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638 N Mar Vista AvenuePasadena, CA 91106Sale Price: $2,400,000

  • Sale Price: $2,400,000
  • 8 Days Since Sale
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Federal 30-year interest rate: 3.05% last updated on Oct 14, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $2,400,000List Price
  • 0.38Acreage

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Listed by Handoko Chen of GIG Real Estate Inc.

Listing Sold by RE/MAX PREMIER/SANMARINO
6-unit single story Bungalow style apartment investment opportunity located in the City of Pasadena, CA. The property is unique due to its beautiful single story bungalow style layout and its excellent location just a block from “Bungalow Heaven” area. It offers ALL large 2Bedroom+1bathroom units. It is conveniently located within a mile from Old Town Pasadena, and just several blocks away from Lake Avenue and Pasadena City College. The property has been in the same ownership for more than a decade! The 6 units are spread out in five single story bungalows with attractive landscaping. It has a total of ±5,230SF living space on a large R3 ±16,466 square foot lot. It offers an excellent unit mix of ALL 2bedroom+1bathroom – each unit is averaging ±870SF in size. Each unit has an excellent layout with living room, separate dining room, original hardwood floors, custom paint colors, extensive crown moldings, wall panels, windows A/C, tiled kitchen flooring and tiled bathroom, and ceiling fans in bedrooms. Each unit has washer/dryer hookups (laundry machines were provided for some units). The property is listed under national register of historic places. Each unit is separately metered for gas and electric and the property has copper plumbing and updated electrical wiring (completed more than a decade ago). The exterior was recently painted. Parking is provided by 2 detached car garages in the back – each unit gets 1 garage parking space; zero soft story retrofit required. All tenants except 1 in this community are long time tenants that are on month to month and are due for rent increases (AB1482 – 5%+CPI). Additional significant rental upside can be realized when units turn in the future. The property is located just a block away from Lake Ave and within walking distance to myriad of shopping and other amenities on Lake Ave and Colorado Blvd. It is within minutes from Old Town Pasadena, Rose Bowl, The Paseo on Colorado, museums, theaters, entertainments, groceries, cafes, shops, and other fantastic amenities in Pasadena. It has an excellent demographics of $103,130 average household income within a 1-mile radius. The property has superb access to FWY 210 and 110 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is minutes away from FWY 110 that connect to Downtown Los Angeles.

Property Details of 638 N Mar Vista Avenue

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 "Based on information submitted to CA_CRMLS as of October 21, 2021 7:54 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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