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308 Pasadena, South Pasadena, CA 91030
Priced at Only: $6,580,000
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Address: 308 Pasadena, South Pasadena, CA 91030
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  • MLS#: AR26054584 ( Apartment )
  • Street Address: 308 Pasadena
  • Viewed: 6
  • Price: $6,580,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1953
  • Bldg sqft: 0
  • Days On Market: 34
  • Additional Information
  • County: LOS ANGELES
  • City: South Pasadena
  • Zipcode: 91030
  • Provided by: Growth Investment Group Pasade
  • Contact: Handoko Handoko
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    PRICE REDUCED for QUICK SALE! 20 unit Value add in South Pasadena (NO LOCAL Rent Control), Walk to Arroyo Seco Golf Course and Mission Street Downtown District, Prime Large R3 Lot with ADU Potential, South Pasadena School District, Exceptional Demographics. A premier 20 unit value add investment opportunity in the highly coveted city of South Pasadena. Renowned for its high barriers to entry and exceptionally limited multifamily inventory, South Pasadena offers investors a rare chance to acquire a substantial footprint in a top tier Southern California submarket with No Local Rent Control (under CA AB1482). Strategically located a block from the Arroyo Seco Golf Course and within walking distance to the vibrant Mission Street Downtown District, the property provides tenants with unparalleled access to premium shopping, dining, and community amenities along Mission Street and Fair Oaks Avenue. The surrounding area boasts exceptional demographics, including an average household income exceeding $178,928 within a one mile radius, and falls within the prestigious South Pasadena Unified School District. Built in 1953, this distinct Mid Century Modern garden style community features a well manicured front lawn and strong curb appeal. The 9,990 SF building rests on an expansive 21,008 SF R3 zoned lot, presenting significant potential for future ADU development. It has a sparkling and fenced swimming pool, and offers a highly desirable unit mix consisting of two (2) 2 bedroom/1 bathroom unit and eighteen (18) 1 bedroom/1 bathroom units. Each unit has individual water heater. The fully upgraded units have new flooring throughout, new kitchen with new cabinets and quartz countertops, new bathroom with tiled wall, and so much more. Current ownership has successfully proven the value add concept by fully upgrading 15 units with high end finishes, including new flooring, modern kitchens and bathrooms, and dual pane windows throughout. The remaining five classic units provide a clear and actionable path for the new owner to capture significant rental upside. The property is gated, separately metered for electricity and gas, and includes 20 on site parking spaces in the rear, alongside a seller owned community laundry facility.
Features
Accessibility Features
  1. None
Additional Parcels Description
  1. 5313011005
Appliances
  1. Gas Range
Architectural Style
  1. Mid Century Modern
Assessments
  1. Buyer to Verify
Association Fee
  1. 0.00
Building Area Total
  1. 9990.00
Carport Spaces
  1. 19.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Construction Materials
  1. Stucco
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Days On Market
  1. 31
Current Financing
  1. Conventional
Direction Faces
  1. Southeast
Electric
  1. Standard
Electric Expense
  1. 0.00
Fencing
  1. Wrought Iron
Fireplace Features
  1. None
Flooring
  1. Vinyl
  2. Wood
  3. Laminate
Foundation Details
  1. Raised
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 2800.00
Heating
  1. Wall Furnace
Insurance Expense
  1. 11533.00
Interior Features
  1. Quartz Counters
  2. Copper Plumbing Partial
  3. Ceiling Fan(s)
Laundry Equipment Own Lease
  1. Own
Laundry Features
  1. Community
Laundry Income
  1. 4800.00
Levels
  1. Two
Lot Features
  1. 31-35 Units/Acre
  2. Level with Street
  3. Landscaped
  4. Rectangular Lot
  5. Level
  6. Near Public Transit
  7. Lot 20000-39999 Sqft
Netoperatingincome
  1. 324163.00
Newtaxesexpense
  1. 72355.00
Number Of Separate Electric Meters
  1. 21
Number Of Separate Gas Meters
  1. 21
Number Wallac
  1. 20
Number With Disposal
  1. 20
Number With Range
  1. 20
Number Wit Hrefrigerator
  1. 15
Parcel Number
  1. 5313011004
Parking Features
  1. Assigned
  2. Carport
Pool Expense
  1. 1800.00
Pool Features
  1. Community
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Property Condition
  1. Repairs Cosmetic
  2. Updated/Remodeled
Road Surface Type
  1. Paved
Roof
  1. Flat
Security Features
  1. Carbon Monoxide Detector(s)
  2. Smoke Detector(s)
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 458418540:CRM
Spa Features
  1. None
Tenant Pays
  1. Gas
  2. Electricity
Totalactualrent
  1. 39676.00
Totalexpenses
  1. 147131.00
Trash Expense
  1. 6800.00
Uncovered Spaces
  1. 1.00
Utilities
  1. Natural Gas Connected
  2. Phone Available
  3. Sewer Connected
  4. Cable Connected
  5. Electricity Connected
  6. Water Connected
Vacancyallowance
  1. 9618
View
  1. Hills
Water Sewer Expense
  1. 30470.00
Water Source
  1. Public
Year Built
  1. 1953
Year Built Source
  1. Assessor
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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