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$ 2,758,000
Est. payment | /mo
6 Beds
4 Baths
0.28 Acres Lot
$ 2,758,000
Est. payment | /mo
6 Beds
4 Baths
0.28 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26196810
Bedrooms 6
Lot Size 0.283 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Extremely Rare 7-unit on Master Net Lease Structure MINIMUM Landlord Responsibility, Prime Location several blocks from CALTECH and PCC, HIGH 7.13% In-place CAP Rate, Major Systems Completely Upgraded, RM-48 Zone, Approved Plan for 1 ADU is included. 146-154 N Holliston Ave, an impeccably maintained 7-unit multifamily community located in the highly desirable central Pasadena market. Strategically situated just blocks from CALTECH and Pasadena City College, this property represents a premier passive income vehicle. The asset is securely master leased to The Gooden Center (a well-known healthcare operator has been in the business for 50-year in the area) under a Single Tenant Net Lease structure, shielding the owner from standard operational headaches. Because the tenant is responsible for insurance, all utilities and almost all maintenance (up to the first $3,000), landlord management responsibilities are kept to an absolute minimum. Coupled with an in-place CAP rate of 7.13%, this offering provides highly attractive positive leverage and outstanding yield for a Class-A location in the West San Gabriel Valley. The property is situated in a quiet residential area and offers a high Walk Score of 92 and Bike Score of 88. It is situated in a highly affluent area with an average household income of $141,687 within a 1-mile radius. It offers many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd. Built in 1922, the 5,443 SF property rests on a spacious 12,313 SF RM-48 zoned lot. It offers a highly desirable l
Location
State CA
County Los Angeles
Zoning Assessor
Direction south of walnut st, south of 210 fwy, between Hill Ave and Lake Ave. East side of Holliston Ave.
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5738009047
Acceptable Financing Cash
Listing Terms Cash
Listed by Handoko Chen, DRE#01749321 Growth Investment Group Pasade
Nearby Locations
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Johnny Fitzmaurice