Active

60 El Nido Avenue

Pasadena CA, 91107

$5,800,000


Active

Condo

Built in 1946

Listed by Han Chen with Growth Investment Group Pasade 626-594-4900

A HIGH CAP Rate and almost turnkey 12-unit + 3 ADUs garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. With CAP Rate Close to 5% in a Class-A Location, Single-story duplexes layout, and Arcadia adjacent location, this offering provides an extremely rare opportunity for investors to acquire a beautifully upgraded apartment in an excellent location in Pasadena. Six out of 12 units (50%) have been completely upgraded and provides new owners with immediate market rent without having to deal with tenant relocation and units upgrade process. The property is a beautiful asset with attractive four single-story duplexes and one two-story fourplex in the back. It is located in a mature and quiet residential neighborhood with superb access to many City of Pasadena and City of Arcadia have to offer. It is near Target shopping center, Hastings Ranch neighborhood in Pasadena and located close to City of Arcadia border with Santa Anita Mall just minutes away. The property was built in 1946 and underwent massive renovation in 2023-2024. It is situated on an oversized +-20,570 SF lot size with medium density zoning RM-32 (32 units/Acre). It has excellent curb appeal with front drought tolerant landscaping, new wrought-iron gate and fencing, and many more upgrades.

It offers an attractive unit mix of 8 x 1bedroom+1bathroom, 4 x Studio, and will be built 3 x New ADUs 1bedroom+1bathroom. Each unit is bright with an excellent layout. Six out of 12 units have been fully upgraded with high-end finishings such as brand-new flooring throughout, brand new kitchen with kitchen island complete with high-end cabinets and quartz countertops, brand new bathroom complete with tiled bathroom and new vanity cabinets, new mini-split HVAC system in living room and bedroom, and brand new almost everything. The upgraded unit comes with laundry machines. Four back units have large private balcony/patio. There is a large common area backyard in the back, complete with a large fruit producing Avocado tree.

Parking is provided by 12 parking spaces where each of the 4 duplexes has 2 parking spaces in between the units (no shared wall between units). The remaining 4 parking spaces are in the back fourplex. Each unit has an individual water heater and separately metered for electricity and gas. The owner is in the process of obtaining final approval for 3 ADUs and the price includes the 3 ADUs built.

AR24082052

MLS ID

April 24, 2024

Listed

May 25, 2024

Updated

Map

60 El Nido Avenue
Pasadena CA, 91107

Interior Features

Total Stories

1


Appliances

Dryer, Washer


Laundry Description

Common Area, Washer Hookup, Gas Dryer Hookup


Floor Description

Laminate, Vinyl, Wood


Fireplace

Yes


Fireplace Description

None


Cooling

Yes


Cooling Description

Wall/Window Unit(s)


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.47 Acres


Lot Features

31-35 Units/Acre, Back Yard, Lawn, Landscaped, Near Park, Near Public Transit, Rectangular Lot


Architectual Style

Bungalow


Roof

Shingle


Sewer

Public Sewer

Other Property Details

Area Name

648 - Pasadena (SE)


Days on Market

13


Garage

No


Parking

Attached Carport, Assigned, Carport


Parking Total

12


View

Yes


View Description

Mountain(s), Peek-A-Boo


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

PSR3


Buyer Agency Compensation

2%

Listing Contact: 626-594-4900 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:08 AM UTC

 

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