$5,600,000
SOLD JUL 1, 2025
3 Beds
3 Baths
14,468 Sq Ft
0.39 Acres

Recently Sold

$387 Per Sq Ft

122 Days on Market

Highlights

  • 0.39 Acre Lot
  • Community Pool
  • Rectangular Lot
  • John Muir High School Rated A-
  • Laundry Room

About This Home

As of July 2025

We are pleased to present Sharlotte Apartments, a 16-unit apartment community in Pasadena, CA. This property features an excellent unit mix consisting of majority 2-bedroom 2-bath units with balconies/patios, gated entry, covered parking, individual gas and electric meters, and a sparkling pool. The building has undergone several exterior upgrades such as soft story retrofitting, reinforced balconies & decks, all new windows, new electric panels, and a new roof (2021). The interiors have been tastefully renovated with granite countertops, new cabinetry, stainless steel appliances, recessed LED lighting, laminate wood flooring or new carpet, and upgraded bathrooms. This multigenerational asset has been meticulously maintained throughout ownership and is on the market for the first time in 48 years. With strong in-place rents, the property generates a current cap rate of 5.7%, 7.1% with market rents, offering an investor roughly 20% upside in rental income. This trophy asset is ideal for investors seeking a well-maintained, well-located turnkey asset with upside potential and no differed maintenance.

Last Agent to Sell the Property

Ryan Loria

Triqor Group Brokerage Phone: 949-756-3232 License #02006138 Listed on: 12/02/2024

Last Buyer's Agent

Teresa Taylor

Keyholder Estate License #01103511

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 0.39 Acre Lot
  • Two or More Common Walls
  • Rectangular Lot

Home Design

  • Apartment

Interior Spaces

  • 14,468 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Parking

  • 21 Parking Spaces
  • 21 Carport Spaces

Listing and Financial Details

  • Assessor Parcel Number 5731016019
  • $3,733 per year additional tax assessments

Community Details

Recreation

  • Community Pool

Building Details

  • Rent Control
  • 16 Separate Electric Meters
  • 16 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $148,537
  • Gross Income $468,254
  • Net Operating Income $319,717

Additional Features

  • 16 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Price Per Unit: 350000
  • Property Attached: Yes
  • Zoning: PSR1
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5731016019
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: /
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 387.06

Exterior Features

  • Pool Features: Community
  • Pool Private: No

Garage/Parking

  • Carport Spaces: 21.00
  • Total Parking Spaces: 21.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 16801.00
  • Lot Size Acres: 0.3857

Multi Family

  • Gross Income: 468254.00
  • Gross Scheduled Income: 482736.00
  • Lot Size Area: 16801.0000 Square Feet
  • Net Operating Income: 319717.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 16
  • Operating Expense: 148537.00
  • Rent Control: Yes
  • Total Expenses: 148537.00

Tax Info

  • Tax Census Tract: 4622.01
  • TaxOtherAnnualAssessmentAmount: 3733.00

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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
07/01/2025 07/01/25 Sold $5,600,000 0.0% $387 / Sq Ft
05/22/2025 05/22/25 For Rent $2,450 -20.8% --
03/11/2025 03/11/25 Price Changed $3,095 +3.2% $3 / Sq Ft
01/18/2025 01/18/25 Price Changed $3,000 0.0% $3 / Sq Ft
01/18/2025 01/18/25 For Rent $3,000 0.0% --
12/02/2024 12/02/24 For Sale $5,600,000 0.0% $387 / Sq Ft
09/06/2024 09/06/24 Price Changed $2,800 +40.4% $3 / Sq Ft
08/02/2024 08/02/24 Price Changed $1,995 -9.1% $2 / Sq Ft
06/26/2024 06/26/24 Price Changed $2,195 -24.3% $2 / Sq Ft
06/05/2024 06/05/24 Price Changed $2,900 -1.7% $3 / Sq Ft
05/02/2024 05/02/24 Price Changed $2,950 +5.4% $3 / Sq Ft
03/10/2024 03/10/24 Price Changed $2,800 +12.0% $3 / Sq Ft
03/09/2024 03/09/24 For Rent $2,500 0.0% --
05/03/2023 05/03/23 Price Changed $2,500 +8.7% $3 / Sq Ft
11/11/2022 11/11/22 Price Changed $2,300 -25.7% $2 / Sq Ft
11/10/2022 11/10/22 For Rent $3,095 -- --
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: PW24242697

California Regional Multiple Listing Service (CRMLS)