INVESTMENT HIGHLIGHTS
- EXCELLENT LOCATION: across the street from Bristol Farms, Garfield Park and within walking distance to Fair Oaks Ave retail corridor, Mission Street Downtown District and minutes from Old Town Pasadena
- HIGH walk score of 86 out of 100 (“Very Walkable”)
- Superb Demographics: Average household income ±$153,141 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
- Excellent access to downtown Los Angeles via 110 Freeway
- Walking distance to restaurants, Metro Link Rail Station (Gold Line) and many amenities in the area
PROPERTY FEATURES
- Large units with good mix of 2-bedroom and 1-bedroom units
- Recent major capital improvements: upgraded electrical (each unit has 100amps power), new water-saving landscape with artificial turf, mostly upgraded units
- Six units have been upgraded with modern kitchen, in-unit laundry machines, new mini-split A/C systems; each unit has in-unit laundry (1 laundry machine belong to tenant)
- Units are enhanced with original hardwood floor, smooth ceilings, custom color paint, tiled kitchens, plenty of storage cabinets, and much more
- Separately metered for electricity and gas, individual water heater, a laundry room and carport parking
EXECUTIVE SUMMARY
Growth Investment Group Pasadena is proud to offer THE SANDS - 1728 Grevelia St., a pride-of-ownership 8-unit apartment in an excellent location in the City of South Pasadena, California. The property offers a superb & convenient location on Grevelia Street, crossing Fair Oaks Ave and just within walking distance to Fair Oaks Ave Retail corridor and Mission Street Downtown District. It has a Walk Score 86 out of 100, demonstrating a high “walkability” to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. It is also located within the South Pasadena School District with its superb demographics and an average household income of ±$153,141 within a mile radius.
The property is a serene two-story garden style apartment that was built in 1951. It has a total of 6,880 SF total building and situated on a ±9,211 square feet lot. It has a shared laundry room (seller own machines) and serviced by master water heater. Ownership have completed many important upgrades including major electrical upgrade for each unit from 30amps to 100amps power, new artificial turf in 2020, and six upgraded units. It has a shared laundry room (seller own machines) and is separately metered for electricity and gas with individual water heater in each unit. Parking is provided by 8 carport spaces in the back.
The property offers an excellent unit mix of two (2) spacious 2bed+1bath and six (6) large 1bed+1bath units. All units are large with plenty of natural light and windows. Each unit has an excellent layout with original hardwood floor, smooth ceiling, individual water heater, custom color paint in some units, plenty of storage cabinets, and much more. Six units have been completely upgraded with new kitchen, in-unit stacked laundry, new bathroom, new ductless mini-split A/C system, and much more. Due to its superb and convenient location and an excellent school district, the property enjoys very low vacancy rate.
LOCATION AMENITIES & ACCESS
The property is strategically situated on Grevelia Street crossing Fair Oaks Ave and within walking distance to the Mission Street Downtown District, Fair Oaks Avenue Retail District, restaurants, shopping, city hall and all amenities the City of South Pasadena has to offer. It also offers excellent access to downtown Los Angeles via 110 Freeway. Access to nearby amenities such as Old Town Pasadena, South Lake Avenue District, Pasadena Playhouse District, and Huntington Hospital are within minutes.