157 N Allen Avenue, Pasadena, CA 91106

$1,770,000
Sold Price
$1,770,000
List Price
$1,948,000
Closing Date
Nov 21, 2017
Status
CLOSED
MLS#
CV17229725
Year Built
1961
Lot Size
7,797
Lot Location
2-5 Units/Acre
Days on Market
47
Property Type
Multifamily
Stories
Two Level

Property Description

We are proud to offer this rare opportunity of a highly desirable income property located at 157 North Allen Avenue, Pasadena, California. This well-maintained property is situated at the healthiest and most attractive submarket of the San Gabriel Valley. It is a true pride-of-ownership estate. Built in 1961, the property consists of one large two bedroom/one-and-a-half bathroom townhouse unit in the front and six studio units in the back. The property is situated on a 7,840 square feet lot with total rentable space of 3,965 square feet. Selected units have been upgraded with wood flooring and have gone through bathroom renovations. Amenities include covered carport parking, extra storage units, and on-site laundry access. Each unit is separately metered for gas and electricity. Several units are currently occupied with long term tenants; therefore, potential upside on overall rent is more than 25 percent. The property is within walking distance or short drive to the Pasadena City College, California Institute of Technology, The Huntington Library, and Old Town Pasadena. The city of Pasadena is well known for its historical heritage and fine dining venues. It is bordered by the affluent city of San Marino and Sierra Madre. The median household income is $70,845. Recent developments in the city of Pasadena have turned the town into the most revitalizing and coveted city in the San Gabriel Valley.

Additional Information

Tract Number
462700
Lot Description
Curbs
Pool Description
None
Water
Public
Attached Structure
Attached

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of EDWARD PAN from MARCUS & MILLICHAP

Listing courtesy of EDWARD PAN from MARCUS & MILLICHAP

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.