Active
60 El Nido AVE
PASADENA CA, 91107
$5,800,000
Active
2 Beds
3 Baths
Condo
Built in 1946
A HIGH CAP Rate and almost turnkey 12-unit + 3 ADUs garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. With CAP Rate Close to 5% in a Class-A Location, Single-story duplexes layout, and Arcadia adjacent location, this offering provides an extremely rare opportunity for investors to acquire a beautifully upgraded apartment in an excellent location in Pasadena. Six out of 12 units (50%) have been completely upgraded and provides new owners with immediate market rent without having to deal with tenant relocation and units upgrade process. The property is a beautiful asset with attractive four single-story duplexes and one two-story fourplex in the back. It is located in a mature and quiet residential neighborhood with superb access to many City of Pasadena and City of Arcadia have to offer. It is near Target shopping center, Hastings Ranch neighborhood in Pasadena and located close to City of Arcadia border with Santa Anita Mall just minutes away. The property was built in 1946 and underwent massive renovation in 2023-2024. It is situated on an oversized 20,570 SF lot size with medium density zoning RM-32 (32 units/Acre). It has excellent curb appeal with front drought tolerant landscaping, new wrought-iron gate and fencing, and many more upgrades. It offers an attractive unit mix of 8 x 1bedroom+1bathroom, 4 x Studio, and will be built 3 x New ADUs 1bedroom+1bathroom. Each unit is bright with an excellent layout. Six out of 12 units have been fully upgraded with high-end finishings such as brand-new flooring throughout, brand new kitchen with kitchen island complete with high-end cabinets and quartz countertops, brand new bathroom complete with tiled bathroom and new vanity cabinets, new mini-split HVAC system in living room and bedroom, and brand new almost everything. The upgraded unit comes with laundry machines. Four back units have large private balcony/patio. There is a large common area backyard in the back, complete with a large fruit producing Avocado tree. Parking is provided by 12 parking spaces where each of the 4 duplexes has 2 parking spaces in between the units (no shared wall between units). The remaining 4 parking spaces are in the back fourplex. Each unit has an individual water heater and separately metered for electricity and gas. The owner is in the process of obtaining final approval for 3 ADUs and the price includes the 3 ADUs built.
AR24082052MR
MLSⓇ ID
April 24, 2024
Listed
May 9, 2024
Updated
Map
60 El Nido AVE
PASADENA CA, 91107
Interior Features
Total Stories
2
Bedrooms
2
Total Bathrooms
3
Laundry Description
Community, Dryer, Dryer Included, Gas Dryer Hookup, Laundry Area, Washer, Washer Hookup, Washer Included
Fireplace
Yes
Fireplace Description
None
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.47 Acres
Architectual Style
Bungalow
Roof
Shingle
Sewer
Public Sewer
Other Property Details
Area Name
Pasadena SE
Days on Market
13
Garage
No
Parking
Assigned, Carport
Parking Total
12
View
Yes
View Description
Peek-A-Boo
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
PSR3
Listed by Han Chen with Growth Investment Group Pasade
Listing Contact: 626-224-2495
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©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 5/9/2024