Description

We are pleased to present this 3 unit multifamily property located at 112 Grandview St in Pasadena, CA. Built in 1948, this 1,623 square foot building is situated on a 5,193 square foot double corner lot, and it has a unit mix of (2) 1 Bed / 1 Bath units and (1) 2 Bed / 1 Bath unit. Each unit is separately metered for gas and electric, and the tenants are responsible for their own trash bill, so the only utility expense for the landlord is water. Also, each unit has its own separate hot water heater, and all three water heaters have been replaced in the past 5 years. The 2 Bed / 1 Bath unit has been extensively renovated over the last year with a brand new electrical panel, all new appliances, floors, cabinets, quartz countertops, HVAC system, in unit washer/dryer, along with a newly remodeled bathroom with subway tiles. Both 1-Bed units have not been renovated and provide healthy upside for the buyer, and these two units have laundry hookups but no laundry machines. The subject property has 3 private garage parking spaces, one for each unit, all with brand new automatic garage doors, and there are an additional 3 uncovered parking spaces to be used in addition to the garage stalls. This is an ideal value add investment for an experienced or first time investor who wants to take advantage of the rental upside and ADU potential that this property presents.