Seller's Agent in 2024
Kevin Lutz
Keller Williams Realty/Pasadena
(626) 429-0685
2 in this area
21 Total Sales
121 S Chester Ave Pasadena, CA 91106
Playhouse Village Neighborhood
5
Beds
5
Baths
11,098
Sq Ft
9,505
Sq Ft Lot
Highlights
- Subterranean Parking
- Forced Air Heating System
- Carpet
- Cooling System Mounted To A Wall/Window
- Level Lot
- 3-minute walk to Grant Park
About This Home
As of August 2024Situated in the heart of Pasadena, CA, this 12-unit apartment building presents a value-add opportunity, for a patient investor, in one of the most sought-after locations in the city. Boasting a Walk Score of 93, you are near by Cal Tech, Pasadena City College and The Shops on Lake. Built in 1960, this two-story walk-up building is being marketed for the first time in over 40 years. Comprising a mix of 4 one-bedroom/one-bathroom units and 8 two-bedroom/one-and-three-quarter-bathroom units, this property caters to a diverse range of tenants. Each unit features a balcony or patio (except for unit #1, which is the largest 1-bedroom unit), gas forced air heating, and wall air conditioning units. The kitchens are equipped with gas stoves and ovens, tiled countertops and tiled or linoleum floors, while the bathrooms have tiled or linoleum floors and vanities. Living rooms and bedrooms are carpeted. Although interiors have not been upgraded, there is immense potential for renovation and value enhancement. The property is individually metered for gas and electric, with the owner paying for hot water, gardening, trash, and common area electricity. Two 75-gallon hot water heaters serve the building, ensuring ample hot water supply for residents. Parking is provided with 17 tuck-under spaces located below the building; seismic retrofit will need to be done. Additionally, there is space available for a laundry room, offering an opportunity for added convenience and income generation.
Last Agent to Sell the Property
Keller Williams Realty/Pasadena Brokerage Phone: 626-429-0685 License #00925595 Listed on: 05/07/2024
Co-Listed By
Keller Williams Realty/Pasadena Brokerage Phone: 626-429-0685 License #01237798
Last Buyer's Agent
Keller Williams Realty/Pasadena Brokerage Phone: 626-429-0685 License #00925595 Listed on: 05/07/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $34,339
Year Built
- Built in 1960
Lot Details
- 9,505 Sq Ft Lot
- Two or More Common Walls
- Level Lot
Parking
- 17 Car Garage
- Subterranean Parking
- Parking Available
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 11,098 Sq Ft Home
- 2-Story Property
- Carpet
- Gas Oven
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Bathrooms
Outdoor Features
- Rain Gutters
Utilities
- Cooling System Mounted To A Wall/Window
- Forced Air Heating System
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 11 / 2
- Tax Tract Number 5
- Assessor Parcel Number 5735009049
- $2,752 per year additional tax assessments
Community Details
Overview
- 12 Units
Building Details
- 12 Leased Units
- Rent Control
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,456
- Fuel Expense $4,717
- Gardener Expense $2,400
- Insurance Expense $11,349
- Maintenance Expense $19,471
- Other Expense $7,960
- Trash Expense $14,973
- Water Sewer Expense $4,913
- New Taxes Expense $34,339
- Operating Expense $102,578
- Gross Income $236,082
- Net Operating Income $133,505
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 7, 2024
Closed on
Aug 1, 2024
Sold by
Bought by
Seller's Agent
Kevin Lutz
Keller Williams Realty/Pasadena
Buyer's Agent
Kevin Lutz
Keller Williams Realty/Pasadena
List Price
$3,100,000
Sold Price
$2,352,000
Premium/Discount to List
-$748,000
-24.13%
Views
14
Purchase Details
Closed on
Oct 17, 2005
Sold by
Bought by
Purchase Details
Closed on
May 27, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$530,000
Interest Rate
0.0572%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 8, 1994
Sold by
Bought by
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $2,352,000 | Chicago Title Company | ||
| -- | -- | ||
| -- | First American Title Ins Co | ||
| -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $530,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/23/2024 08/23/24 | Sold | $2,352,000 | -24.1% | $212 / Sq Ft |
| 07/24/2024 07/24/24 | Pending | -- | -- | -- |
| 05/30/2024 05/30/24 | For Sale | $3,100,000 | 0.0% | $279 / Sq Ft |
| 05/23/2024 05/23/24 | Pending | -- | -- | -- |
| 05/07/2024 05/07/24 | For Sale | $3,100,000 | -- | $279 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $29,384 | $2,352,000 | $1,500,000 | $852,000 |
| 2024 | $7,468 | $424,679 | $52,128 | $372,551 |
| 2023 | $7,410 | $416,353 | $51,106 | $365,247 |
| 2022 | $7,206 | $408,190 | $50,104 | $358,086 |
| 2021 | $6,905 | $400,187 | $49,122 | $351,065 |
| 2019 | $6,702 | $392,439 | $47,666 | $344,773 |
| 2018 | $6,598 | $384,826 | $46,732 | $338,094 |
| 2016 | $6,235 | $365,924 | $44,918 | $321,006 |
| 2015 | $6,159 | $360,429 | $44,244 | $316,185 |
| 2014 | $6,133 | $353,370 | $43,378 | $309,992 |
Source: Public Records
Agents Affiliated with this Home
-
Kevin Lutz
-
Kevin Hurley
Seller Co-Listing Agent in 2024
Kevin Hurley
Keller Williams Realty/Pasadena
(310) 872-7176
2 in this area
17 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: WS24091810
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Nearby Homes
- 115 S Chester Ave
- 150 S Michigan Ave Unit 201
- 160 S Michigan Ave
- 1115 Cordova St Unit 303
- 235 S Holliston Ave Unit 114
- 137 S Wilson Ave Unit 106
- 137 S Wilson Ave Unit 107
- 121 S Wilson Ave Unit 103
- 195 S Wilson Ave
- 1127 E Del Mar Blvd Unit 318
- 1127 E Del Mar Blvd Unit 323
- 77 N Michigan Ave Unit 1
- 64 N Mar Vista Ave Unit 127
- 64 N Mar Vista Ave Unit 327
- 965 E Del Mar Blvd Unit 3
- 70 Harkness Ave Unit 4
- 102 Harkness Ave Unit 8
- 155 Harkness Ave Unit 6
- 175 S Lake Ave Unit 406
- 175 S Lake Ave Unit 314
- 121 S Chester Ave Unit 6
- 121 S Chester Ave Unit 5
- 121 S Chester Ave Unit 12
- 123 S Chester Ave
- 123 S Chester Ave Unit 7
- 123 S Chester Ave Unit 6
- 123 S Chester Ave Unit 5
- 123 S Chester Ave Unit 4
- 123 S Chester Ave Unit 3
- 123 S Chester Ave Unit 2
- 123 S Chester Ave Unit 1
- 135 S Chester Ave
- 145 S Chester Ave
- 130 S Michigan Ave
- 136 S Michigan Ave
- 1220 E Green St
- 108 S Chester Ave
- 100 S Chester Ave Unit 6
- 100 S Chester Ave Unit 8
- 100 S Chester Ave Unit 11
Your Personal Tour Guide
Ask me questions while you tour the home.