Han Chen
This listing was posted on RealtyWW.
$5,800,000
Home For Sale In Pasadena, California
Price:
$5,800,000
BR/BA:
10+ BR, 10+ BA
Location:
60 El Nido Ave, Pasadena, CA
Description:
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.For more details: https://realtyww.info/homes_pasadena-d525402/for-sale_i71102824
Property Type:
Single-Family Houses
Sq feet:
570 sq. ft.
Amenities:
Parking, Patio/Deck
Posted:
April 26 on RealtyWW
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More About this Listing: Home For Sale In Pasadena, California
Home For Sale In Pasadena, California is a 10+ BR 10 Bathroom, 10+ BA, 15 Bathroom Single-Family Homes for Sale at 60 El Nido Ave in Pasadena CA. Find other listings like Home For Sale In Pasadena, California and listings near 60 El Nido Ave by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 15 Bathroom Single-Family Homes for Sale in Pasadena CA.
Home For Sale In Pasadena, California is a 10+ BR 10 Bathroom, 10+ BA, 15 Bathroom Single-Family Homes for Sale at 60 El Nido Ave in Pasadena CA. Find other listings like Home For Sale In Pasadena, California and listings near 60 El Nido Ave by searching Oodle Classifieds for 10+ BR 10 Bathroom, 10+ BA, 15 Bathroom Single-Family Homes for Sale in Pasadena CA.