$1,950,000
325 -327 1/2 Pasadena AVE South Pasadena, CA 91030
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$1,950,000
Est. payment /mo
5 BD
5 BA
3,672 SqFt
Contingent
325 -327 1/2 Pasadena AVE South Pasadena, CA 91030
UPDATED:
11/22/2024 03:33 AM
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Contingent
Purchase Type For Sale
Square Footage 3,672 sqft
Price per Sqft $531
MLS Listing ID CRSW24220453
Bedrooms 5
Full Baths 5
Originating Board California Regional MLS
Year Built 1930
Lot Size 0.401 Acres
Property Description
Pasadena Avenue presents an exceptional investment opportunity with a diverse mix of units, two of which will be delivered vacant, allowing for immediate rent increases or owner-occupancy options. The property features a total of four units, including a primary house at 327 Pasadena Avenue, a 2-bedroom, 2-bathroom unit spanning 1,535 sq. ft. and currently occupied. The remaining three units include: A front-facing 1-bedroom, 1-bathroom unit at 325 Pasadena Avenue (737 sq. ft.) A rear 1-bedroom, 1-bathroom unit at 325 ½ Pasadena Avenue (700 sq. ft.) A 1-bedroom, 1-bathroom unit at 327 ½ Pasadena Avenue (700 sq. ft.) This property is competitively priced, with projected rents based on market rates of $2.50 to $3.86 per sq. ft. The four-unit property has a total price of $1,950,000, reflecting a strong investment with potential for rental growth. When combined with the adjacent duplex, the total asking price for both properties is $3,200,000, offering a unique opportunity for future density development on a 0.56-acre lot with 150 feet of frontage. Given the SPR310000 zoning, there is significant potential for maximizing the unit count through entitlements and higher-density development.
Location
State CA
County Los Angeles
Area 658 - So. Pasadena
Zoning SPR310000*
Interior
Cooling Window / Wall Unit
Fireplaces Type None
Laundry Other
Exterior
Pool None
View Local/Neighborhood, Forest / Woods
Building
Story One Story
Water District - Public
Others
Tax ID 5313012003
Special Listing Condition Not Applicable , Accepting Backups
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Listed by Michael Onyemaobi • Revel Real Estate
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