Under Contract

285 E Del Mar Blvd

Pasadena CA, 91101

$3,250,000


$537.37 per sqft

Under Contract

13 Beds

9 Baths

6,048 sqft

Residential

Built in 1964

FIRST TIME ON THE MARKET IN OVER 20 YEARS! An opportunity to acquire a turn-key, 7 unit property with a 4.70% Cap on EXISTING RENTS in one of the most sought after parts of Pasadena. The meticulously maintained building shows no signs of deferred maintenance and boasts as a WALKER'S PARADISE with its prime location. It offers an array of desirable features such as full copper plumbing, a pitched roof that was recently replaced and updated windows to name a few. There are Two 2 Bed +1.5 bath townhouse style units, Four 2 Bed + 1 bath units and One 1 Bed + 1 bath unit and ALL have washers and dryers inside. The two-story units are about ~900 SF, the 2Bed units are about ~850-875 SF and the 1Bed is over 600 SF, making these units generous in space and rental desirability. Almost all of them have been remodeled to include newer cabinets in kitchens and hallways, Quartz countertops, Vinyl plank flooring and updated appliances including dishwashers. These apartments have a history of quickly renting, further adding to the stability of this investment. Offering on-site, gated parking for 8 cars with a secured entrance helps limit property access only to tenants. The former laundry room can be utilized to potentially increase rental income as a value-add opportunity for the next owner. The units are separately metered for electricity and gas and each with their own water heater. Properties in this condition and this part of the city rarely come up for sale, so don't miss out on buying this prime piece of real estate. PLEASE DO NOT DISTURB THE TENANTS.

24-371155

MLS ID

March 21, 2024

Listed

May 9, 2024

Updated

Map

285 E Del Mar Blvd
Pasadena CA, 91101

Interior Features

Total Stories

2


Bedrooms

13


Total Bathrooms

9


Appliances

None


Laundry Description

In Unit, Inside


Fireplace

No


Cooling

Yes


Cooling Description

Wall Unit(s)


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.2 Acres

Other Property Details

Area Name

Pasadena SE


Days on Market

22


Garage

No


Parking

Gated


Parking Total

8


View

No


County

Los Angeles


Pool

No


Zoning

PSR4

Listing History

Date

Event

Price

4/12/2024

Under Contract

Listed by Alexander Metaxas with Realty Investment Advisors, Inc.
Listing Contact: 626-313-4901 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Vanessa Withers shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 5/9/2024

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