$6,370,000
Active MLS # AR24034803 | Listed by Han Chen with Growth Investment Group Pasade
Active MLS # AR24034803 | Listed by Han Chen with Growth Investment Group Pasade
435 N Wilson Avenue is a $6,370,000 home on a 0.40 acre lot located in Pasadena, CA.
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 façade, 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.
#Carport Spaces | 17.0 |
Appliances | Dryer Washer |
Interior Features | Vinyl Wood |
Fireplace Types | None |
Cooling Types | Wall Window Units Cooling - Yes |
Heating Types | Wall Furnace Heating - Yes |
# Parking Spaces | 17 |
Parking Types | Assigned Carport - Yes parking116 |
Exterior Features | East Wrought Iron None Close Of Escrow None Standard Cable Connected Electricity Connected Natural Gas Connected Phone Available Sewer Connected Water Connected Property Attached - Yes Rent Control - Yes Community Features - Valley Electric - Standard |
Views | None |
Construction Types | 2 Common Walls |
Land Type | Near Public Transit Rectangular Lot Street Level Lot Features - Value In Land |
Water Source | Public |
Sewer | Public Sewer |
Attribution Contact | 626-594-4900 |
Financial Terms | None 1031 Exchange Cash Electricity Gas financialterm335 |
Property Type | Residential Income |
Property Sub Type | Apartment |
Style | Two Full Service Updated Remodeled Architectureal Style - Mid Century Modern |
Year Built | 1960 |
HOA Fee | $0.00 |
Taxes | $0.00 |
County | los angeles |
Neighborhood |
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