Description
ASSUMABLE FINANCING @ 3.15% INTEREST! 4.84% CAP ON CURRENT RENTS WITH VALUE-ADD RENTAL UPSIDE! FULL COPPER PLUMBING, FULLY UPDATED NEW ELECTRICAL SYSTEM, TANKLESS WATER HEARTERS, SOME UNITS REMODELED WITH W/D INSIDE, TWO NEW CONSTRUCTION ADU UNITS COMPLETE AND RENT READY (Easy to show). We are pleased to present 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 original property consists of Four 1 Bed + 1 bath units and Three studio + 1 bath units. The 2 NEW ADUs are one 2 Bed + 1 bath and one studio + 1 bath units and NOT subject to Pasadena city rent control laws. Given the location and style these apartments have a very strong history of renting quickly and at top rents. There is on-site parking for tenants. NO SOFT-STORY RETROFIT NEEDED. Separately metered for electricity and gas and each unit has their own water heater. 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.
Features
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