325 -327 1/2 Pasadena Avenue, South Pasadena, CA 91030
Fourplex
Sold December 2024
Listing Agent: Michael Onyemaobi (DRE #02179969) · Listing Office: Revel Real Estate · Contact: mikeonyemaobi@gmail.com · Bought with: Julia Zhao · Re/Max Elite Realty · MLS #SW24220453 · Source: CRMLS
About this fourplex
Pasadena Avenue presents an exceptional investment opportunity with a diverse mix of units, two of which will be delivered vacant, allowing for immediate rent increases or owner-occupancy options. The property features a total of four units, including a primary house at 327 Pasadena Avenue, a 2-bedroom, 2-bathroom unit spanning 1,535 sq. ft. and currently occupied. The remaining three units include: A front-facing 1-bedroom, 1-bathroom unit at 325 Pasadena Avenue (737 sq. ft.) A rear 1-bedroom, 1-bathroom unit at 325 ½ Pasadena Avenue (700 sq. ft.) A 1-bedroom, 1-bathroom unit at 327 ½ Pasadena Avenue (700 sq. ft.) This property is competitively priced, with projected rents based on market rates of $2.50 to $3.86 per sq. ft. The four-unit property has a total price of $1,950,000, reflecting a strong investment with potential for rental growth. When combined with the adjacent duplex, the total asking price for both properties is $3,200,000, offering a unique opportunity for future density development on a 0.56-acre lot with 150 feet of frontage. Given the SPR310000 zoning, there is significant potential for maximizing the unit count through entitlements and higher-density development.
Listing description from the December 2024 sale, as reported to CRMLS.
Sale history