ANOTHER SOLD LISTING: 10-unit prime Partially Upgraded apartments in South Pasadena, Class A locations, Rental Upside, Long-time Owner

ANOTHER SOLD LISTING by GIG!
First Time SOLD Since 1976 (47 years)! 10-units near Downtown South Pasadena

714 Prospect Ave, South Pasadena, CA 91030

Class A Location, NO LOCAL RENT CONTROL, Excellent unit mix

GIG SOLD it ALL CASH to GIG's Buyer, GIG Represented both parties, Multiple Offers Received

Exclusively Listed for: $4,600,000
SOLD ALL CASH, AS-IS, smooth escrow, 4% CAP Rate

714 Prospect Ave, South Pasadena

PROPERTY HIGHLIGHTS

EXCEPTIONAL LOCATION: right off Mission Street Downtown District; walking distance to almost ALL amenities in the City of South Pasadena (shopping & dining, cafés, Metro Gold Line Station, City Hall, schools, South Pasadena Farmers Market, etc.)
Long-time owner for more than 30 years
SUPERB demographics: Average household income ±$140,474 within a mile radius
South Pasadena School District; NO LOCAL Rent Control (AB1482 Statewide)
Good rental upside potential, and No On-site manager is required
South Pasadena Downtown District, Minutes away from Old Town Pasadena and Rose Bowl
HIGH walk score of 89 out of 100 (“Very Walkable”)
Excellent access to downtown Los Angeles via 110 Freeway

INVESTMENT HIGHLIGHTS

Pride-of-Ownership, very well-maintained property with an excellent curb appeal
Excellent unit mix with large 2-bedroom and 1-bedroom units
Central A/C and heating in each unit, individual water heater and sizeable private patio(s)
Many recent capital improvements: new roof, copper plumbing, 4 new central A/C system, 8 units have been renovated and upgraded with dishwashers
Large and bright units with good layout and many windows
Separately metered for electricity and gas with laundry facility on site
Eight units have been upgraded with modern upgrades including new kitchen with dishwasher, new flooring and much more

Exclusively Listed for: $4,600,000