541 El Molino Avenue Pasadena, CA - 91101

  • Status Active
  • MLS# AR19121229
  • List Price $7,900,000
  • Bedrooms N/A
  • Days On Market 33
  • Acres 0.6971
  • Sq.ft 14815
  • Sale Type Standard
  • Type ResidentialIncome
  • Sub Type Apartment
  • Built Year 1950

Property Description

A 20-unit apartment investment opportunity located in the highly desirable Playhouse District area of Pasadena, an eclectic cosmopolitan community rich in history and architecture. The property is right in the heart of Pasadena with short walking distance to multiple popular districts such as Old Town Pasadena and Lake Ave Business District. This location in Playhouse District of Pasadena provides a rare opportunity for investor to acquire a value-add apartment in an excellent and highly desirable location in Pasadena sub-market. It is a garden-style apartment community with ±14,815 sqft building size and situated on a large 30,367 sqft R3 lot with an excellent curb-appeal and neatly manicured landscaping. The property consists of 2 parcels (zoned R3), each parcel has a 10-unit apartment. The properties have a shared driveway and shared a laundry room with parking area in the back. There are 17 parking spaces that consist of 14 carports garages in the back and 3 open spaces on its sides. The property does NOT have any tuck-under parking and does NOT require any soft story retrofit. It is individually metered for electricity and gas. The property is in the highly desirable area of Pasadena – more specifically, in the renowned Pasadena Playhouse district situated south of the 210 Freeway. The area has excellent demographics of ±$115,000 average household income within a-mile radius!

Features & Utilities

  • Water Public
  • Sewer Public Sewer
  • Fireplace None
  • Pool None
  • Common Walls 2+ Common Walls
  • Community Suburban,Valley
  • Cooling Wall/Window Unit(s)
  • Driving Directions 2 blocks east of Lake Ave and south of FWY 210
  • Heating Wall Furnace,Natural Gas
  • Laundry Room Common Area
  • Lot Features 31-35 Units/Acre,Lot 20000-39999 Sqft
  • Carport Spaces 14.00
  • Uncovered Spaces 3.00
  • Operating Expense 123762.00
  • Parking Features Assigned
  • Stories Two
  • Utilities Cable Connected,Electricity Connected,Natural Gas Connected,Phone Connected,Sewer Connected,Water Connected
Courtesy of Listing : GIG Real Estate Inc., Handoko Chen

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