NOT LISTED FOR SALE

385 Grace Dr South Pasadena, CA 91030

Estimated Value: $1,601,476 - $1,814,000

4 Beds
4 Baths
2,643 Sq Ft
$643/Sq Ft Est. Value

Last Sold October 25, 2024

Last sale price $1,633,000 $618 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $9,116/month

113 Days on Market

Highlights

  • Cul-De-Sac
  • Fireplace
  • Laundry Room
  • Arroyo Vista Elementary Rated A+
  • Cooling Available
  • Fenced

About This Home

As of October 2024

Now with a vacant owners' unit as of 9/1/24. This mid-century modern duplex circa 1954 is nestled at the end of a verdant cul-de-sac in South Pasadena on a quarter acre property. The two spacious homes, which only share one wall, are on the market for the first time in over 50 years, during which time numerous updates have been made. Each unit has a private garden with mature trees and landscaping. Both units are two bedrooms. The larger one, #387, has two bathrooms and a bonus den in addition to the living and dining room with wood-paneling, a brick fireplace, hardwood floors, and a roomy outdoor garden. The other unit, #385, has one bathroom and features a shaded courtyard patio garden. The thoughtfully designed structure followed the redevelopment of the street by architect Bob Ray Offenhauser, who soon after graduating from the USC School of Architecture, bought and rezoned two of the lots on the street, turning them into duplexes. He later was commissioned to design 12 more on the street. Like Offenhauser's designs, this duplex features great mid-century ranch elements Like roof overhangs with expressed structure, built-in cabinets, steel-frame windows, and original elegantly-proportioned brick chimneys and facades. The larger unit, 387, is vacant; the smaller, 385, is tenant occupied. Great investment opportunity in a highly sought-after city with blue ribbon schools.

Last Agent to Sell the Property

Jennifer Parker-Stanton

COMPASS License #01728184 Listed on: 07/02/2024

COMPASS

Co-Listed By

Jake Lazere

COMPASS License #02135438

COMPASS

Last Buyer's Agent

Jake Lazere

COMPASS License #02135438

COMPASS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1954

Lot Details

  • 0.26 Acre Lot
  • 1 Common Wall
  • Cul-De-Sac
  • Fenced

Parking

  • 4 Car Garage
  • Carport
  • Parking Available

Home Design

  • Duplex

Interior Spaces

  • 2,643 Sq Ft Home
  • Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tax Lot 14
  • Assessor Parcel Number 5317016004

Community Details

Overview

  • 2 Units

Building Details

  • Rent Control
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Gardener Expense $2,400
  • Insurance Expense $1,321
  • Trash Expense $900
  • Water Sewer Expense $1,932
  • Operating Expense $6,553
  • Gross Income $67,200
  • Net Operating Income $60,647

Property Details

Home Type

Multi-Family

Year Built

Built in 1954

Lot Details

0

Parking

4

Listing Details

  • Assessments: No
  • Inclusions: All appliances.
  • Property Attached: Yes
  • Subdivision Name Other: Not Applicable
  • View: No
  • Water Sewer Expenses: 1932.00
  • Zoning: SPR210000*
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Gardener Expense: 2400.00
  • Parcel Number: 5317016004
  • Year Built: 1954
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Common Walls: 1 Common Wall
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 617.86

Exterior Features

  • Fence: Yes
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Carport
  • Total Parking Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Refrigerator
  • Sewer: Public Sewer
  • Trash Expense: 900.00
  • Water Source: Public
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Land Lease: No
  • Lot Features: Cul-De-Sac
  • Lot Size Sq Ft: 11329.00
  • Lot Size Acres: 0.2601

Multi Family

  • Gross Income: 67200.00
  • Gross Scheduled Income: 67200.00
  • Insurance Expense: 1321.00
  • Lot Size Area: 11329.0000 Square Feet
  • Net Operating Income: 60647.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 2
  • Operating Expense: 6553.00
  • Other Expense Description: Seller provided expenses info.
  • Rent Control: Yes
  • Total Expenses: 6553.00

Tax Info

  • Tax Lot: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 2, 2024
Closed on
Oct 21, 2024
Sold by
Propert Gerald Thomas Jenkinson Separate and Thomas Jenkinson Gerald
Bought by
385 Grace Llc
Seller's Agent
Jennifer Parker-Stanton
COMPASS
Buyer's Agent
Jake Lazere
COMPASS
List Price
$2,050,000
Sold Price
$1,633,000
Premium/Discount to List
-$417,000
-20.34%
Views
109
Current Estimated Value
$1,700,619

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$67,619
Avg. Annual Appreciation
3.30%
Original Mortgage
$1,233,000
Outstanding Balance
$1,219,665
Interest Rate
6.2%
Mortgage Type
New Conventional
Estimated Equity
$480,954

Purchase Details

Closed on
Dec 19, 2019
Sold by
Jenkinson Gerald Thomas
Bought by
Jenkinson Gerald Thomas and Gerald Thomas Jennkinson Trus

Purchase Details

Closed on
Jul 23, 2019
Sold by
Jenkinson Gerald Thomas and Jenkinson Carol Ann
Bought by
Jenkinson Gerald Thomas

Purchase Details

Closed on
Feb 5, 1999
Sold by
Jenkinson Gerald T
Bought by
Jenkinson Gerald Thomas and Jenkinson Carol Ann
Source: Public Records

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

Purchase History

Date Buyer Sale Price Title Company
385 Grace Llc $1,633,000 Lawyers Title Company
Jenkinson Gerald Thomas -- None Available
Jenkinson Gerald Thomas -- None Available
Jenkinson Gerald Thomas -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 385 Grace Llc $1,233,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/25/2024 10/25/24 Sold $1,633,000 -14.1% $618 / Sq Ft
10/23/2024 10/23/24 Pending -- -- --
10/01/2024 10/01/24 Price Changed $1,900,000 -7.3% $719 / Sq Ft
07/02/2024 07/02/24 For Sale $2,050,000 -- $776 / Sq Ft
Source: Pasadena-Foothills Association of REALTORS®

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 $3,215 $1,633,000 $1,140,000 $493,000
2024 $3,215 $169,640 $82,175 $87,465
2023 $3,155 $166,314 $80,564 $85,750
2022 $3,090 $163,054 $78,985 $84,069
2021 $3,024 $159,858 $77,437 $82,421
2019 $2,938 $155,118 $75,141 $79,977
2018 $2,716 $152,077 $73,668 $78,409
2016 $2,528 $146,173 $70,808 $75,365
2015 $2,490 $143,978 $69,745 $74,233
2014 $2,480 $141,158 $68,379 $72,779
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Pasadena-Foothills Association of REALTORS®

MLS Number: P1-18313

Pasadena-Foothills Association of REALTORS®

APN: 5317-016-004