Property Details
About this Property
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 sup
MLS Listing Information
MLS #
CRWS24184332
MLS Source
California Regional MLS
Days on Site
108
Interior Features
Laundry
Community Facility
Cooling
Window/Wall Unit
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Garage: 0 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 7 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1507 Bank St is a Residential Income in South Pasadena, CA 91030. This – square foot property sits on a 10,200 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $3,360,000 and was built in 1976. This address can also be written as 1507 Bank St, South Pasadena, CA 91030.
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This listing information is up-to-date as of December 20, 2024. For the most current information, please contact Jo Lin
