DISCLOSURE: Seller is an active real estate broker in California. This offering provides a whopping 6.4% CAP Rate and 8.7% Proforma CAP Rate (buyer to verify CAP Rates), which currently one of the highest CAP Rate for apartments in Pasadena and West San Gabriel Valley submarket. With recent lower interest rates, a buyer could potentially purchase this property with a low down-payment of 35% only and yet still realizing a high 7% Cash-on-cash return (with principal reduction BUYER TO VERIFY!). Walk Score 86 Bike Score 91. The property is a two-story apartment with a charming colonial revival architecture. It was built in 1910; it has a large building size of 6,664 SF and situated on a large 14,061 SF lot. It offers a desirable unit mix (for Pasadena rent control area) of one x 2bed+1bath+den, one x 2bed+1bath, seven x 1bed+1bath, and one x Studio (non-conforming). Four units have been upgraded with brand new flooring throughout, LED lighting, brand new kitchen with quartz countertops + new kitchen cabinets + stainless steel appliances, updated bathroom, and much more. The remaining non-upgraded 7 units provide 24% rental upside, which upon turnover will take the current CAP Rate to a whopping 8.7% proforma CAP Rate (buyer to verify). The property has new exterior
CRAR24027571
Business Opportunities, Other
Los Angeles
1910
0.32
Acres
Public
Public Sewer
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100
Walk Score
Transit Score
Bike Score
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