9 UNITS | PASADENA
$3,400,000

4.8% CAP RATE ON CURRENT RENTS and EXCELLENT LOCATION!!  We are pleased to present for sale this 9-unit property in one of the best rental areas of Pasadena.  The Playhouse Village area boasts as a WALKER’S PARADISE with its close proximity to restaurants, retail and S. Lake Ave.  The property features remodeled interiors, FULL copper plumbing, updated electrical system, some newer windows, dishwashers, tankless water heaters, stainless steel appliances with some units having W/D machines inside.   The original property consists of Four 1 Bed + 1 bath units and Three studio + 1 bath units.  Two permitted ADUs were constructed that consist of one 2 Bed + 1 bath and one studio + 1 bath units.  The interiors were updated with thought to preserve some of the original feel and charm of the property, while offering modern comfort and amenities for tenants. Given the location and style these apartments have a very strong history of renting quickly and at top rents.  There are currently five on-site, parking spaces with the possibility to configure for more.  NO SOFT-STORY RETROFIT NEEDED.  Separately metered for electricity and gas and each unit has their own water heater.  ATTRACTIVE ASSUMABLE FINANCING AT 3.15% INTEREST.  This can be purchase separately or together with the next door, 6 unit property at 142 S. El Molino Ave., MLS# 24-413263.   A rare offering for one or two properties that have been well updated and meticulously managed by the ownership.  PLEASE DO NOT DISTURB THE TENANTS.