Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

10

Building size

6,920 sqft

Lot size

8,736 sqft

Year built

1959

Stories

2

Garage spaces

0

Style

Mid Century Modern

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

Pool

None

View

Mountain(s),Peek-A-Boo

Status

Active

Days on market

0

MLS #

248763431

About this property

Prime 10-unit Value-add several blocks from CALTECH and PCC, Class A Location, Corner lot on Union St, RM-48 Zone, Walkscore 94, Long-time owner, Very Well-maintained. A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at an attractive 6.22% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment with no known deferred maintenance and excellent in-place rents. The property was built in 1959 and situated on southeast corner of Mar Vista Ave and Union St. It has a total of ±6,920SF building size and is situated on a large ±8,744SF R4 lot. It has small lawn in the front with side paver stone courtyard that provides easy access to units. The roof is in excellent condition, all the windows have been upgraded, and the property has updated exterior paint. It offers an excellent unit mix of two (2) 2-bedroom+1-bathroom, and eight (8) 1-bedroom+1-bathroom units. Approximately 8 out of 10 of the units have had upgrades with updated kitchen, updated flooring and updated bathroom (buyer to verify). The units are spacious and bright with updated dual pane windows throughout. Two units are vacant and can be delivered vacant There are 9 parking spaces provided by carports in the back – there is no soft story retrofit required. Parking is secured by an automatic parking gate. There is a shared laundry room with seller’s own machines. Each unit is separately metered for gas and electricity.

Location

112 N Mar Vista Avenue

Pasadena, Los Angeles, CA, 91106