NOT LISTED FOR SALE

175 N Catalina Ave Pasadena, CA 91106

Playhouse Village Neighborhood
10 Beds
9 Baths
5,264 Sq Ft
9,948 Sq Ft Lot

Last Sold October 16, 2023

Last sale price $1,400,000 $266 Per Sq Ft

125 Days on Market

About This Home

As of October 2023

LOWEST PRICE PER SQ. FT. OF ANY APARTMENT BUILDING IN PASADENA! This 5 unit apartment property offers an excellent value-add opportunity for any investor or even an owner user as the property consists of four spacious units in front with a detached bungalow house in back. This tremendous location is situated just one-half mile (0.5 mi) from the Metro Gold Line station to the North and the restaurants of S. Lake Ave and famous Shoppers Lane to the South. The four spacious units in front feature a great unit mix of a two-story 4 bedroom + 2 bath townhouse unit and three 2 bedroom + 1.5 bath units. The detached 1 bedroom + 1 bath bungalow in back is close to 700 SF (Buyer to verify) with its own dedicated carport and private back yard. There are 4 covered parking spaces that can park 2 cars tandem for the front units and two more spaces for detached house, so 10 on-site parking spaces. Enclosed storage rooms and two units have private, fenced patio area. The property is separately metered for gas and electricity with a community laundry room and central water heater. Situated on a 9,948 SF lot with a high-density zoning of RM-48, the property directly across the street with a similar lot size currently has 9 Townhome units being developed. There is potential to create an ADU within the property (Buyer to verify with City). For an investor, this property presents the opportunity to achieve a much higher rental income as units become vacant since the property is under Pasadena Rent Control laws. Given the location, property features and incredibly strong rental demand of Pasadena, this multifamily property is a very strong long-term investment and hedge against inflation.

Last Agent to Sell the Property

Alexander Metaxas

Realty Investment Advisors, Inc. License #01784652 Listed on: 05/22/2023

Co-Listed By

Benjamin Hsiang

Realty Investment Advisors, Inc. License #01438644

Last Buyer's Agent

Subscriber Non

Non-Participant Office License #13252

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 9,948

Home Design

  • 5,264 Sq Ft Home
  • Split Level Home

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 9 Bathrooms

Parking

  • 9 Parking Spaces
  • Carport

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Additional Features

  • Oven or Range
  • Shed
  • 9,948 Sq Ft Lot

Listing and Financial Details

  • Assessor Parcel Number 5738-003-008

Community Details

Overview

  • 2 Buildings
  • 5 Units

Building Details

  • Rent Control

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Living Area: 5264
  • Lot Acreage: 0.2284
  • Year Built: 1964
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 10
  • Total Bathrooms: 9.00
  • Equipment: Range/Oven, Refrigerator
  • Price Per S Q F T: 265.96

Exterior Features

  • Other Structures: Other, Shed(s)

Garage/Parking

  • Parking Garage: Covered Parking, Carport
  • Total Parking: 9

Utilities

  • Cooling: Wall Unit(s), Wall/Window
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 72.42
  • Assessed Improvement Value: 189170
  • Assessed Land Percent: 27.58
  • Assessed Land Value: 72031
  • Total Assessed Value: 261201
  • Assessor Parcel Number: 5738-003-008
  • Lot Size Area: 9948

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 15.02
  • Number Of Units: 5
  • Rent Control: 100
  • Type Of Units: Apartments

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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 List to Sale Price per Sq Ft
10/16/2023 10/16/23 Sold $1,400,000 0.0% $266 / Sq Ft
09/24/2023 09/24/23 Pending -- -- --
09/14/2023 09/14/23 Price Changed $1,400,000 -22.0% $266 / Sq Ft
09/14/2023 09/14/23 Price Changed $1,795,000 +28.2% $341 / Sq Ft
09/14/2023 09/14/23 For Sale $1,400,000 -22.0% $266 / Sq Ft
08/01/2023 08/01/23 Pending -- -- --
07/24/2023 07/24/23 For Sale $1,795,000 +28.2% $341 / Sq Ft
07/07/2023 07/07/23 Off Market $1,400,000 -- --
06/26/2023 06/26/23 Price Changed $1,795,000 -10.2% $341 / Sq Ft
05/22/2023 05/22/23 For Sale $1,998,000 -- $380 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

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 $16,769 $1,428,000 $1,142,400 $285,600
2024 $16,769 $1,400,000 $1,120,000 $280,000
2023 $4,377 $266,424 $73,471 $192,953
2022 $4,249 $261,201 $72,031 $189,170
2021 $4,072 $256,080 $70,619 $185,461
2020 $3,949 $253,455 $69,895 $183,560
2019 $3,949 $248,486 $68,525 $179,961
2018 $3,856 $243,615 $67,182 $176,433
2016 $3,657 $234,157 $64,574 $169,583
2015 $3,614 $230,641 $63,605 $167,036
2014 $3,585 $226,124 $62,360 $163,764
Source: Public Records

Agents Affiliated with this Home

  • Alexander Metaxas

    Seller's Agent in 2023

    Alexander Metaxas

    Realty Investment Advisors, Inc.

    (626) 487-4300

    3 in this area

    37 Total Sales

    Alexander Metaxas
    Section Image
  • Benjamin Hsiang

    Seller Co-Listing Agent in 2023

    Benjamin Hsiang

    Realty Investment Advisors, Inc.

    (424) 377-6001

    3 in this area

    73 Total Sales

    Benjamin Hsiang
    Section Image

  • S

    Buyer's Agent in 2023

    Subscriber Non

    Non-Participant Office

See All Agents

Map

Source: The MLS

MLS Number: 23-270989

The MLS
California Los Angeles County Pasadena 91106 Playhouse Village

175 N Catalina Ave, Pasadena, CA

Not Listed for Sale

MultiFamily

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