1349 North Hill Avenue

1349 North Hill Avenue

1349 N Hill Ave
Pasadena, CA 91104

$18,000,000
Last Sold Price
12
Beds
12
Baths
34,202 Sq. Ft.
$526 / Sq. Ft.
34,202
Sq. Ft.
$526
per Sq. Ft.

Sold 12/10/21

Virtual Tour

Sold 12/10/21

Virtual Tour

a bathroom with a sink and a mirror
a view of outdoor space
an aerial view of a residential apartment building with swimming pool
an aerial view of residential houses with outdoor space
a front view of a building with street
front view of a house with a tree
front view of a brick building with a small yard
a view of a building the side of street
a view of a brick building that has a sign on it
a view of a building on a street
a view of a house with a street
a view of street with sitting area
a car parked in front of a building
a view of a parked cars in front of a building
a car parked in front of a building
a car parked in front of a house
a view of a patio with table and chairs potted plants
a large white building with a view of a city street
an aerial view of a multi story parking building
a view of city with tall buildings
a view of a city that has lawn chairs and a table
a picture of city view
a picture of car parked in city
a picture of city view
a view of a city from a terrace
view of building with outdoor space
an aerial view of multiple house
a view of a street with sitting area
a view of street with shops
a view of building with a street
a front view of a building with a garden and plants
a front view of a house with a garden
a front view of a building with a palm tree
a view of a street with a building in the background
a front view of building with cars
a view of a city street from a building
a view of a street with houses
a front view of a building with street view
a view of a street with cars
a front view of a building with street
a front view of a building with street
a view of a city street both side of house
a view of a cars parked in front of a building
a couple of cars parked in front of a building

Description

We are pleased to exclusively represent this once in a generation opportunity to acquire The Shops on Hill, two fully occupied mixed-use signalized corner properties with ample parking in beautiful and historic Pasadena, California. This 100% occupied portfolio totals over 34,000 SF of mixed use retail and apartments offering a 5.2% In-Place Cap. A cultural center of the San Gabriel Valley, Pasadena is home to the famed Rose Bowl, Caltech, Pasadena Playhouse, Norton Simon Museum, Millionaires Row,...We are pleased to exclusively represent this once in a generation opportunity to acquire The Shops on Hill, two fully occupied mixed-use signalized corner properties with ample parking in beautiful and historic Pasadena, California. This 100% occupied portfolio totals over 34,000 SF of mixed use retail and apartments offering a 5.2% In-Place Cap. A cultural center of the San Gabriel Valley, Pasadena is home to the famed Rose Bowl, Caltech, Pasadena Playhouse, Norton Simon Museum, Millionaires Row, and the Jet Propulsion Laboratory. Pasadena is also proud to house the just announced GM Advance Design Center, a $71 million 8-acre design and technology campus situated just 3 miles away, slated to open mid-2022. The Shops on Hill features two buildings on opposite corners of the intersection of East Washington Boulevard and North Hill Avenue that total 34,202 square feet of retail and residential space on a combined lot area of more than 1.4 acres of land. The larger, North property located at 1383-1399 E. Washington Blvd. and 1349-1365 N. Hill Avenue is a corner signalized property at the intersection of E. Washington Blvd. and N. Hill Ave. The North property includes a surface parking lot of 50 spaces and is a 24,691 SF two-story structure. There are 14 ground-level retail tenants and a second story which consists of 12 residential apartments, all of which have been renovated and re-leased in the last few years. Total lot size of the North Property is 37,805 square feet, which includes a surface parking lot for 50 cars. Opposite the North Property, the South property is located at 1384-1400 E. Washington Blvd. at the corner of E. Washington Blvd. and N. Hill Ave. This one-story multi-tenant commercial structure is 9,511 SF in size with four commercial retail tenants, situated on a lot that is 13,173 square feet. A parking lot of 32 spaces sits adjacent to the south property structure, which is included in the sale and has its own address known as 1366 E. Washington Boulevard, totals an additional 10,866 SF. Shops on Hill, which resembles the surrounding neighborhoods unique historical architecture, benefits from the surrounding demographics and it provides a highly curated, local shopping experience for neighbor residents and is a regional draw for shoppers looking for bespoke stores and services. Shops on Hill provides a unique opportunity to acquire two corners at a pivotal Southern California intersection. With its beautiful, vintage brick facade architecture and amazing curb appeal, Shops on Hill has unparalleled visibility to the street and the city of Pasadena. Amid all the shifting uncertainties and changing priorities of the past pandemic year for greater Los Angeles' restaurant industry, one glowing bright spot has emerged: Pasadena. The standalone city northeast of Downtown, at the edge of the broad San Gabriel Valley, has quietly become one of the busiest dining scenes anywhere in Southern California. Median home prices for the surrounding neighborhood Bungalow Heaven now tops over $1,100,000 and the average household income is nearly $120,000 per year, making for an exceptionally strong consumer base for the offering. The Shops on Hill is truly a once in a generation opportunity for a private or individual investor looking for a solid, stable in-place 5.2% return with the opportunity to raise rents over time and reach a proforma cap rate of nearly 6.8%.
  1. Listed by Dana Brody • DRE #01429001 • Brokerage DRE #01429001 • Dana Brody

Property Details for 1349 North Hill Avenue

Zoning
PSC-
Parcel Number
5850015015
Total Units
30.0
Living Area
34202
Source Living Area
Owner
Area
Pasadena NE (646)
Vacancy Rate
0%
Lot Size Area
61844

Location

Listing Courtesy of Dana Brody, Dana Brody, DRE #01429001

Sold By City Street Realty, Elan Kermani, DRE #01441510

Add your commute
LISTING UPDATED: 12/10/2021 07:58 PM

Property Details for 1349 North Hill Avenue

StatusSold
MLS #21-773942
Days on Market91
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1925
Lot Size1.42 AC / 61,844 SF
CountyLos Angeles County

Building

1349 N Hill Ave

24 UnitsBuilt in 1925

Location

Listing Courtesy of Dana Brody, Dana Brody, DRE #01429001

Sold By City Street Realty, Elan Kermani, DRE #01441510

Add your commute

Virtual Tour

Building Information for 1349 North Hill Avenue

Stories-Residences24Year Built1925Building Size-Lot Size1.42 AC / 61,844 SF

Payment Calculator

$110,565 per month

30 year fixed, 7.25% Interest

Principal and Interest

$98,233

Property Taxes

$12,332

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1349 North Hill Avenue

Community / Development
Community / Development
  • Number Of Units: 30
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: MIXED USE
  • View: Yes
  • View Description: City, City Lights
  • View: City Lights
  • Direction Faces: South
Contract Info
Contract Info
  • Financing: Cash To New Loan, Cash
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $1,329,417
  • Net Operating Income: $959,988.00
  • Gross Income: $1,106,079
  • Cap Rate: 5.18%
  • Gross Rent Multiplier: $13.90
  • Actual Annual Gross Rent: $1,132,680.00
  • Financial Info as Of: 10/01/2021
  • Total Annual Expense: 368002
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.8679
  • Lot Size Square Feet: 61844
Parking Details
Parking Details
  • Parking Garage: Uncovered
  • Total Parking: 82
  • Covered Parking: 0
  • Open Other Spaces Total: 82
  • Parking Features: Uncovered
Interior Features
Interior Features
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Dishwasher, Microwave, Hood Fan
  • Common Walls: Attached
  • Virtual Tour Url: https://vimeo.com/575120258
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • New Construction: No
  • Other Structures: Accessory Bldgs
Lease Terms
Lease Terms
  • Entry Date: 08-18-2021
  • Listing Terms: Cash, Cash To New Loan
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $3,076.00
  • Unit Actual Rent: $92,309.00
  • Unit Projected Rent: $92,309.00
  • Like Units: 30
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Percent: 38.0
  • Assessed Land Percent: 62

Property History for 1349 North Hill 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 1349 North Hill Avenue

Taxable ValueLand$6,222,000Additions$6,616,800Total$12,838,800
Tax Record2023$147,979 ($12,332 / month)
Home Facts
Total Finished SqFt24,258 SqFtAbove Grade Finished SqFt24,258 SqFtStories1Lot Size37,806 SqFtStyleOffice BuildingYear Built1925ZoningPSC-CountyLOS ANGELESAPN5850-015-015

Schools near 1349 North Hill Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Longfellow (Henry W.) Elementary School
Public - K to 5
Charles W. Eliot Middle School
Public - 6 to 8
Pasadena High School
Public - 9 to 12
Marshall Fundamental School
Public - 6 to 12
Rating
School
Distance
Longfellow (Henry W.) Elementary School
PublicK to 5

Charles W. Eliot Middle School
Public6 to 8

Pasadena High 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.

Homes for Sale near Northeast Pasadena

Neighborhoods

Cities

ZIPs

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Dana Brody, Dana Brody, DRE #01429001

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.