7

UNITS

$130,020

GROSS YEARLY INCOME

11,414

LOT SQFT

$1,946,000

PRICE

PRIMARY INFORMATION

PRICE: $1,946,000

CURRENT STATUS: SOLD

7-Units

(1) 4-bed (1) 2-bed (4) 1-bed (1) studio

11,415 Lot Sqft

Residential Income Property

Year Built: 1959 / Updated 2016

$/Sqft: $437.56

MLS #16764168

FURTHER DETAILS

100% OCCUPIED

Gross scheduled income: $130,020

Total operating expense: $50,448

Net operating income: $79,572

Parking spaces: 9

Levels: Two

Zip Code: 91106

City: Pasadena

County: Los Angeles

AMENITIES

A TON OF PARKING

$165,000 in capital improvements

All-new quality roofing built in 2012

New 2012 HVAC unit, new gutters

Full interior unit remodeling

Nice landscaping / Great condition

Huge lot with open pavement

Laundry machines owned

Instantaneous freeway access

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A rare, prestigious, pride-of-ownership residential income opportunity!

427-429 N. Hill Ave. is a 7-unit, 100% occupied, NON rent- controlled apartment community in a fantastic location in Pasadena.

The unit mix consists of (1) 4-bedroom/2-bathroom, (1) 2- bedroom/1-bathroom, (4) 1-bedroom/1-bathroom, and (1) studio. The 4-bedroom and 2-bedroom units contain central A/C & heating, with wall A/C and furnace in the others.

Over $165,000 in capital improvements since 2002, including brand new 3/4″ plywood COMPLETE REPLACEMENT high-quality roofing on all structures installed in 2012. New gutters, painting and HVAC unit also in 2012. Full interior remodels of the various units over the years, most recently in 2011.

Very nice landscaping throughout. Great condition. The lot size, at 11,414 SF, is HUGE, with individual garage spaces, carport parking and plenty of open pavement for additional parking. Street parking without permits is allowed as well!

The location is convenient and accessible, with instantaneous freeway access, close to Old Town and the fun Pasadena spots, and in a nice school district, making this a highly desirable and in-demand rental community. A truly unique and exciting opportunity for investors.