Exclusive Listings

Hill Avenue Apartments

Address:
585 N. Hill Ave
Pasadena, CA 91106
Price:
$3,700,000
Status:
Sold
Type:
Apartment
# Units:
14
Year Built:
1963
Building Size:
12,769
Lot Size:
16,670
CAP Rate:
3.19
GRM:
17.80x
Price/Unit:
$264,285
Price/SqFt:
$290

SUMMARY

EXP Realty and Growth Investment Group are proud to present the Hill Avenue Apartments. An incredible investment opportunity located in beautiful Pasadena. This amazing 14 Unit garden style complex has been cared for by the current ownership since 1972, with quality improvements made in most units upon turnover. The property has secured entry and parking with an open grass common area. Small private patios and balconies for each unit- create a very cozy feeling on the property. The building boasts a solid unit mix of both townhomes and apartments with 3 Beds, 2 Beds, and 1 Bedroom, all individually metered for gas and electricity. Built in 1963, the building offers spacious units most of which have been meticulously renovated, including copper plumbing yet leaving the next owner approximately 35% rental upside. Some tenants are long term, and the asset has an onsite laundry room with parking for every unit. The property has been well cared for and is ready for the next owner to maximize the buildings potential. Hurry, this deal will move fast and fit perfectly in all size real estate portfolios!

Location, Amenities & Access:

Located in the highly desirable city of Pasadena on Hill Ave, the Hill Ave Apartments are within close proximity to the 210 Fwy, just south of Orange Grove. Perfectly situated, just minutes from Pasadena City College, CALTECH, Old town Pasadena, and the shops on Lake. The asset surrounded by the countless amenities that the city of Pasadena has to offer, along with numerous attractions some of which include The Rose Bowl, Norton Simon Museum, The Huntington Museum & Library, and the historic Playhouse District.



Highlights

• First time on the market in nearly 50 years!

• Spacious units that are all well maintained or renovated

• Great Unit Mix • Individually metered for Gas and Electricity

• Long term tenants with +/- 35% Rental upside

• Beautiful grounds with mature landscaping

• Secured entrance with gated parking

• All units have small patios or balconies, various units have spacious patios large enough for a small garden.

Marketing Files


Due Diligence


Broker Contact

Justin McCardle
Direct: (909) 486-2069
justin@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
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