601 Meridian Avenue, South Pasadena, CA 91030
Property · 2 recorded sales since 2012
Sold April 2013
Listing Agent: Handoko Chen (DRE #01749321) · Listing Office: Lee & Associates Investment Se · Contact: 213-623-0800 · Bought with: Handoko Chen · Lee & Associates Investment Se · MLS #AR13030653 · Source: CRMLS
About this property
601 Meridian is a pride of ownership, Non-Rent Controlled multifamily property in the highly sought after City of South Pasadena. The property is unique due to its unbeatable location, many capital improvements, upgraded units, significant rental upside, and the amenities each unit offers. The property is located on a corner lot of Meridian St. and Grevelia St., and consists of 20 residential units plus one office unit in 2 separately parceled buildings. Both buildings were built in 1959, and are 2 stories with various capital improvements. It has undergone major capital improvements and upgrades in most units; all were completed in the past 5 years. It has a beautiful center courtyard with new immaculate landscaping and a water fountain. Entrances are secured by recently installed gated doors. The property is separately metered for electricity and gas with laundry facility available on-site. It boasts an excellent unit mix with four two-bedroom/one-bathroom units, sixteen one-bedroom/one-bathroom unit, and one office unit. Please note that CAP Rate and GRM Listed are PROFORMA.
Listing description from the April 2013 sale, as reported to CRMLS.
Sale history
