Under contract
211 S El Molino Ave
Pasadena CA, 91101
$4,200,000
$430.77 per sqft
Under contract
8 Beds
16 Baths
9,750 sqft
Multi-family
Built in 1929
5.07% CAP & 13.73 GRM ON CURRENT RENTS!! FULL COPPER PLUMBING, REDONE ROOF, NEW CARPORT ROOF, UPDATED ELECTRICAL, MINI-SPLIT & CENTRAL AC SYSTEMS, UPDATED DRAIN LINES AND WINDOWS, WOOD FLOORS AND NO SOFT-STORY RETROFIT NEEDED! We are pleased to present an outstanding 12-unit property in one of the best rental areas of Pasadena with excellent existing rental income. Madison Heights has a WALKER'S PARADISE score with its close proximity to restaurants, retail and S. Lake Ave. The unit mix consists of four, very large 1 Bed + 1.5 bath units and 8 Studio + 1 bath units, providing ease of renting with desirable unit types achieving top market rents. The interiors offer sheik kitchen designs with newer cabinets and countertops, updated bathrooms and showers, wood flooring and stainless steel appliances. There is on-site, carport parking and the property is separately metered for gas and electricity. There is no other Pasadena property with an equally good location with so many major upgrades done, meticulously maintained with over a 5% CAP RATE. Don't miss this rare opportunity. PLEASE DO NOT DISTURB THE TENANTS.
24-415009
MLSⓇ ID
July 13, 2024
Listed
August 28, 2024
Updated
Map
211 S El Molino Ave
Pasadena CA, 91101
Interior Features
Total Stories
2
Bedrooms
8
Total Bathrooms
16
Appliances
Range/Oven, Refrigerator, Dishwasher, Microwave
Fireplace
No
Cooling
Yes
Cooling Description
Wall Unit(s), Electric
Heating
Yes
Heating Description
Wall, Wall Electric
Exterior/Building Features
Lot Size
0.28 Acres
Other Property Details
Area Name
Pasadena SE
Days on Market
45
Garage
No
Parking
Carport Detached
Parking Total
12
View
No
County
Los Angeles
Pool
No
Zoning
PSR4
Listing History
Date | Event | Price |
---|---|---|
8/28/2024 | Under contract | — |
Listed by Alexander Metaxas with Realty Investment Advisors, Inc.
Listing Contact: 626-313-4901
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor The Angelas Sell Los Angeles | CA DRE# 02050331 | CA DRE# 01917116 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 8/28/2024