$6,370,000 Price Analysis   ♡   Pasadena, CA 91106 16 bed 16 bath unknown SqFt ($0/SqFt) 0.4 acre lot. Built 1960 Listed 2024-02-19, Taxes $20,338 | Ⓧ USDA Ineligible due to price & location near Pasadena |
4.30% CAP Rate Turnkey 16-unit near Pasadena Playhouse District and Lake Ave Shopping.
435 N Wilson Ave, a turnkey and beautifully upgraded 16 units apartment within walking distance to Pasadena Playhouse and South Lake Ave District in the highly desirable City of Pasadena. Situated in the heart of Pasadena, steps away from the vibrant Old Town, this property benefits from an enviable location that attracts a diverse range of tenants. Situated on an oversized high-density lot, the property offer an investor the rare opportunity to own a turnkey apartment with future development opportunity in an extremely good location in Pasadena. The property has been completely renovated with permits (between 2022-2023 buyer to verify). It was built in 1960 and consists of 1 single-story building and 1 two-story building. It is situated on an oversized 17, 367sf High Density R4 Lot. This high-density lot provides a clear opportunity for Additional Dwelling Units or future redevelopment opportunity (buyer to verify). The single-story building consists of 6 units.
The first unit has a fireplace. The 2-story building consists of the remaining 10 units. Each unit has a sizable private patio or balco ny. Top-to-bottom renovations were completed recently on the property, which includes brand new drought tolerant landscaping with center garden area, new bulding faade, signage and exterior paint, new parking gate and repainted railings, new unit patio fences, new exterior lighting, well-maintained roof, new dual pane windows throughout and much more. Interior upgrades were completed to each unit, which includes full electrical and plumbing upgrades (plumbing upgrade in unit), new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split HVAC systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher and refrigerator) and new bathrooms with new vanities, toilets, bathtubs and name brand fixtures. The ownership spent a significant amount of time and capital in relocating the previous tenants and completely upgraded the exterior and interior of the property, making this a turnkey investment for the new owner. The property is separately metered for electricity and gas. Parking is provided by 17 carports in the back; there is no soft-story parking required.
Presented by Han Chen at
Growth Investment Group Pasade.
Property MLS #AR24034803 from CRMLS
Heating Features: Wall Furnace
Heating: Yes
Garage Spaces: 16
Parking Features: Parking YN: Yes, Parking Features: Assigned
Parking Total: 17
Lot Size Acres: 0.3988
Lot Size Source: Assessor
Lot Size Square Feet: 17372
Bedrooms in Unit-1: 1
Total Bathrooms in Unit-1: 1
Unit-1 Garage Spaces: 16
Gardener Expense: 2780.00
Maintenance Expense: 4398.00
Tenant Pays: Electricity, Gas
Rent Control: Yes
County: Los Angeles
Cap Rate: 4.30
Source Property Type: Residential Income
Insurance Expense: 3234.00
Area: 645 - Pasadena (NW)
Source Neighborhood: 645 - Pasadena (NW)
New Taxes Expense: 69417.00
Number of Separate Electric Meters: 17
Number of Separate Gas Meters: 17
Number of Separate Water Meters: 1
Parcel Number: 5732019039
Pest Control Expense: 779.00
Postal Code Plus 4: 1140
Professional Management Expense: 7490.00
Trash Expense: 6539.00
Zoning: PSR4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $364,907 + $1,216,367 $1,581,274 | $20,338 |
| 2021 | $357,752 + $1,192,517 $1,550,269 | $19,198 |
| 2020 | $354,084 + $1,180,290 $1,534,374 | $18,496 |
| 2019 | $347,142 + $1,157,148 $1,504,290 | $18,519 |
| 2018 | $340,336 + $1,134,459 $1,474,795 | $18,876 |
| 2017 | $333,663 + $1,112,215 $1,445,878 | $18,653 |
| 2016 | $327,121 + $1,090,407 $1,417,528 | $18,269 |
| 2015 | $322,208 + $1,074,029 $1,396,237 | $18,180 |
| 2014 | $315,897 + $1,052,991 $1,368,888 | $17,909 |
| 2013 | $314,470 + $1,048,233 $1,362,703 | $17,892 |
| 2012 | $308,304 + $1,027,680 $1,335,984 | $17,721 |
| 2010 | $302,259 + $1,007,530 $1,309,789 | $4,416 |
| 2009 | $145,063 + $31,009 $176,072 | $4,319 |
| 2009 | $144,719 + $30,935 $175,654 | $4,319 |
| 2008 | $142,219 + $30,401 $172,620 | $4,105 |
| 2007 | $139,431 + $29,805 $169,236 | $3,883 |
$6,370,000
CRMLS
Listing removed 2024-02-07
$0
CRMLS
Listed 2023-07-21
$6,800,000
CRMLS
Sold 2010-05-26
$1,300,000
Public Record
Listing removed 2010-05-17
$1,500,000
CRMLS
Relisted 2010-05-05
$1,500,000
CRMLS
Listing removed 2010-03-29
$1,500,000
CRMLS
Listed 2010-03-12
$1,500,000
CRMLS
Sold 1974-12-27
$115,500
Public Record
Sewer: Sewer: Public Sewer, Water Sewer Expense: 3591.00
Cable Connected
Electricity Connected
Natural Gas Connected
Phone Available
Sewer Connected
Water Connected
Water Source: Public
Building Features: 2
Common Walls: 2+ Common Walls
Direction Faces: East
Entry Level: 1
Entry Location: 1
Property Age: 64
Property Attached: Yes
Property Condition: Turnkey, Updated/Remodeled
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
House Style: Mid Century Modern
Year Built Source: Assessor
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.