Under contract
Active Under Contract
325 -327 1/2 Pasadena Avenue
South Pasadena CA, 91030
$1,950,000
$531.05 per sqft
Under contract
Active Under Contract
5 Beds
5 Baths
3,672 sqft
Multi-family
Built in 1930
Listed by Michael Onyemaobi with Revel Real Estate [email protected]
Pasadena Avenue presents an exceptional investment opportunity with a diverse mix of units, two of which will be delivered vacant, allowing for immediate rent increases or owner-occupancy options. The property features a total of four units, including a primary house at 327 Pasadena Avenue, a 2-bedroom, 2-bathroom unit spanning 1,535 sq. ft. and currently occupied. The remaining three units include:
A front-facing 1-bedroom, 1-bathroom unit at 325 Pasadena Avenue (737 sq. ft.)
A rear 1-bedroom, 1-bathroom unit at 325 1/2 Pasadena Avenue (700 sq. ft.)
A 1-bedroom, 1-bathroom unit at 327 1/2 Pasadena Avenue (700 sq. ft.)
This property is competitively priced, with projected rents based on market rates of $2.50 to $3.86 per sq. ft. The four-unit property has a total price of $1,950,000, reflecting a strong investment with potential for rental growth.
When combined with the adjacent duplex, the total asking price for both properties is $3,200,000, offering a unique opportunity for future density development on a 0.56-acre lot with 150 feet of frontage. Given the SPR310000 zoning, there is significant potential for maximizing the unit count through entitlements and higher-density development.
SW24220453
MLSⓇ ID
November 8, 2024
Listed
December 21, 2024
Updated
Map
325 -327 1/2 Pasadena Avenue
South Pasadena CA, 91030
Interior Features
Total Stories
1
Bedrooms
5
Total Bathrooms
5
Full Bathrooms
5
Laundry Description
Inside
Fireplace
No
Fireplace Description
None
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
No
Exterior/Building Features
Lot Size
0.4 Acres
Lot Features
2-5 Units/Acre
Sewer
Public Sewer
School Information
School District
South Pasadena
Other Property Details
Area Name
658 - So. Pasadena
Days on Market
43
Garage
No
Parking Total
0
View
Yes
View Description
Neighborhood, Trees/Woods
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
SPR310000*
Listing History
Date | Event | Price |
|---|---|---|
11/22/2024 | Under contract | — |
Listing Contact: 310-717-5522
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/21/2024. 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.
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Data last updated on 12/21/2024 at 1:48 PM UTC