325 -327 1/2 Pasadena AVE Save Request In-Person Tour Request Virtual Tour
South Pasadena,CA 91030
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 3,672 sqft
Price per Sqft $531
MLS Listing ID SW24220453
Bedrooms 5
Full Baths 5
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 Wall/Window Unit(s)
Fireplaces Type None
Laundry Inside
Exterior
Pool None
Community Features Biking,Dog Park,Golf,Park,Sidewalks
View Y/N Yes
View Neighborhood,Trees/Woods
Building
Lot Description 2-5 Units/Acre
Dwelling Type Quadruplex
Story 1
Sewer Public Sewer
Water Public
New Construction No
Schools
School District South Pasadena
Others
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange
Special Listing Condition Standard