NOT LISTED FOR SALE

Estimated Value: $1,215,000 - $1,496,393

3 Beds
2 Baths
2,292 Sq Ft
$591/Sq Ft Est. Value

Last Sold October 05, 2020

Last sale price $747,500 $326 Per Sq Ft

Est. 81% increase in value since last sale

Current estimated payment $7,863/month

37 Days on Market

Highlights

  • Colonial Architecture
  • Attic
  • High Ceiling
  • Wood Flooring
  • Corner Lot
  • West Facing Home

About This Home

As of October 2020

Contractor/Investors/Historical enthusiasts delight ! Two single family homes (2,292 sq ft) on an oversized lot (11,464 sq ft) are located in the heart of Pasadena. The property stretches one full block facing opposite streets so that each home has its own full private front and back yards. A separate 2-car garage that can potentially be expanded and converted into an ADU. The front house is a Craftsman with 2 beds/1 bath with a large unfinished attic (potential ADU conversion) and partially finished basement. This home has many original historical features such as 13+ ft ceilings, hardwood oak flooring, sliding pocket dinning room doors, large entry porch with Roman pillars. 397 Townsend is a 1 bed/1 bath with laundry room. Both homes will be delivered vacant at close of escrow so that the turnaround time for restoration to their prior glory and fantastic income potential can begin immediately! Renters will appreciate convenience to Old Town Pasadena shopping/restaurants, public transportation/Gold Line, 210, and 134 freeways, iconic Rose Bowl, Cal Tech, JPL and so much more. This opportunity is within 'The Raymond-Summit Historical District' of the City of Pasadena. The buyer to make their own independent investigation as to all development potential.

Last Agent to Sell the Property

David Tramontano

The Jireh Group License #01338351 Listed on: 07/17/2020

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1914

Lot Details

  • 0.26 Acre Lot
  • No Common Walls
  • West Facing Home
  • Corner Lot
  • Level Lot

Parking

  • 2 Car Garage

Home Design

  • Colonial Architecture
  • Cosmetic Repairs Needed
  • Major Repairs Completed
  • Fixer Upper
  • Raised Foundation

Interior Spaces

  • 1-Story Property
  • High Ceiling
  • Wood Flooring
  • Attic
  • Basement

Listing and Financial Details

  • Assessor Parcel Number 5725023037

Community Details

Overview

  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter

Property Details

Home Type

Multi-Family

Year Built

Built in 1914

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • Inclusions: Both house will be delivered vacant at close of escrow.
  • Property Attached: No
  • Subdivision Name Other: Not Applicable - 1007242
  • Zoning: PSR1
  • Architectural Style: Colonial
  • Property Condition: Fixer, Repairs Cosmetic, Repairs Major
  • Property Type: Residential Income
  • Parcel Number: 5725023037
  • Year Built: 1914
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: High Ceilings
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Wood
  • Appliances: No
  • Levels: One
  • Room Type: Attic, Basement

Exterior Features

  • Direction Faces: West
  • Foundation: Raised

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Features: Corner Lot, Level
  • Lot Size Sq Ft: 11441.00
  • Lot Size Acres: 0.2600

Multi Family

  • Lot Size Area: 11441.0000 Square Feet
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 17, 2020
Closed on
Sep 30, 2020
Sold by
Fruttero John Paul and Fruttero Saul G
Bought by
Summit Up Llc
Seller's Agent
David Tramontano
The Jireh Group
List Price
$799,000
Sold Price
$747,500
Premium/Discount to List
-$51,500
-6.45%
Current Estimated Value
$1,355,098

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$607,598
Avg. Annual Appreciation
12.05%
Original Mortgage
$598,000
Interest Rate
2.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 6, 2003
Sold by
Fruttero Saul G
Bought by
Fruttero Saul G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$305,000
Interest Rate
6.4%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 15, 1997
Sold by
Fruttero Nancy G
Bought by
Fruttero Saul G
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
Summit Up Llc $747,500 Chicago Title Company
Fruttero Saul G -- Security Union Title
Fruttero Saul G -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Summit Up Llc $598,000
Previous Owner Fruttero Saul G $305,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/05/2020 10/05/20 Sold $747,500 0.0% $326 / Sq Ft
08/24/2020 08/24/20 Pending -- -- --
08/21/2020 08/21/20 Off Market $747,500 -- --
08/06/2020 08/06/20 Price Changed $749,000 -6.3% $327 / Sq Ft
07/17/2020 07/17/20 For Sale $799,000 -- $349 / Sq Ft
Source: Pasadena-Foothills Association of REALTORS®

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 $9,413 $809,116 $649,458 $159,658
2024 $9,413 $793,252 $636,724 $156,528
2023 $9,334 $777,699 $624,240 $153,459
2022 $9,017 $762,450 $612,000 $150,450
2021 $8,650 $747,500 $600,000 $147,500
2020 $3,060 $230,867 $148,420 $82,447
2019 $3,064 $226,341 $145,510 $80,831
2018 $2,973 $221,904 $142,657 $79,247
2016 $2,844 $213,289 $137,118 $76,171
2015 $2,812 $210,086 $135,059 $75,027
2014 $2,774 $205,972 $132,414 $73,558
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Pasadena-Foothills Association of REALTORS®

MLS Number: P0-820002755

Pasadena-Foothills Association of REALTORS®

APN: 5725-023-037