121 S Chester Avenue, Pasadena, CA 91106

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Glen Henderson

[email protected] +1(619) 889-7646

$3,100,000

Est. payment - /mo

5 Beds

5 Baths

9,505 Sqft Lot

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UPDATED:

07/26/2024 01:26 AM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Pending

Purchase Type For Sale

MLS Listing ID WS24091810

Bedrooms 5

HOA Y/N No

Lot Size 9,505 Sqft

Type of Financing Cash

Property Description

Situated in the heart of Pasadena, CA, this 12-unit apartment building presents a value-add opportunity, for a patient investor, in one of the most sought-after locations in the city. Boasting a Walk Score of 93, you are near by Cal Tech, Pasadena City College and The Shops on Lake. Built in 1960, this two-story walk-up building is being marketed for the first time in over 40 years. Comprising a mix of 4 one-bedroom/one-bathroom units and 8 two-bedroom/one-and-three-quarter-bathroom units, this property caters to a diverse range of tenants. Each unit features a balcony or patio (except for unit #1, which is the largest 1-bedroom unit), gas forced air heating, and wall air conditioning units. The kitchens are equipped with gas stoves and ovens, tiled countertops and tiled or linoleum floors, while the bathrooms have tiled or linoleum floors and vanities. Living rooms and bedrooms are carpeted. Although interiors have not been upgraded, there is immense potential for renovation and value enhancement. The property is individually metered for gas and electric, with the owner paying for hot water, gardening, trash, and common area electricity. Two 75-gallon hot water heaters serve the building, ensuring ample hot water supply for residents. Parking is provided with 17 tuck-under spaces located below the building; seismic retrofit will need to be done. Additionally, there is space available for a laundry room, offering an opportunity for added convenience and income generation.
Situated in the heart of Pasadena, CA, this 12-unit apartment building presents a value-add opportunity, for a patient investor, in one of the most sought-after locations in the city. Boasting a Walk Score of 93, you are near by Cal Tech, Pasadena City College and The Shops on Lake. Built in 1960, this two-story walk-up building is being marketed for the first time in over 40 years. Comprising a mix of 4 one-bedroom/one-bathroom units and 8 two-bedroom/one-and-three-quarter-bathroom units, this property caters to a diverse range of tenants. Each unit features a balcony or patio (except for unit #1, which is the largest 1-bedroom unit), gas forced air heating, and wall air conditioning units. The kitchens are equipped with gas stoves and ovens, tiled countertops and tiled or linoleum floors, while the bathrooms have tiled or linoleum floors and vanities. Living rooms and bedrooms are carpeted. Although interiors have not been upgraded, there is immense potential for renovation and value enhancement. The property is individually metered for gas and electric, with the owner paying for hot water, gardening, trash, and common area electricity. Two 75-gallon hot water heaters serve the building, ensuring ample hot water supply for residents. Parking is provided with 17 tuck-under spaces located below the building; seismic retrofit will need to be done. Additionally, there is space available for a laundry room, offering an opportunity for added convenience and income generation.

Location

State CA

County Los Angeles

Area Pasadena (91106)

Zoning Public Rec

Interior

Cooling Wall/Window

Appliance Forced Air Unit

Air Conditioning Wall/Window

Building

Story 2

Lot Size Range 7500-10889 SF

Others

Monthly Total Fees $229

Acceptable Financing Cash

Space Rent $1,548

Listing Terms Cash

CFD/Mello-Roos Fee $2, 752

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Listed by KEVIN LUTZ • Keller Williams Realty/Pasadena

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

121 S Chester Avenue Pasadena, CA 91106

Glen Henderson

Key Details

Location

Interior

Building

Others

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