Description

A GENERATIONAL ASSET AVAILABLE FOR THE FIRST TIME IN OVER 50 YEARS!! We are pleased to present for sale an outstanding 40-unit multifamily property location at 990 Valley View in Pasadena offering scale, an outstanding unit mix, and real potential for significant, long-term rent growth. Located near Hastings Ranch, it borders the city of Sierra Madre and is one of the only apartment buildings in the surrounding area. The building features a highly desirable unit mix consisting of 32 two-bedroom/one-bath units and 8 one-bedroom/one-bath units, with the building records showing a size of over 41,200 total square feet. A handful of units having been fully remodeled, providing a proven blueprint for future interior renovations and the potential to capture real rent growth with turnover. The location and size of this property only add to its appeal and rarity. Just a 5-minute drive to the extensive collection of shopping, dining, entertainment, and everyday conveniences at Hastings Village and Hastings Ranch Center. The destinations include Whole Foods Market, Trader Joe's, Sprouts Farmers Market, Dick's Sporting Goods, Lucky Strike, and a laundry list other retailers, restaurants, and services. The building has already benefited from important capital improvements, including updated windows, completed soft-story seismic retrofit, copper plumbing and a recent repainting helping reduce near-term capital requirements. The electrical system has been serviceable for building and has been insurable for current ownership. DO NOT DISTURB TENANTS OR MANAGER.