REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Wed

Jul

Thu

Jul

Fri

Jul

Nicole Van Parys & Gary Nesen

nicole.vanparys@engelvoelkers.com +1(805) 795-1880

Listed by Han Chen • Growth Investment Group Pasade

$ 3,800,000

Est. payment -/mo

Save

New

517 East Washington Boulevard Pasadena, CA 91104

8,340 SqFt

UPDATED:

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

Nicole Van Parys & Gary Nesen

License Partners, Private Office Advisors | License ID: 01108944

+1(805) 795-1880

Nicole Van Parys & Gary Nesen

517 East Washington Boulevard Pasadena, CA 91104

Key Details

Location

Interior

Exterior

Building

GET MORE INFORMATION

Go tour this home

517 East Washington Boulevard