Active

435 N Wilson Avenue

Pasadena CA, 91106

$6,370,000


Active

Condo

Built in 1960

Listed by Han Chen with Growth Investment Group Pasade 626-594-4900

4.30% CAP Rate Turnkey 16-unit near Pasadena Playhouse District & Lake Ave Shopping. 435 N Wilson Ave, a turnkey and beautifully upgraded 16 units apartment within walking distance to Pasadena Playhouse and South Lake Ave District in the highly desirable City of Pasadena. Situated in the heart of Pasadena, just steps away from the vibrant Old Town, this property benefits from an enviable location that attracts a diverse range of tenants. Situated on an oversized high-density lot, the property offer an investor the rare opportunity to own a turnkey apartment with future development opportunity in an extremely good location in Pasadena.

The property has been completely renovated with permits (between 2022-2023 - buyer to verify). It was built in 1960 and consists of 1 single-story building and 1 two-story building. It is situated on an oversized +-17,367sf High Density R4 Lot. This high-density lot provides a clear opportunity for Additional Dwelling Units or future redevelopment opportunity (buyer to verify). The single-story building consists of 6 units. The first unit has a fireplace. The 2-story building consists of the remaining 10 units. Each unit has a sizable private patio or balcony.

Top-to-bottom renovations were completed recently on the property, which includes brand new drought tolerant landscaping with center garden area, new building facade, signage and exterior paint, new parking gate and repainted railings, new unit patio fences, new exterior lighting, very well-maintained roof, new dual pane windows throughout and much more.

Interior upgrades were completed to each unit, which includes full electrical and plumbing upgrades (plumbing upgrade in unit), 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 ownership spent a significant amount of time and capital in relocating the previous tenants and completely upgraded the exterior and interior of the property, making this a turnkey investment for the new owner. The property is separately metered for electricity and gas. Parking is provided by 17 carports in the back; there is no soft-story parking required.

AR24034803

MLS ID

February 19, 2024

Listed

May 31, 2024

Updated

Map

435 N Wilson Avenue
Pasadena CA, 91106

Interior Features

Total Stories

2


Appliances

Dryer, Washer


Floor Description

Vinyl, Wood


Fireplace

Yes


Fireplace Description

None


Cooling

Yes


Cooling Description

Wall/Window Unit(s)


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.4 Acres


Lot Features

Near Public Transit, Rectangular Lot, Street Level, Value In Land


Architectual Style

Mid-Century Modern


Sewer

Public Sewer

Other Property Details

Area Name

645 - Pasadena (NW)


Days on Market

102


Garage

No


Parking

Assigned


Parking Total

17


View

No


View Description

None


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

PSR4


Buyer Agency Compensation

2%

Listing Contact: 626-594-4900 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/31/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/31/2024 at 9:55 PM UTC

 

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