435 North Wilson Avenue

Pasadena, CA 91106

$6,370,000
Price
1
Beds
16
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

4.30% CAP Rate Turnkey 16-unit near Pasadena Playhouse District & Lake Ave Shopping. 435 N Wilson Ave, a turnkey and beautifully upgraded 16 units apartment within walking distance to Pasadena Playhouse and South Lake Ave District in the highly desirable City of Pasadena. Situated in the heart of Pasadena, just steps away from the vibrant Old Town, this property benefits from an enviable location that attracts a diverse range of tenants. Situated on an oversized high-density lot, the property offer...4.30% CAP Rate Turnkey 16-unit near Pasadena Playhouse District & Lake Ave Shopping. 435 N Wilson Ave, a turnkey and beautifully upgraded 16 units apartment within walking distance to Pasadena Playhouse and South Lake Ave District in the highly desirable City of Pasadena. Situated in the heart of Pasadena, just steps away from the vibrant Old Town, this property benefits from an enviable location that attracts a diverse range of tenants. Situated on an oversized high-density lot, the property offer an investor the rare opportunity to own a turnkey apartment with future development opportunity in an extremely good location in Pasadena. The property has been completely renovated with permits (between 2022-2023 – buyer to verify). It was built in 1960 and consists of 1 single-story building and 1 two-story building. It is situated on an oversized ±17,367sf High Density R4 Lot. This high-density lot provides a clear opportunity for Additional Dwelling Units or future redevelopment opportunity (buyer to verify). The single-story building consists of 6 units. The first unit has a fireplace. The 2-story building consists of the remaining 10 units. Each unit has a sizable private patio or balcony. Top-to-bottom renovations were completed recently on the property, which includes brand new drought tolerant landscaping with center garden area, new building façade, signage and exterior paint, new parking gate and repainted railings, new unit patio fences, new exterior lighting, very well-maintained roof, new dual pane windows throughout and much more. Interior upgrades were completed to each unit, which includes full electrical and plumbing upgrades (plumbing upgrade in unit), new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split HVAC systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher, and refrigerator), and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures. The ownership spent a significant amount of time and capital in relocating the previous tenants and completely upgraded the exterior and interior of the property, making this a turnkey investment for the new owner. The property is separately metered for electricity and gas. Parking is provided by 17 carports in the back; there is no soft-story parking required.
  1. Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495

Property Details for 435 North Wilson Avenue

Architectural Style
Mid Century Modern
View
None
Parking Spaces Total
17
Private Pool
No
Cooling Type
Wall/Window
Total Units
16.0
Building Type
Attached
Lot Size Source
Assessor

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321
Add your commute
LISTING UPDATED: 02/19/2024 10:58 AM

Property Details for 435 North Wilson Avenue

StatusActive
MLS #AR24034803
Days on Market68
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
CountyLos Angeles County

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321
Add your commute

Building Information for 435 North Wilson Avenue

Building/Complex435 N Wilson AveFloor-Stories2Residences-Pet Policy-Year Built1960Building Size-

Payment Calculator

$34,764 per month

30 year fixed, 7.25% Interest

Principal and Interest

$34,764

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 435 North Wilson Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $389,040
  • Gross Scheduled Income: $389,040
  • Vacancy Allowance Rate: 2
  • Gross Operating Income: $381,259
  • Net Operating Income: $273,905
  • Gross Multiplier: 16.37
  • Cap Rate: 4.3
  • Current Financing: None
Expense Details
  • Operating Expense: $107,354
  • Operating Expense Percent: 28.00%
  • New Taxes Expense: $69,417
  • Gardener Expense: $2,780
  • Fuel Expense: $0
  • Pest Control Expense: $779
  • Electric Expense: $0
  • Insurance Expense: $3,234
  • Maintenance Expense: $4,398
  • Professional Management Expense: $7,490
  • Trash Expense: $6,539
  • Water Sewer Expense: $3,591
  • Total Expenses: $107,354
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 4623.01
  • CFD/Mello-Roos Fee: $2,035
  • Tax Lot: 29
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Valley
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
Exterior Features
  • Entry Location: 1
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • Property Condition: Turnkey, Updated/Remodeled
  • Miscellaneous: Value in Land
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Level with Street, Lot 10000-19999 Sqft, Rectangular Lot, Near Public Transit, Value In Land
  • Direction Faces: East
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 17
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 16
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,026
  • Unit Type Total Rent: $32,420
  • Unit Type Pro Forma: 34100
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 16
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 17
  • Number Of Separate Gas Meters: 17
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 16
  • Number With Range: 16
  • Number With Refrigerator: 16
  • Number With Disposal: 16
  • Number Wall AC: 16

Property History for 435 North Wilson Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 435 North Wilson Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Jefferson Elementary School
PublicK to 5

Charles W. Eliot Middle School
Public6 to 8

Pasadena High School
Public9 to 12

Rose City High (Continuation) School
Public9 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.

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435 North Wilson Avenue is a multi-family home for sale in Pasadena, CA 91106. This property was listed for sale on February 19, 2024 by Growth Investment Group Pasade, it's currently listed at $6,370,000. This listing's school district is Pasadena Unified School District. Nearby schools include Jefferson Elementary School, Charles W. Eliot Middle School and Pasadena High School. 435 North Wilson Avenue is a 1-bed, 16-bath, multi-family home built in 1960.

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 Growth Investment Group Pasade, Han Chen, DRE #01749321

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.