121 South Chester Avenue

Pasadena, CA 91106

$2,352,000
Last Sold Price
5
Beds
20
Baths
11,098 Sq. Ft.
$212 / Sq. Ft.
11,098
Sq. Ft.
$212
per Sq. Ft.

Description

Situated in the heart of Pasadena, CA, this 12-unit apartment building presents a value-add opportunity, for a patient investor, in one of the most sought-after locations in the city. Boasting a Walk Score of 93, you are near by Cal Tech, Pasadena City College and The Shops on Lake. Built in 1960, this two-story walk-up building is being marketed for the first time in over 40 years. Comprising a mix of 4 one-bedroom/one-bathroom units and 8 two-bedroom/one-and-three-quarter-bathroom units, this property...Situated in the heart of Pasadena, CA, this 12-unit apartment building presents a value-add opportunity, for a patient investor, in one of the most sought-after locations in the city. Boasting a Walk Score of 93, you are near by Cal Tech, Pasadena City College and The Shops on Lake. Built in 1960, this two-story walk-up building is being marketed for the first time in over 40 years. Comprising a mix of 4 one-bedroom/one-bathroom units and 8 two-bedroom/one-and-three-quarter-bathroom units, this property caters to a diverse range of tenants. Each unit features a balcony or patio (except for unit #1, which is the largest 1-bedroom unit), gas forced air heating, and wall air conditioning units. The kitchens are equipped with gas stoves and ovens, tiled countertops and tiled or linoleum floors, while the bathrooms have tiled or linoleum floors and vanities. Living rooms and bedrooms are carpeted. Although interiors have not been upgraded, there is immense potential for renovation and value enhancement. The property is individually metered for gas and electric, with the owner paying for hot water, gardening, trash, and common area electricity. Two 75-gallon hot water heaters serve the building, ensuring ample hot water supply for residents. Parking is provided with 17 tuck-under spaces located below the building; seismic retrofit will need to be done. Additionally, there is space available for a laundry room, offering an opportunity for added convenience and income generation.
  1. Listed by KEVIN LUTZ • DRE #00925595 • Brokerage DRE #01444805 • Keller Williams Realty/Pasadena • 626-429-0685
  2. Listed by KEVIN HURLEY • DRE #01237798 • Brokerage DRE #01444805 • Keller Williams Realty/Pasadena

Property Details for 121 South Chester Avenue

Parking Spaces Total
17
Private Pool
No
Cooling Type
Wall/Window
Total Units
12.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
11098
Assessor Parcel Number
5735-009-049
LISTING UPDATED: 08/27/2024 04:05 AM

Property Details for 121 South Chester Avenue

StatusClosed
MLS #WS24091810
Days on Market71
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
CountyLos Angeles County

Building Information for 121 South Chester Avenue

Building/Complex121 S Chester AveFloor-Stories2Residences-Pet Policy-Year Built1960Building Size-

Property Information for 121 South Chester Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $243,384
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $236,082
  • Net Operating Income: $133,505
  • Laundry Income: $0
  • Gross Multiplier: 12.74
  • Cap Rate: 431.0
  • Financing: Cash
Expense Details
  • Operating Expense: $102,578
  • New Taxes Expense: $34,339
  • Gardener Expense: $2,400
  • Fuel Expense: $4,717
  • Electric Expense: $2,456
  • Insurance Expense: $11,349
  • Maintenance Expense: $19,471
  • Professional Management Expense: $0
  • Other Expense: $7,960
  • Other Expense Description: OTHER
  • Trash Expense: $14,973
  • Water Sewer Expense: $4,913
  • Total Expenses: $102,578
Tax / Assessment Info
  • Tax Annual Amount: $34,339
  • Tax Block: 2
  • Tax Tract Number: s 5...
  • Tax Census Tract: 4635.00
  • CFD/Mello-Roos Fee: $2,752
  • Tax Lot: 11
Community / Development
Community / Development
  • Community Features: Gutters
Property / Structure Info
Interior Features
  • Appliances: Gas Oven
  • Equipment: None
  • Laundry: No
  • Laundry Features: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Forced Air
  • Heating: Forced Air
  • Heat Equipment: Forced Air Unit
  • Flooring: Carpet
Exterior Features
  • Entry Location: front door
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 17
  • Parking: Yes
  • Parking Garage: Subterranean
  • Parking Garage Spaces: 17
  • Carport Spaces: 0
  • Parking Features: Subterranean
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,548
  • Unit Type Total Rent: $6,193
  • Unit Type Pro Forma: 9200
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,747
  • Unit Type Total Rent: $8,735
  • Unit Type Pro Forma: 13500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,785
  • Unit Type Total Rent: $5,354
  • Unit Type Pro Forma: 7950
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 12
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number With Carpet: 12
  • Number With Patio: 11
  • Number Wall AC: 12

Property History for 121 South Chester Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 121 South Chester Avenue

Taxable ValueLand$52,128Additions$376,671Total$428,799
Tax Record2024$7,468 ($622 / month)
Home Facts
Total Finished SqFt11,098 SqFtAbove Grade Finished SqFt11,098 SqFtLot Size9,505 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningPSR4CountyLOS ANGELESAPN5735-009-049

Schools near 121 South Chester Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 6 to 12
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
McKinley School
PublicK to 8

Blair High School
Public6 to 12

Rose City High (Continuation) School
Public9 to 12

Marshall Fundamental School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty/Pasadena, KEVIN LUTZ, DRE #00925595; Keller Williams Realty/Pasadena, KEVIN HURLEY, DRE #01237798

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.