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529 541 S El Molino Street

Pasadena, CA 91101

$6,780,000 $28,584/Mo

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Overview

Bed

Bath

30,367

Sqft(Lot)

Description

TROPHY Class-A Location - 20-unit Steps from South Lake Ave, Erewhon, Caltech, and Old Town Pasadena | Attractive Returns with Major CapEx Completed | Bungalow Style Units + Expansive R3-Zoned Lot. HACIENDA GARDEN, a 20-unit apartment (2 x 10-unit) investment opportunity located in the highly desirable Playhouse District area of Pasadena, an eclectic cosmopolitan community rich in history and architecture. The property is right in the heart of Pasadena with short walking distance to multiple popular districts such as South Lake Ave Business District, Erewhon, CALTECH, and Old Town Pasadena. This offer provides investors with an opportunity to acquire a well-maintained asset in a trophy location with attractive return. It has a Walk Score of 81 out of 100. HACIENDA GARDEN is a 20-un it garden-style apartment community that consists of two properties: 529 S El Molino (10 units) and 541 S El Molino (10 units). It has a total building size of ±14,815 sqft and is situated on a large 30,367 sqft R3-zoned lot with excellent curb appeal and neatly manicured landscaping. It is exceptionally well-maintained in a Class-A neighborhood of Pasadena. 529 S El Molino is a bungalow style 10-unit with a total building size of 8,263 SF and situated on a 20,252 SF lot. It offers a gorgeous bungalow-style layout with center courtyard complete with attractive curb appeal. It has 10 units that are spread out over 5 buildings. Four of them are single story bungalows, and the fifth building is a two-story building. It has two (2) x 2-bedroom+1-bathroom, six (6) x 1-bedroom+1-bathroom, and two (2) x Studio units. Many units have been partially updated with refinished original hardwood floor, high 10ft ceiling, crown molding, upgraded bathroom, designer lighting fixtures, windows A/C, and tiled kitchen. The 4 back units are large with estimated size of ±1038 sqft per unit. The 541-S was built in 1950, has a total building size of 6,552 SF and is situated on a 10,115 SF lot. It is a two-story garden style apartment with brick pavers walkway. It offers ten (10) x 1-bedroom+1-bathroom units. The building has brand new staircases (rebuilt with permit) and several units have been updated with 2 units have full copper plumbing. The property does NOT have any tuck-under parking and does NOT require any soft story retrofit. It is individually metered for electricity and gas, and has a shared laundry room.

Property Details

Property Type : ResidentialIncome

Price : $6,780,000

AD Id : 86505960

MLS Id : AR26139329

Lot Size : 30,367 Sqft

Year Built : 1950

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Interior Features

Roof: Shingle

Appliances: Gas Range, Refrigerator

Laundry Features: Common Area
Heating & Cooling

Has Heating: Yes Heating: Wall Furnace Has Cooling: Yes Cooling: Wall/Window Unit(s)

Building Information

Year Built: 1950

Stories: 2

Pool Features: None

Private Pool: No

View: None

Lot Information

Main Square Feet: 30367 Lot Size Acres: 0.6971 Lot Size Source: Assessor Lot Size Square Feet: 30,367 Lot Description: 36-40 Units/Acre,Front Yard,Garden,Lawn,Landscaped,Level,Near Public Transit,Rectangular Lot,Street Level

Listing Price Information

Listing Price: $6780000

Cash, Cash to New Loan

Tax Information

Parcel Number: 5734019011 Tax Lot: 0

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Total: 19 Asphalt, Covered, Detached Carport, Driveway

Utility Information

Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Location Information

Direction: northwest side of El Molino ave and California Ave, south of Del Mar Blvd. WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
606 N El Molino Avenue, Pasadena, CA, 91101	$1,208,000	4	3	2,520	2,520 SqFt
840 E Green #305, Pasadena, CA, 91101	$1,295,000	2	2	1,917	1,917 SqFt
709 E Walnut Street #222, Pasadena, CA, 91101	$699,900	--	1	706	706 SqFt
295 S Hudson Avenue, Pasadena, CA, 91101	$5,595,000	--	--	9,945	9,945 SqFt
421 N Euclid Avenue, Pasadena, CA, 91101	$2,999,000	--	--	7,089	7,089 SqFt
239 E Villa Street, Pasadena, CA, 91101	$3,675,000	12	12	8,502	8,502 SqFt
408 E Del Mar Boulevard, Pasadena, CA, 91101	$889,000	2	1	1,162	1,162 SqFt