
314 N Holliston Avenue, Pasadena, CA,91106 | $1,449,000 | -- | -- | 2,510 | 13678 Sqft |
941 E California Boulev.., Pasadena, CA,91106 | $2,598,000 | 3 | 3 | 3,030 | -- |
Copyright © 2024 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
ByOwner last updated this listing 05/17/2024 @ 17:43
MLS: AR24034803
LISTED BY: Han Chen, Growth Investment Group Pasade
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.