175 North Catalina Avenue

Pasadena, CA 91106

$1,400,000
Last Sold Price
10
Beds
9
Baths
5,264 Sq. Ft.
$266 / Sq. Ft.
5,264
Sq. Ft.
$266
per Sq. Ft.

Description

Lowest price per sq. Ft. Of any apartment building in pasadena! This 5 unit apartment property offers an excellent value-add opportunity for any investor or even an owner user as the property consists of four spacious units in front with a detached bungalow house in back. This tremendous location is situated just one-half mile (0.5 mi) from the Metro Gold Line station to the North and the restaurants of S. Lake Ave and famous Shoppers Lane to the South. The four spacious units in front feature a...Lowest price per sq. Ft. Of any apartment building in pasadena! This 5 unit apartment property offers an excellent value-add opportunity for any investor or even an owner user as the property consists of four spacious units in front with a detached bungalow house in back. This tremendous location is situated just one-half mile (0.5 mi) from the Metro Gold Line station to the North and the restaurants of S. Lake Ave and famous Shoppers Lane to the South. The four spacious units in front feature a great unit mix of a two-story 4 bedroom + 2 bath townhouse unit and three 2 bedroom + 1.5 bath units. The detached 1 bedroom + 1 bath bungalow in back is close to 700 SF (Buyer to verify) with its own dedicated carport and private back yard. There are 4 covered parking spaces that can park 2 cars tandem for the front units and two more spaces for detached house, so 10 on-site parking spaces. Enclosed storage rooms and two units have private, fenced patio area. The property is separately metered for gas and electricity with a community laundry room and central water heater. Situated on a 9,948 SF lot with a high-density zoning of RM-48, the property directly across the street with a similar lot size currently has 9 Townhome units being developed. There is potential to create an ADU within the property (Buyer to verify with City). For an investor, this property presents the opportunity to achieve a much higher rental income as units become vacant since the property is under Pasadena Rent Control laws. Given the location, property features and incredibly strong rental demand of Pasadena, this multifamily property is a very strong long-term investment and hedge against inflation.
  1. Listed by Alexander Metaxas • DRE #01784652 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.

Property Details for 175 North Catalina Avenue

Zoning
PSR4
Parcel Number
5738003008
Total Units
5.0
Living Area
5264
Source Living Area
Vendor Enhanced
Area
Pasadena SE (648)
Vacancy Rate
0%
Lot Size Area
9948

Location

Listing Courtesy of Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644

Sold By Non-Participant Office, Subscriber Non, DRE #13252

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LISTING UPDATED: 10/17/2023 09:20 AM

Property Details for 175 North Catalina Avenue

StatusSold
MLS #23-270989
Days on Market107
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.23 AC / 9,948 SF
CountyLos Angeles County

Location

Listing Courtesy of Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644

Sold By Non-Participant Office, Subscriber Non, DRE #13252

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Building Information for 175 North Catalina Avenue

Stories-Residences-Year Built1964Building Size-Lot Size0.23 AC / 9,948 SF

Payment Calculator

$8,005 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,640

Property Taxes

$365

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 175 North Catalina Avenue

Community / Development
Community / Development
  • Number Of Units: 5
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $90,403
  • Net Operating Income: $48,921.00
  • Gross Income: $93,200
  • Cap Rate: 4.00%
  • Gross Rent Multiplier: $15.02
  • Total Annual Expense: 34373
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2284
  • Lot Size Square Feet: 9948
Parking Details
Parking Details
  • Parking Garage: Covered Parking, Carport
  • Total Parking: 9
  • Parking Features: Covered, Carport
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall Unit(s), Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven, Refrigerator
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other, Shed(s)
Lease Terms
Lease Terms
  • Entry Date: 05-22-2023
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $1,844.00
  • Unit Projected Rent: $3,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,600.00
  • Unit Actual Rent: $1,346.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,600.00
  • Unit Actual Rent: $2,100.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,600.00
  • Unit Actual Rent: $1,113.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 4
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,600.00
  • Unit Actual Rent: $1,113.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 5
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $189,170.00
  • Assessed Improvement Percent: 72.42
  • Assessed Land Value: $72,031.00
  • Assessed Land Percent: 27.58
  • Assessed Total Value: $261,201.00

Property History for 175 North Catalina 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 175 North Catalina Avenue

Taxable ValueLand$73,471Additions$192,953Total$266,424
Tax Record2023$4,377 ($365 / month)
Home Facts
Total Finished SqFt5,264 SqFtAbove Grade Finished SqFt5,264 SqFtLot Size9,948 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningPSR4CountyLOS ANGELESAPN5738-003-008

Schools near 175 North Catalina 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

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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 Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644

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.