Description

This 11-unit apartment building has a great unit mix consisting of (1) 3 Bedroom 2 bath, (2) 2 bedroom 1 bath and (8) 1 bedroom 1 bath units. The building is a very large 7,492 square feet and is situated on a large lot of 15,382 square feet. The existing owner has spared no expense whenever a vacancy has occurred with improvements like new flooring, new bathrooms, new paint, new kitchens, new stainless steel appliances including dishwashers and wine coolers, new light fixtures, new hardware throughout, new blinds, new locks, new split AC/Heat units in the living room and bedrooms and new individual stacked washers and dryers. As a result, the 1 bedroom units with these improvements are now renting for $2,500 per month. The 2nd floor units boast vaulted ceilings and select units have sliding glass doors and large balconies or patios. The property is situated in a great central Pasadena location close to Cal Tech and PCC. Existing low interest rate loan is assumable. This impressive property would be a desirable addition to any portfolio.