INVESTMENT HIGHLIGHTS
- SUPERB location in South Pasadena with an average household income of ±$141,905 within a mile radius
- Convenient access to Fair Oaks Ave, walk to the historic THE Raymond restaurant, South Pasadena Downtown area
- South Pasadena School District – Considered as one of the best public-school system in the State of California
- High barriers to entry submarket with very limited inventory and high demand for apartments for sale; High rent growth and low vacancy rate area
- Minutes away to Old Town Pasadena, Huntington Hospital, and FWY 210
- Excellent access to FWY 110 for access other areas of Los Angeles
- Easy to manage and easy to rent property
- Individual garage parking for each unit.
PROPERTY FEATURES
- Charming 4-unit with excellent curb appeal on a quiet cul-de-sac street
- Large and bright units with good layout
- Zen/Japanese Garden like backyard landscaping complete with bamboo hedge fence
- Each unit is separately metered for electricity and gas, detached car garage space for each unit, laundry room
- 2 units have recently replaced water heater, 1 unit has been upgraded
- Substantial potential rental upside with interior renovation
- Yard renovation potential
EXECUTIVE SUMMARY
The Growth Investment Group is proud to offer 175 Mockingbird Ln, a charming 4-unit apartment community in the highly desirable area of the City of South Pasadena, California. This offering presents a rare opportunity for an investor/owner-user to acquire a very well-located apartment community in one of the most sought-after sub-market in the West San Gabriel Valley. The management and maintenance of this property is minimum, and the superb location provides an easy to rent unit for any future vacancy.
The property is located within the award-winning South Pasadena school district which considered as one of the best in the State of California. It has an easy access to Fair Oaks Ave retail corridor and Mission Street Downtown District. It enjoys an excellent access to all amenities the City of South Pasadena has to offer and has a superb demographics with an average household income of ±$141,905 within a mile radius.
The property is a two-story garden style apartment that was built in 1946. It has a total of ±3,026 SF building area and situated on a ±7,721 SF lot. It offers a good unit mix of all 1-bed+ 1-bath units. Each unit is large and bright with an attractive layout and many windows. The estimated size of each unit is around ±750SF. Each unit has a sizable living room, dining area, fireplace, windows A/C, wall heater, ceiling fans, tiled bathroom and kitchen, and backdoor to access the beautiful and serene backyard (complete with bamboo hedge fence). The property is separately metered for electricity and gas and has shared laundry room (leased). Parking is provided by a detached 4 car garage.
LOCATION AMENITIES & ACCESS
The property is situated on a quiet cul-de-sac street neighboring city’s lot that can be used as pet walking area. It has superb access to Fair Oaks Ave and just walking distance to THE RAYMOND restaurant in Pasadena side, South Pasadena Downtown district, Huntington Hospital and just minutes away from Old Town Pasadena. It is several blocks away from FWY 110 entrance on Fair Oaks Ave and located within minutes from South Pasadena Metro Link Rail Station, FWY 210, and other amenities in San Gabriel Valley area.