466 Cypress Avenue

    Pasadena, CA 91103
    • $2,150,000
    • STATUS: Active
    • ON SITE: 79 days
    • ID#: AR18285700
    UPDATED: 37 min ago
    $2,150,000
    • 0
      BEDS
    • 0.31
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,062
      SQFT
    • $425
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1944
    County:

    School Ratings & Info

    Description

    466-470 Cypress Ave. is a 7-unit, NON rent-controlled apartment community in the City of Pasadena, California. The property has 2 buildings where the front building consists of 5 units, and the back building consists of 2 units. Each unit is separately metered for electricity and gas (except for studio unit). The property is situated on a large lot size of +-13,678 square feet lot (high density zoning of RM-32) which provides buyer the options for future development. The sale includes a preliminary architect drawing for a 10-unit condominiums project. The property is located within walking distance to Old Town Pasadena and offers access to all amenities the City of Pasadena has to offer. Parking consists of 4 space carport in the back and 3 open space parking on the side of the lot. The property features a large front yard, a side garden area and an attractive curb appeal. It offers an attractive unit mix with one 3bed+2bath unit, one 3bed+1bath unit, three 2bed+1bath units, one 1bed+1bath unit, and one studio (non-conforming) unit. The non-conforming studio unit is on master meter for electricity, gas and water. Most of the units have been completely remodeled with laminate hardwood floor, granite kitchen countertops, new kitchen cabinets, and updated bathroom. The back building units plumbing have been upgraded to copper piping.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-23T20:39:27.957. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/89857672

    466 Cypress Avenue Pasadena, CA 91103

    • Price: $2,150,000
    • Status: Active
    • Updated: 37 min ago
    • ID#: AR18285700
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.31
    Acres
    5,062
    SQFT
    $425
    $/SQFT
    1944
    Built
    Neighborhood:
    645 - Pasadena (NW)
    County:
    Los Angeles
    Area:
    645 - Pasadena (NW)
    Property Description
    466-470 Cypress Ave. is a 7-unit, NON rent-controlled apartment community in the City of Pasadena, California. The property has 2 buildings where the front building consists of 5 units, and the back building consists of 2 units. Each unit is separately metered for electricity and gas (except for studio unit). The property is situated on a large lot size of +-13,678 square feet lot (high density zoning of RM-32) which provides buyer the options for future development. The sale includes a preliminary architect drawing for a 10-unit condominiums project. The property is located within walking distance to Old Town Pasadena and offers access to all amenities the City of Pasadena has to offer. Parking consists of 4 space carport in the back and 3 open space parking on the side of the lot. The property features a large front yard, a side garden area and an attractive curb appeal. It offers an attractive unit mix with one 3bed+2bath unit, one 3bed+1bath unit, three 2bed+1bath units, one 1bed+1bath unit, and one studio (non-conforming) unit. The non-conforming studio unit is on master meter for electricity, gas and water. Most of the units have been completely remodeled with laminate hardwood floor, granite kitchen countertops, new kitchen cabinets, and updated bathroom. The back building units plumbing have been upgraded to copper piping.
    Exterior Features

    Carport Spaces 4.00 Garage Spaces 0.00 Lot Features 36-40 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 10.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.25 Community Features Sidewalks Country Us Electric Expense 825.00 Elevation Units Feet Gardener Expense 1080.00 Gross Income 134400.00 Gross Multiplier 16.00 Gross Operating Income 130368.00 Gross Scheduled Income 134400.00 Insurance Expense 3300.00 Land Lease YN No Laundry YN Yes Maintenance Expense 1200.00 Net Operating Income 90615.00 New Construction YN No New Taxes Expense 27000.00 Number Of Separate Electric Meters 7 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Number Of Units Leased 7 Operating Expense 39753.00 Other Expense 1000.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasTelephone Total Actual Rent 132900.00 Total Expenses 39053.00 Trash Expense 2148.00 Water Sewer Expense 2500.00 Water Source Public Year Built Source Assessor Zoning Psr3

    Listing provided courtesy of Zeina Maalouf of Positive Investments


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-23T20:39:27.957. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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