NOT LISTED FOR SALE

26 Virginia Ave Pasadena, CA 91107

Lamanda Park Neighborhood

Estimated Value: $1,369,000 - $1,820,773

5 Beds
4 Baths
2,336 Sq Ft
$693/Sq Ft Est. Value

Last Sold May 01, 2018

Last sale price $1,250,000 $535 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $9,842/month

120 Days on Market

Highlights

  • No Units Above
  • 1-Story Property
  • 3-minute walk to Lamanda Park Library Pocket Park
  • Pasadena High School Rated A

About This Home

As of May 2018

We are pleased to offer for sale this 4 unit investment property in the highly valuable rental community of Pasadena. Located just south of Colorado Blvd between Sierra Madre Blvd and San Gabriel Blvd, the subject property is in a strongly sought after investment area and a dense rental market. The property consists of 1(2Bed/1Bath) single-story Detached Cottage, and 3 (1Bed/1Bath) units located in a single-story Tri-Plex. The property offers private garden walkways, onsite garage parking (3 stalls) and is separately metered for electricity & gas. The subject property offers a newer roof, updated electrical panel and wiring as well as copper plumbing. Given the ever increasing rental rates in the Pasadena area, a new investor can take advantage of a significant upside in rental income once the property has been repositioned with market rents.

Last Agent to Sell the Property

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 12/04/2017

RE/MAX 2000 REALTY

Last Buyer's Agent

Stacy Myers

RE/MAX CHAMPIONS License #01433071

RE/MAX CHAMPIONS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1941

Lot Details

  • 7,498 Sq Ft Lot
  • No Units Above
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Parking

  • 3 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 2,336 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 021
  • Tax Tract Number 11
  • Assessor Parcel Number 5748011021

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,500
  • Maintenance Expense $3,457
  • Other Expense $600
  • Water Sewer Expense $1,122
  • New Taxes Expense $14,502
  • Operating Expense $20,917
  • Gross Income $73,380
  • Net Operating Income $50,262

Property Details

Home Type

Multi-Family

Year Built

Built in 1941

Lot Details

0

Parking

3

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 1122.00
  • Zoning: PSR3
  • Property Type: Residential Income
  • Parcel Number: 5748011021
  • Year Built: 1941
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 1 Common Wall, No One Above
  • Levels: One
  • Price Per Square Foot: 535.10

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 7498.00

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 73380.00
  • Gross Scheduled Income: 73380.00
  • Insurance Expense: 1500.00
  • Maintenance Expense: 3457.00
  • Net Operating Income: 50262.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 20917.00
  • Other Expense: 600.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Expenses: 20917.00

Tax Info

  • New Taxes Expense: 14502.00
  • Tax Census Tract: 4632.00
  • Tax Lot: 021
  • Tax Tract Number: 011

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 4, 2017
Closed on
Apr 5, 2018
Sold by
M B Equity Llc
Bought by
Forbush Mark and Forbush Carol
Seller's Agent
Kristopher German
RE/MAX 2000 REALTY
Buyer's Agent
Stacy Myers
RE/MAX CHAMPIONS
List Price
$1,295,000
Sold Price
$1,250,000
Premium/Discount to List
-$45,000
-3.47%
Current Estimated Value
$1,619,943

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$369,943
Avg. Annual Appreciation
3.44%
Original Mortgage
$814,020
Outstanding Balance
$700,044
Interest Rate
4.44%
Mortgage Type
New Conventional
Estimated Equity
$919,899

Purchase Details

Closed on
Sep 8, 2015
Sold by
Smith David V and Smith Linda A
Bought by
M B Equity Llc

Purchase Details

Closed on
May 21, 2009
Sold by
Smith David V and Smith Linda A
Bought by
Smith David V and Smith Linda A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 18, 2009
Sold by
Smith David V and Smith Linda A
Bought by
Smith David V and Smith Linda A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 2, 2005
Sold by
Smith David V and Smith Linda A
Bought by
Smith David V and Smith Linda A
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Forbush Mark $1,250,000 North American Title Company
M B Equity Llc $875,000 North American Title Company
Smith David V -- Ticor Title Company
Smith David V -- Ticor Title Company
Smith David V -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Forbush Mark $814,020
Previous Owner Smith David V $350,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/01/2018 05/01/18 Sold $1,250,000 -3.5% $535 / Sq Ft
04/03/2018 04/03/18 Pending -- -- --
01/24/2018 01/24/18 For Sale $1,295,000 0.0% $554 / Sq Ft
01/15/2018 01/15/18 Pending -- -- --
12/04/2017 12/04/17 For Sale $1,295,000 -- $554 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $16,252 $1,422,282 $853,369 $568,913
2024 $16,252 $1,394,395 $836,637 $557,758
2023 $16,116 $1,367,055 $820,233 $546,822
2022 $15,563 $1,340,250 $804,150 $536,100
2021 $14,933 $1,313,972 $788,383 $525,589
2020 $14,341 $1,300,500 $780,300 $520,200
2019 $14,377 $1,275,000 $765,000 $510,000
2018 $10,867 $910,350 $520,200 $390,150
2016 $10,517 $875,000 $500,000 $375,000
2015 $3,861 $280,005 $165,686 $114,319
2014 $3,813 $274,521 $162,441 $112,080
Source: Public Records

Agents Affiliated with this Home

  • Kristopher German

    Seller's Agent in 2018

    Kristopher German

    RE/MAX

    (909) 645-0443

    122 Total Sales

    Kristopher German
    Section Image
  • Stacy Myers

    Buyer's Agent in 2018

    Stacy Myers

    RE/MAX

    (626) 274-7996

    23 Total Sales

    Stacy Myers
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV17269092

California Regional Multiple Listing Service (CRMLS)

APN: 5748-011-021

California Los Angeles County Pasadena 91107 Lamanda Park

26 Virginia Ave, Pasadena, CA

Not Listed for Sale

MultiFamily

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