Description

This 67% vacant building in a highly desirable area of Pasadena offers a savvy investor opportunity to buy single-story bungalow style apartments in an excellent part of Pasadena. This is the first time the property is being offered for sale in 28 years. The property is only several blocks north of Old Town Pasadena and has a high Walk Score 86 – Bike Score 91. The property is a single-story bungalow style apartment that was built in 1937. It is situated on a large ±13,128 SF lot. It has been carefully maintained and has undergone major upgrades such as updated electrical panels, and sewer line (buyer to verify during due diligence). It offers a desirable unit mix of two x 2bed+1bath, and four x 1bed+1bath units. All the units have had some upgrades, and 3 of the units have been fully upgraded with high-end and modern updates. Each unit has original hard wood flooring, double pane windows, individual water heater, laundry hookups (except 1 unit – 3 units come with laundry machines), private patio, mini-split A/C & heating. Three units are currently being rented as vacation rentals and will be delivered fully upgraded and fully furnished. The 4th vacant unit has had some updates. The property has 5 garage spaces and 3 open parking spaces totaling 8 spaces. From 5 garages, only 2 are assigned to tenants leaving the remaining 3 available for extra income or even ADU conversion. Each unit has an individual water heater and separate meters for electricity and gas. No parking soft story is required.