121 S Chester Avenue, Pasadena, CA 91106
- $3,100,000
- List Price
- $3,100,000
- Status
- ACTIVE
- MLS#
- WS24091810
- Year Built
- 1960
- Lot Size
- 9,505
- Acres
- 0.22
- Lot Location
- Street Level
- Days on Market
- 12
- Property Type
- Multifamily
- Property Sub Type
- Apartment
Property Description
Situated in the heart of Pasadena, CA, this 12-unit apartment building presents a value-add opportunity, for a patient investor, in one of the most sought-after locations in the city. Boasting a Walk Score of 93, you are near by Cal Tech, Pasadena City College and The Shops on Lake. Built in 1960, this two-story walk-up building is being marketed for the first time in over 40 years. Comprising a mix of 4 one-bedroom/one-bathroom units and 8 two-bedroom/one-and-three-quarter-bathroom units, this property caters to a diverse range of tenants. Each unit features a balcony or patio (except for unit #1, which is the largest 1-bedroom unit), gas forced air heating, and wall air conditioning units. The kitchens are equipped with gas stoves and ovens, tiled countertops and tiled or linoleum floors, while the bathrooms have tiled or linoleum floors and vanities. Living rooms and bedrooms are carpeted. Although interiors have not been upgraded, there is immense potential for renovation and value enhancement. The property is individually metered for gas and electric, with the owner paying for hot water, gardening, trash, and common area electricity. Two 75-gallon hot water heaters serve the building, ensuring ample hot water supply for residents. Parking is provided with 17 tuck-under spaces located below the building; seismic retrofit will need to be done. Additionally, there is space available for a laundry room, offering an opportunity for added convenience and income generation.
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Additional Information
- Taxes
- $34,339
- Appliances
- Gas Oven
- Pool Description
- None
- Heat
- Forced Air
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Garage Spaces Total
- 17
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 12
- Gross Scheduled Income
- $243,384
- Operating Expense
- 102578
Listing courtesy of Listing Agent: KEVIN LUTZ (klutz@kwcommercial.com) from Listing Office: Keller Williams Realty/Pasadena.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.