Sold

Closed

285 E Del Mar Boulevard

Pasadena CA, 91101

$3,150,000


$520.83 per sqft

Sold

Closed

13 Beds

9 Baths

6,048 sqft

Residential

Built in 1964

Listed by Alexander Metaxas with Realty Investment Advisors, Inc. 626-313-4901

FIRST TIME ON THE MARKET IN OVER 20 YEARS! An opportunity to acquire a turn-key, 7 unit property with a 4.70% Cap on EXISTING RENTS in one of the most sought after parts of Pasadena. The meticulously maintained building shows no signs of deferred maintenance and boasts as a WALKER'S PARADISE with its prime location. It offers an array of desirable features such as full copper plumbing, a pitched roof that was recently replaced and updated windows to name a few. There are Two 2 Bed +1.5 bath townhouse style units, Four 2 Bed + 1 bath units and One 1 Bed + 1 bath unit and ALL have washers and dryers inside. The two-story units are about ~900 SF, the 2Bed units are about ~850-875 SF and the 1Bed is over 600 SF, making these units generous in space and rental desirability. Almost all of them have been remodeled to include newer cabinets in kitchens and hallways, Quartz countertops, Vinyl plank flooring and updated appliances including dishwashers. These apartments have a history of quickly renting, further adding to the stability of this investment. Offering on-site, gated parking for 8 cars with a secured entrance helps limit property access only to tenants. The former laundry room can be utilized to potentially increase rental income as a value-add opportunity for the next owner. The units are separately metered for electricity and gas and each with their own water heater. Properties in this condition and this part of the city rarely come up for sale, so don't miss out on buying this prime piece of real estate. PLEASE DO NOT DISTURB THE TENANTS.

24371155

MLS ID

March 21, 2024

Listed

August 30, 2024

Updated

Map

285 E Del Mar Boulevard
Pasadena CA, 91101

Interior Features

Total Stories

2


Bedrooms

13


Total Bathrooms

9


Laundry Description

Inside


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.2 Acres

Other Property Details

Area Name

648 - Pasadena (SE)


Days on Market

22


Garage

No


Parking

Gated


Parking Total

8


View

No


County

Los Angeles


Pool

No


Zoning

PSR4

Listing History

Date

Event

Price

7/2/2024

Sold

$3,150,000

6/26/2024

Pending

4/12/2024

Under contract

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/30/2024. 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 8/30/2024 at 7:06 PM UTC

 

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