NOT LISTED FOR SALE

Pasadena, CA 91104

East Washington Village Neighborhood
3 Beds
3 Baths
4,587 Sq Ft
9,257 Sq Ft Lot

Last Sold November 26, 2019

Last sale price $1,600,000 $349 Per Sq Ft

55 Days on Market

Highlights

  • Property is near public transit
  • Pasadena High School Rated A
  • Rectangular Lot

About This Home

As of November 2019

This investment opportunity consists of two buildings, front building built in 1924 with 5 units consisting of 1- 2 bedroom 1 bathroom, 1- 1 bedroom 1 bathroom, and 3 studio 1 bathroom units. The rear building was built in 1949 with 6 units all studios with their own individual hot water heaters. These buildings are approximately 4,587 square feet situated on approximately 9,257 square feet of land. The buildings are separately metered for gas and electric. There is on-site parking for 6 cars. The City of Pasadena currently does not have a rent control ordinance. The property is located in North Pasadena approximately one (1) mile of North of the Foothill (210) Freeway. Conveniently located to grocery stores, pharmacies, libraries, parks and shopping.

Last Agent to Sell the Property

Steven Weinberg

Citadel Ventures, Inc. License #00857322 Listed on: 07/17/2019

Last Buyer's Agent

Diran Afarian

Berkshire Hathaway Home Services Golden Properties License #01039173

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1949

Lot Details

  • 9,257 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot

Home Design

  • Split Level Home
  • Property Attached
  • Fixer Upper
  • Raised Foundation

Interior Spaces

  • 4,587 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Parking Available

Location

  • Property is near public transit

Utilities

  • Natural Gas Connected
  • Septic Type Unknown

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 3 / 4
  • Assessor Parcel Number 5741001003

Community Details

Overview

  • 2 Buildings
  • 11 Units

Building Details

  • 10 Leased Units
  • Rent Control
  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • Electric Expense $143
  • Fuel Expense $739
  • Gardener Expense $1,990
  • Insurance Expense $4,520
  • Maintenance Expense $24,655
  • Other Expense $1,797
  • Professional Management Expense $5,046
  • Trash Expense $2,458
  • Water Sewer Expense $1,849
  • New Taxes Expense $22,000
  • Operating Expense $65,713
  • Gross Income $137,400
  • Net Operating Income $67,565

Property Details

Home Type

Multi-Family

Year Built

Built in 1949

Lot Details

0

Listing Details

  • CapRate: 3.80
  • Professional Management Expense: 5046.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • View: No
  • Water Sewer Expenses: 1849.00
  • Zoning: CL
  • Property Condition: Fixer
  • Property Type: Residential Income
  • Gardener Expense: 1990.00
  • Parcel Number: 5741001003
  • Year Built: 1949
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Multi/Split
  • Price Per Square Foot: 348.81

Exterior Features

  • Foundation: Raised
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: Yes
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 6.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected
  • Laundry: No
  • Sewer: Unknown
  • Trash Expense: 2458.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot, Near Public Transit
  • Lot Size Sq Ft: 9257.00
  • Lot Size Acres: 0.2125

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 143.00
  • Fuel Expense: 739.00
  • Gross Income: 137400.00
  • Gross Multiplier: 12.81
  • Gross Operating Income: 133278.00
  • Gross Scheduled Income: 137400.00
  • Gross Spendable Income: 67565.00
  • Insurance Expense: 4520.00
  • Lot Size Area: 9257.0000 Square Feet
  • Maintenance Expense: 24655.00
  • Net Operating Income: 67565.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Units Leased: 10
  • Number Of Units Total: 11
  • Operating Expense: 65713.00
  • Operating Expense Percent: 48.00
  • Other Expense: 1797.00
  • Other Expense Description: Misc.
  • Rent Control: Yes
  • Total Actual Rent: 137400.00
  • Total Expenses: 65713.00
  • Vacancy Allowance: 4122
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 22000.00
  • Tax Block: 4
  • Tax Census Tract: 4625.00
  • Tax Lot: 3

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/26/2019 11/26/19 Sold $1,600,000 -9.1% $349 / Sq Ft
09/10/2019 09/10/19 Pending -- -- --
07/17/2019 07/17/19 For Sale $1,760,000 -- $384 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Steven Weinberg

    Seller's Agent in 2019

    Steven Weinberg

    Citadel Ventures, Inc.

    (818) 992-4896

    13 Total Sales

    Steven Weinberg
    Section Image

  • D

    Buyer's Agent in 2019

    Diran Afarian

    Berkshire Hathaway Home Services Golden Properties

    (626) 797-7622

    3 Total Sales

    Diran Afarian
    Section Image
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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR19272458

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Pasadena 91104

East Washington Village

This home since 17 July 2019. This property was built in 1949. This home is a home located in Los Angeles County with nearby schools including Webster Elementary School, Charles W. Eliot Arts Magnet Academy, and Pasadena High School.

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.

California Regional Multiple Listing Service (CRMLS) 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

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