$2,362,000
SOLD OCT 18, 2024
4 Beds
4 Baths
4,464 Sq Ft
8,211 Sq Ft Lot

Recently Sold

$529 Per Sq Ft

2% Below List Price

22 Days on Market

Highlights

  • Golf Course Community
  • New Construction
  • Multi-Level Bedroom
  • John Muir High School Rated A-
  • City Lights View
  • 4-minute walk to Villa Parke

About This Home

As of October 2024

Pasadena4Plex Quadplex . a brand-new construction designed to offer versatility and modern living in one of Pasadena's most desirable neighborhoods. This property features four distinct units, perfect for a large family, living in one and renting the rest, or for investors seeking a lucrative opportunity. The two larger units boast 2 bedrooms and 2 bathrooms across a spacious 1,434 sq ft of living space. These tri-level homes include a 2-car garage and a rooftop deck, perfect for entertaining or enjoying the beautiful California weather. The interiors are designed with modern finishes, offering an open-concept living area, gourmet kitchen, and ample natural light.

The two additional units are cozy 2-bedroom, 2-bathroom homes, each offering 798 sq ft of thoughtfully designed living space. These units are ideal for tenants or extended family, combining comfort and style. The entire property will be equipped with solar panels and air conditioning throughout, ensuring energy efficiency and year-round comfort.

Whether you're an investor seeking a strong cap rate, a family looking to occupy the entire property, or a buyer looking to live in one unit and rent out the others, this multi-unit lot offers incredible potential. Its prime location in Pasadena provides easy access to local amenities, dining, and entertainment. Seize this rare opportunity to own a brand-new, multi-unit property in a thriving community!

Last Agent to Sell the Property

David Morales

Popular Real Estate Brokerage Phone: 562-818-3304 License #01893696 Listed on: 08/12/2024

Last Buyer's Agent

Yue Chang Lei

Pinnacle Real Estate Group License #01883075

Pinnacle Real Estate Group

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2024 | New Construction

Lot Details

  • 8,211 Sq Ft Lot
  • Two or More Common Walls
  • South Facing Home
  • Wrought Iron Fence
  • Density is 2-5 Units/Acre

Parking

  • 4 Open Parking Spaces
  • 4 Car Garage
  • Attached Carport
  • Parking Available
  • Driveway
  • Automatic Gate
  • Assigned Parking

Property Views

  • City Lights
  • Canyon

Home Design

  • Quadruplex
  • Pillar, Post or Pier Foundation

Interior Spaces

  • 4,464 Sq Ft Home
  • 3-Story Property
  • Double Pane Windows
  • Fire and Smoke Detector
  • Laundry Room

Kitchen

  • Gas Range
  • Dishwasher

Flooring

  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Multi-Level Bedroom
  • 4 Bathrooms

Utilities

  • Central Heating and Cooling System
  • Natural Gas Connected

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for insurance, trash collection
  • Tax Lot 11
  • Tax Tract Number 42176
  • Assessor Parcel Number 5731021064
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 4 Units

Recreation

  • Golf Course Community
  • Dog Park
  • Bike Trail

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters
  • Insurance Expense $6,000
  • Other Expense $3,000
  • Trash Expense $1,000
  • New Taxes Expense $30,000
  • Operating Expense $40,000
  • Net Operating Income $128,000

Property Details

Home Type

Multi-Family

Year Built

Built in 2024 | New Construction

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • CapRate: 5.33
  • Price Per Unit: 600000
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Automatic Gate, Smoke Detector(s)
  • View: Yes
  • Zoning: PSR4
  • New Construction: Yes
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Parcel Number: 5731021064
  • Year Built: 2024
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: NewHome

Interior Features

  • Fireplace: No
  • Stories: 3
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Flooring: Tile, Vinyl
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Three Or More
  • Price Per Square Foot: 529.12
  • Room Type: Multi-Level Bedroom
  • Window Features: Double Pane Windows

Exterior Features

  • Direction Faces: South
  • Foundation: Pillar/Post/Pier
  • View: Canyon, City Lights
  • Fence: Yes
  • Fencing: Wrought Iron
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Assigned, Attached Carport, Asphalt
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Range
  • Electric: Standard
  • Heating Type: Central
  • Laundry Features: In Closet
  • Sewer: Public Sewer
  • Trash Expense: 1000.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Biking, Dog Park, Golf, Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 8211.00
  • Lot Size Acres: 0.1885
  • Latitude Manual: 34.15246300

Rental Info

  • Tenant Pays: Insurance, Trash Collection

Multi Family

  • Gross Multiplier: 14.28
  • Gross Scheduled Income: 168000.00
  • Insurance Expense: 6000.00
  • Lot Size Area: 8211.0000 Square Feet
  • Net Operating Income: 128000.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Patio: 2
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 40000.00
  • Other Expense: 3000.00
  • Other Expense Description: Upkeep
  • Rent Control: No
  • Total Expenses: 40000.00

Tax Info

  • New Taxes Expense: 30000.00
  • Tax Area: 7500
  • Tax Lot: 11
  • Tax Tract Number: 42176

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
10/18/2024 10/18/24 Sold $2,362,000 -1.6% $529 / Sq Ft
09/04/2024 09/04/24 Pending -- -- --
08/12/2024 08/12/24 For Sale $2,399,999 +346.1% $538 / Sq Ft
06/13/2023 06/13/23 Sold $538,000 -10.3% --
04/20/2023 04/20/23 For Sale $600,000 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW24162064

California Regional Multiple Listing Service (CRMLS)