59 S Meridith Ave - Apartments FOR SALE


Pasadena, CA 91106
$3,300,000 USD
626-888-2995
59 S Meridith Ave, Pasadena, CA for Sale
$3,300,000 USD
Apartments - FOR SALE
1/31
null | 4.77% Cap Rate

59 S Meridith Ave
Pasadena, CA 91106


HIGHLIGHTS

  • Walking distance (1 block away) from Pasadena City College (PCC)!
  • 4 units are currently vacant and used as short-term rental (Airbnb).
  • Airbnb business will also be included in the sale (135 reviews at 4.92 rating with “Guest Favorite” award).

OVERVIEW

7 Unit Apartment building in Pasadena, CA located walking distance (1 block away) from Pasadena City College (PCC). 4 units are currently vacant and used as short-term rental (Airbnb). Airbnb business will also be included in the sale (135 reviews at 4.92 rating with “Guest Favorite” award). Unit mix: 2 x (2B+1B) and 5 x (1B+1B). Laundry room on site with 1 coin operated washer and 1 coin operated dryer (both units owned and included with the sale). New rain gutters recently installed, new facia, new paint, new windows, new plumbing, new electrical panels (3 out of 7 units), drainage updated, 2 new water heaters, refurbished roof (less than 3 years ago). 7 covered parking spots on site (all carports). Excellent location with walk score of 87 and bike score of 75. Most errands can be accomplished on foot and biking is convenient on most trips. Less than 1 mile away from California Institute of Technology (Caltech), 1.1 miles away from Huntington Library, 2 miles away from Pasadena Convention Center and 4.5 miles away from Rose Bowl.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$666 USD /SF

# OF UNITS

7

PRICE/UNIT

$471,429

CAP RATE

4.77%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,950 SF

ZONING

RM32, Pasadena

APN/PARCEL ID

5736-024-007

ASK ABOUT THIS PROPERTY

Donald LaKW CommercialMore Info
626-888-2995

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Donald LaKW CommercialMore Info
626-888-2995

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