679 Earlham St - Apartments FOR SALE


Pasadena, CA 91101
$2,380,000 USD
949-756-3232
679 Earlham St, Pasadena, CA for Sale
$2,380,000 USD
Apartments - FOR SALE
1/9
null | 5.94% Cap Rate

679 Earlham St
Pasadena, CA 91101


HIGHLIGHTS

  • First Time on the Market in Over 16 Years
  • Desirable Unit Mix Consisting of Spacious 1, 2, and 3-Bedroom Units
  • High In-Place Cap Rate of 5.9%, 7.9% with Market Rents
  • Value-Add Opportunity with Approximately 22% Upside

OVERVIEW

We are pleased to present Earlham Apartments, an excellent value-add, 8-unit apartment complex in Pasadena, CA. The property offers a desirable unit mix of spacious 1, 2, and 3-Bedroom units with amenities such as laminate wood flooring, stainless steel sinks, quartz countertops, electric stoves, and upgraded bathrooms. The apartment building is a gated community on a palm tree lined road and features covered parking spaces, one garage, individual gas and electric meters, copper plumbing, and a shared laundry facility. The property offers an investor the opportunity to acquire a value-add property with 22% upside, generating a 5.9% cap rate with current rents, 7.9% with market rents.

FOR SALE DETAILS

PRICE

$2,380,000 USD

PRICE/SF

$378 USD /SF

# OF UNITS

8

PRICE/UNIT

$297,500

CAP RATE

5.94%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,779 SF

ZONING

RM12, Pasadena

APN/PARCEL ID

5731-014-006

ASK ABOUT THIS PROPERTY

Ryan LoriaTriqor GroupMore Info
949-756-3232

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Ryan LoriaTriqor GroupMore Info
949-756-3232

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.