Do not miss this exceptional opportunity to own an amazing triplex in the charming city of South Pasadena, located within close proximity to shops, restaurants and the local farmer's market. All three units are vacant, have in-unit washer and dryer hookups and offer fantastic character details throughout. The front Spanish duplex was built in 1924 and consists of one-bedroom and one-bathroom in each of the two units. They are both complemented by tons of vintage charm and feature bright living rooms with coved ceilings, French windows, spacious dining rooms with built-in cabinetry, period moldings and hardwood flooring. They share a private backyard, which includes a delightful patio area, offering additional space for entertainment and relaxation. The detached spacious two-bedroom home in the back features stunning character details. From the formal entry, there is a spectacular combined living room and dining area with a post and beam vaulted ceiling. There is a cozy fireplace and a wall of sliding glass doors that open to a private backyard. The kitchen has recessed lighting and a convenient breakfast bar. One of the two bedrooms features sliding glass doors that open to an oversized laundry room (which could make a great spot for a potential second bathroom). The second generously-sized bedroom features delightful built-in cabinetry. A full bathroom completes this exceptional unit. There are three one-car garages off the back-alley entrance and all three of the units have new roofs. There are also separate gas and electric meters for each unit. This property is a rare gem in a sought-after location, offering versatile living options for owner-occupants, multigenerational living, or investors seeking strong rental potential. Welcome home!
Courtesy: Coldwell Banker Realty
Courtesy: Summit Realty
1609 Raymond Hill Road offers an exceptional investment opportunity in prestigious South Pasadena. Rarely available, fully occupied rental income property with space to add additional dwellings via ADU laws. Current monthly rents are $11,540/month, $138,408/Year. Built in 1946 on the grounds of the Raymond Hotel, this 4 unit property consists of four, 2 bedroom, 1 bath apartments of approximately 950 square feet each. Built in an era of good quality apartment homes, the property was fully updated in 2004 with new roofs, central HVAC units for each of the four apartments, new plumbing and updates to the interiors. Bathrooms feature subway tile. All kitchens updated with granite countertops, stainless steel appliances. Bathrooms feature subway tile. Central entrance for all four apartments with two located on the main level and two upstairs The property attracts long term tenants who value amenities like in-home stackable laundry, fireplaces, hardwood floors, window nooks with seating, and very functional floorplans that are light and bright along with easy parking. Detached 4 car garage provides one space per tenant in addition, there are 4 more uncovered parking spaces on site. Triangular shaped parcel creates multiple yard spaces with large trees, sitting areas and room for tenants to host BBQ's. South Pasadena is well known for excellent schools, sense of community and great access to job centers in the region. This property abounds with quality and character while offering a savvy investor the opportunity to add value in a top quality rental market. One of the sellers is a licensed realtor.
Presenting a rare opportunity to acquire a 7-unit multifamily property, ideally situated in the heart of South Pasadena. This well-maintained asset comprises a diverse unit mix, including three 1-bedroom units, one 1-bedroom unit with a den, two 2-bedroom, 1-bathroom units, and a spacious 3-bedroom, 2-bathroom unit with a den. The two 2-bedroom and one 3-bedroom units were built in 1976. Together, these units offer approximately 5,166 square feet of rentable space on a generous 10,197 square foot lot. The property features a laundry facility, assigned covered parking spaces, and each unit is separately metered for gas and electricity. This property is being offered on the market for the first time in over 30 years, presenting a unique value-add opportunity with substantial rental upside. South Pasadena is not subject to local rent control, allowing for maximum allowable rent increases under California's AB1482 legislation. Additionally, there is potential to enhance rental income further through the addition of an accessory dwelling unit (ADU), subject to buyer. The property's prime location is a significant draw, being within walking distance to the highly ranked South Pasadena Senior High School and South Pasadena Middle School. Residents also enjoy close proximity to supermarkets, national retailers, restaurants, 110 freeway access, and the South Pasadena Metrolink Station. The area boasts exceptional demographics, with an average household income exceeding $140,000 and a median home value over $1 million within a 1-mile radius. This sought-after location provides investors with the prospect of acquiring a lucrative multifamily asset poised to generate substantial cash flow while offering a hedge against inflation in the thriving city of South Pasadena.
*****Amazing opportunity on market for first time in decades. ***** HUGE building--each unit over 1200 SqFt. Massive 4 car garage in rear provides a chance to add additional units. . All units 2 bedroom + 1 bathroom. One unit delivered vacant and remodeled to ready-to-rent condition. Buyer to verify all information, Listing Broker makes no representation as to the accuracy of information provided. Property available for viewing Noon-2:00pm on Sunday, August 4th. ALL OFFERS CONSIDERED NOW
South Pasadena is located in California. South Pasadena, California has a population of 26,837. South Pasadena is more family-centric than the surrounding county with 37.66% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in South Pasadena, California is $115,088. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in South Pasadena is 40.4 years.
The average high temperature in July is 87.2 degrees, with an average low temperature in January of 45 degrees. The average rainfall is approximately 18.9 inches per year, with 0 inches of snow per year.
