0.43 Acres Lot
0.43 Acres Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25202676
Construction Status Repairs Cosmetic
HOA Y/N No
Year Built 1954
Lot Size 0.429 Acres
Property Sub-Type Apartment
Property Description
VILLA CATALINA - 530-540 N Catalina Ave, a 12-unit value-add apartment in a highly desirable location in the City of Pasadena, CA. These 2 properties have been very well maintained by current family who have owned it since 1984. The properties are located on a quiet residential street on Catalina Ave crossing Villa St, and only minutes away from most of City of Pasadena amenities such as Old Town Pasadena, Lake Ave Shopping District, Rose Bowl area, CALTECH and PCC. It is surrounded by other small apartments and single-family houses and has excellent demographics of ±$120,347 average household income in a 1-mile radius.
The properties consist of six-unit apartments each (530 and #540) making up the total of 12 units. They were built in 1953 and 1954, have a total building size of 7882 SF and sits on a large 18,683 SF total lot size (R3 zone – medium high-density). The property offers excellent curb appeal with well-manicured front lawn and center courtyard area. The front half of each property is a single-story layout (total 4 units) and the back half are 2 story apartments (total 8 units).
The unit mix is easy to manage and rent with all 1bedroom unit. Each unit is spacious and bright with an average unit size of 788SF (buyer to verify). Two front units have semi-private patio area. The ground floor units have original hardwood flooring, while 2nd floor units have carpet flooring. Each unit has through the wall A/C in living room and bedroom, ceiling fans, tiled kitchen, and tiled bathroom. All tenants are on month-to-month lease and current income is approximately 31% below market.
Each unit is separately metered for electricity and gas. Parking is provided by 12 carport spaces at the back (1 for each unit). There is no parking soft story retrofit required. Building is serviced by a shared laundry room (leased machines). The large lot size, R3 zoning (medium high density) and carport parking provide superb opportunity for new owner to add ADUs units in the back.
The property is located just two blocks away from Lake Ave and within walking distance to myriads of shopping and other amenities on Lake Ave and Colorado Blvd. It has an excellent demographics of $120,347 AHH income within a 1-mile radius.
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Zoning PSR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Vinyl, Wood
Fireplaces Type None
Fireplace No
Appliance Gas Range
Laundry Common Area
Exterior
Parking Features Assigned, Detached Carport
Carport Spaces 12
Fence None
Pool None
Community Features Suburban, Valley
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Asbestos Shingle
Accessibility None
Total Parking Spaces 12
Private Pool No
Building
Lot Description Lawn, Landscaped, Level, Near Public Transit, Rectangular Lot, Street Level
Faces West
Story 2
Entry Level Two,One
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Ranch
Level or Stories Two, One
New Construction No
Construction Status Repairs Cosmetic
Others
Senior Community No
Tax ID 5732012045
Security Features Carbon Monoxide Detector(s),Fire Detection System,Smoke Detector(s)
Energy Description 600.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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