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714 Prospect Avenue, South Pasadena, CA 91030

$4,600,000
0.28 lot
Est payment $24693.79/mo

1 / 36

Multi-Family in South Pasadena

714 Prospect Ave, a pride-of-ownership 10-unit apartment in one of the best locations in the City of South Pasadena, California. The property offers a superb location on Prospect Ave in the Mission Street Downtown District, and within walking distance to almost all the amenities city of South Pasadena has to offer. The property has been in the same ownership for more than 30 years and this is the first time it has been offered for sale.It offers an exceptional location on a quiet and mature residential street on Prospect Ave and crossing Mission Street where most of the retail stores are located. A block from Metro Gold Line Station on Meridian St, and from weekly South Pasadena Farmers Market, and within walking distance all these amenities and restaurants: South Pasadena City Hall & Police Department, Trader’s Joe, Nicole’s Market & CafÃ©, Fair Oaks Pharmacy, Mike & Anne’s Restaurant, Jones Coffee, South Pasadena Historical Museum, and so much more. It has a Walk Score 89 out of 100. It is also located within the South Pasadena School District with its superb demographics and an average household income of Â±$140,474 within a mile radius. The property offers a pride of ownership and an excellent curb appeal atmosphere. It is a two-story garden style apartment that was built in 1963 with beautiful landscaping. It has a total of 9,704 SF total building and situated on a Â±11,994 square feet lot. Ownership have completed many important upgrades including NEW roof in 2020, copper plumbing (buyer to verify), new artificial turf in 2020, 4 new A/C units. It has a shared laundry room (seller own machines) and is separately metered for electricity and gas with individual water heater in each unit. Parking is provided by 15 carport spaces in the back. The property offers an excellent unit mix of four (4) spacious 2bed+1-3/4bath and six (6) large 1bed+1bath units. Each unit has central A/C and heating and individual water heater (4 units have new A/C). Approximatel

Courtesy Of Han Chen, DRE#01749321, Growth Investment Group Pasade

0.28 Lot

Main Features

Listing Status: Contract Pending
Year Built: 1963
Floors: 2
County: Los Angeles
Units: 10
Zoning: SPR210000*
MLS Number:AR23019187

Additional Features

Cooling:
- CentralAir
Laundry:
- CommonArea
Fireplace:
- N
- None
Building Square Feet:
- 9704
Common Walls:
- Item2CommonWalls
Garage:
- N
Levels:
- Two
New Construction:
- N
Property Subtype:
- Apartment
View:
- N
- None
Year Built Source:
- Assessor
Lot Description:
- NearPublicTransit
- RectangularLot
- StreetLevel
Pool:
- None
Spa:
- None
Spa YN:
- false
Carport:
- Y
Carport Spaces:
- 15
Parking:
- Carport
Heating:
- Central
Sewer:
- PublicSewer
Utilities:
- CableAvailable
- ElectricityConnected
- NaturalGasConnected
- PhoneAvailable
- SewerConnected
- WaterConnected
Community Features:
- Suburban
- Valley
Number of Buildings:
- 1
Water:
- Public
Financing:
- Conventional
Gross Income:
- 259320
Net Operating Income:
- 178820
Terms:
- Cash
- CashtoNewLoan
CDOM:
- 46
HOA:
- N
Special Conditions:
- Standard
Tenant Pays:
- Electricity
- Gas
Annual Trash Expense:
- 1865
Cap Rate:
- 3.89
DOM:
- 46
Electric Exp:
- 2364
Fuel Exp:
- 1243
Gross Scheduled Income:
- 259320
Insurance Expense:
- 3000
Listing Service:
- FullService
Listing Type:
- ExclusiveRightToSell
Listing Key:
- 1033106502
Operating Expense:
- 75313
Parcel Number:
- 5315017007
Possession:
- CloseOfEscrow
Public Document Count:
- 1
Virtual Tour:
- http://growthinvestmentgroup.com/listingdetail.aspx?pid=10386
Water Sewer Exp:
- 3739

Price
Term
Interest Rate

Estimated Monthly Payment: $38,769.95*

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Search Nearby Homes

714 Prospect Avenue South Pasadena, CA 91030

$4,600,000
0.28 lot
Est payment $24693.79/mo