517 East Washington Boulevard new Save Request In-Person Tour Request Virtual Tour
Pasadena,CA 91104
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 8,340 sqft
Price per Sqft $455
MLS Listing ID AR-25146336
Style Mid Century Modern
Year Built 1949
Lot Size 0.480 Acres
Property Sub-Type Apartment
Property Description
Pride-of-Ownership 10-unit (4 Houses & 2 Triplexes) on a large 21k SF R3 Zoned Lot, Excellent Unit Mix, Gated, Garage Parking, 1 House can be delivered vacant, 2 ADUs Upside. MONTANO VILLAS, a 10-unit garden style apartment investment opportunity located in the City of Pasadena, CA. This exceptional property comprises 4 bungalows/houses and 2 triplexes and is situated on a large ?20,911sf R3 lot. This value-add investment opportunity provides savvy investors with high-quality assets in a strong Pasadena submarket with significant rental upside potential and future expansion opportunities. The ownership had completed many significant capital improvements: Some of the major improvements are recently replaced roofs, new Central A/C and heating in each unit, new double pane windows throughout. An initial drawing for 2 ADU units would be included in the sale. MONTANO VILLAS is a pride-of-ownership attractive two-story garden style gated community that was built in 1949. It has a total of 8,340 SF building size and is situated on a ?20,911 SF R3 lot size. It offers excellent curb appeal with manicured landscaping. The property has 4 patio homes with a semi-private porch and side yard. The 4 patio homes are all 2 bedrooms+1bathroom units complete with laundry hookups. Each patio home has a tiled shower + bathtub. 1 house is vacant and can be delivered vacant. The remaining 6 units consist of four (4) 2bedroom+1bathroom, and two (2) 1bedroom+1bathroom units. Each unit has central A/C and heating (installed in 2009), double pane windows, original hardwood flooring, stove, and refrigerator. Each of the 4 patio homes have a dishwasher. Each unit has an individual water heater and separately metered for electricity and gas. The property has two shared laundry rooms (machines are seller owned) and a large storage room. Parking is provided by a combination of 9 parking garages (with storage spaces) and several open space parking. Most tenants in this community are long time tenants that are on month to month and are due for rent increases. An additional significant rental upside can be realized when units turn in the future. The property is several blocks north of Old Town Pasadena. It is located east of Los Robles Ave and west of El Molino Ave. It is near the Rose Bowl area (Rose Bowl Stadium, Rose Bowl Aquatics Center, Kidspace Children Museum, and Brookside Golf Course), and just located across from a local Washington Park.
Location
State CA
County Los Angeles
Area 645 - Pasadena Nw
Zoning PSR3
Interior
Heating Wall Furnace,Central
Flooring Carpet,Wood
Fireplaces Type None
Laundry Common Area,Community,Dryer Included,Gas Dryer Hookup,Washer Hookup,Washer Included
Exterior
Parking Features Assigned,Carport
Pool None
Community Features Suburban,Valley
Utilities Available Sewer Connected,Water Connected,Cable Connected,Electricity Connected,Natural Gas Connected,Phone Available
View Y/N Yes
View Mountain(s)
Building
Lot Description Landscaped,Lawn,Level with Street,Lot 20000-39999 Sqft,Near Public Transit,Rectangular Lot,Sprinkler System
Sewer Public Sewer