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$1,470,000
Est. payment /mo
4 Beds
4 Baths
2,328 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,328 sqft
Price per Sqft $631
MLS Listing ID 26845281
Bedrooms 4
HOA Y/N No
Year Built 1924
Lot Size 10,271 Sqft
Property Description
Stabilized Pasadena Fourplex! Strong Fundamentals, Clear Value-Add Upside. Four occupied, individually metered units in Pasadena's desirable Catalina Villas neighborhood. The heavy lifting is done - electrical fully upgraded within the past 10 years, plumbing partially updated, and roof redone in 2009/2010 and in good standing. Each unit includes in-unit washer/dryer. Tenants pay their own trash service. Built in 1924, the building offers four one-bedroom, one-bath units averaging approximately 600 square feet each, with hardwood and tile flooring, wall heaters, and window AC throughout. Units vary in renovation level giving a new owner a unit-by-unit upgrade path and an estimated 10-15% rental upside over current in-place rents without an all-or-nothing capital commitment. Two detached garages currently owner-occupied transfer to a new buyer as an untapped income line. Zoned RM-32, the property permits up to 7 units offering meaningful development upside beyond the in-place income for buyers looking to expand. Located just north of the Playhouse District with walkable access to coffee shops, restaurants, and boutiques. Caltech, Pasadena City College, and Downtown Pasadena are all within close reach. Metro Gold Line and 210 Freeway access round out a location with broad, durable tenant appeal. In-place income, no major deferred maintenance, and a clear value-add thesis. Pasadena's multifamily inventory stays constrained. Properties like this don't sit. DRIVE BY ONLY. DO NOT DISTURB TENANTS.
Location
State CA
County Los Angeles
Area 648 - Pasadena (Se)
Zoning PSR3
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator, Dryer, Washer
Exterior
Parking Features Garage, Community Structure
Total Parking Spaces 4
Building
Story 1
Entry Level One
Architectural Style Spanish
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5738017050
Special Listing Condition Standard
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Listed by Rolan Meyer Compass #02129783
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Marissa Perez
Broker | License ID: 01814964