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Listed by Ryan Loria • Triqor Group
$ 2,380,000
Est. payment | /mo
9,778 Sqft Lot
$ 2,380,000
Est. payment | /mo
9,778 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW24155824
Originating Board California Regional MLS
Year Built 1965
Lot Size 9,778 Sqft
Property Description
We are pleased to present Earlham Apartments, an excellent value-add, 8-unit apartment complex in Pasadena, CA. The property offers a desirable unit mix of spacious 1, 2, and 3-Bedroom units with amenities such as laminate wood flooring, stainless steel sinks, quartz countertops, electric stoves, and upgraded bathrooms. The apartment building is a gated community on a palm tree lined road and features covered parking spaces, one garage, individual gas and electric meters, copper plumbing, and a shared laundry facility. The property offers an investor the opportunity to acquire a value-add property with an approximate 20% upside, generating a 6.2% cap rate with current rents, 7.7% with market rents.
Location
State CA
County Los Angeles
Area 646 - Pasadena (Ne)
Interior
Laundry Laundry Area
Exterior
Garage Spaces 11.0
Pool None
Building
Water District - Public
Others
Tax ID 5731014006
Special Listing Condition Not Applicable
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Tim Alford & Faye Bon
REALTOR® | Lic# 01507448 | 01746037