Seller's Agent in 2022
Han Widjaja-Chen
GIG Real Estate Inc.
(626) 594-4901
2 in this area
54 Total Sales
89 Hurlbut St Pasadena, CA 91105
Madison Heights Neighborhood
3
Beds
2
Baths
4,661
Sq Ft
10,493
Sq Ft Lot
Highlights
- Wood Flooring
- Community Pool
- Laundry Room
- No HOA
- Ductless Heating Or Cooling System
- 9 Detached Carport Spaces
About This Home
As of July 202289 Hurlbut St is a Pride-of-Ownership, turnkey/fully upgraded 9 units luxury apartment in the City of Pasadena. The property is located just steps away from Huntington Hospital Pasadena on Fair Oaks Ave, and within walking distance to Old Town Pasadena. The properties offer an investor the rare opportunity to own a high cash flowing apartment property in one of the most desirable locations in Pasadena. This prime & irreplaceable location, turn-key condition, combined with higher cap rate (compared to other properties in this area) offer investors attractive investment vehicle to combat raging inflation. This property offers higher allowable annual rent increases under California AB1482 (5% + CPI).
The property has been completely renovated from top to bottom, and offers an attractive mix of one 2bedroom, and eight 1bedroom units. The community is gated and has secured entrance with community swimming pool and art mural in the pool area. The property was built in 1961 and situated on a large ±10,493sf R3 lot. All the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades, new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split HVAC systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher, and refrigerator), and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures. The exterior upgrades include new entry gate, new parking gate, new exterior paint and signage, completely redone landscaping, updated electrical, and much more!
The ownership spent significant amount of time (±12 months) and capital in relocating the previous tenants and completely upgraded the exterior and interior of the property, making this a completely turnkey investment for new owner. The property is separately metered for electricity and gas. Parking is provided by 9 carports in the back – there is no soft-story parking required. Given its excellent real estate fundamentals, complete renovation, and an irreplaceable location, the 89 Hurlbut St is an unparalleled investment for an investor seeking stable risk-adjusted returns, wealth preservation, and a hedge against inflation.
Last Agent to Sell the Property
GIG Real Estate Inc. License #01749321 Listed on: 06/09/2022
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1961
Lot Details
- 10,493 Sq Ft Lot
- Two or More Common Walls
- Level Lot
Home Design
- Apartment
Interior Spaces
- 2-Story Property
- Family Room with Fireplace
Kitchen
- Six Burner Stove
- Gas Range
- Microwave
- Dishwasher
- Disposal
Flooring
- Wood
- Laminate
- Vinyl
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Parking
- 9 Parking Spaces
- 9 Detached Carport Spaces
- Parking Available
- Assigned Parking
Utilities
- Ductless Heating Or Cooling System
- High Efficiency Air Conditioning
- Heating Available
- Standard Electricity
Additional Features
- ENERGY STAR Qualified Equipment
- Suburban Location
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 17
- Assessor Parcel Number 5719025011
Community Details
Overview
- No Home Owners Association
- 9 Units
- Valley
Recreation
- Community Pool
Building Details
- 9 Leased Units
- 10 Separate Electric Meters
- 10 Separate Gas Meters
- 1 Separate Water Meter
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/22/2022 07/22/22 | Sold | $4,400,000 | -4.3% | $944 / Sq Ft |
| 07/07/2022 07/07/22 | Pending | -- | -- | -- |
| 06/09/2022 06/09/22 | For Sale | $4,600,000 | -- | $987 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $51,140 | $4,577,760 | $2,288,880 | $2,288,880 |
| 2024 | $51,140 | $4,488,000 | $2,244,000 | $2,244,000 |
| 2023 | $50,718 | $4,400,000 | $2,200,000 | $2,200,000 |
| 2022 | $27,219 | $2,318,775 | $1,545,850 | $772,925 |
| 2021 | $7,690 | $544,545 | $176,602 | $367,943 |
| 2020 | $7,438 | $541,213 | $174,792 | $366,421 |
| 2019 | $7,440 | $530,646 | $171,365 | $359,281 |
| 2018 | $7,382 | $520,286 | $168,005 | $352,281 |
| 2016 | $7,088 | $497,922 | $161,482 | $336,440 |
| 2015 | $7,003 | $490,444 | $159,057 | $331,387 |
| 2014 | $6,928 | $480,838 | $155,942 | $324,896 |
Source: Public Records
Agents Affiliated with this Home
-
Han Widjaja-Chen
-
Bill Lewis
Buyer's Agent in 2022
Bill Lewis
Assurance Realty, Inc.
(626) 765-5079
2 in this area
10 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: AR22124919
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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