531 Prescott Street
531 Prescott Street
Description
operation. The property was previously licensed as an independent living facility for the visually impaired. The property is currently being leased to market rate tenants. New ownership to perform their own investigation regarding current use, allowable use, and permitted number of units. There are 19 studio units plus the 2 bed/2 bath + office, house....Located in a historic area, surrounded by gracious majestic trees and mature greenery, this gated, unique investment opportunity provides a turn-key
operation. The property was previously licensed as an independent living facility for the visually impaired. The property is currently being leased to market rate tenants. New ownership to perform their own investigation regarding current use, allowable use, and permitted number of units. There are 19 studio units plus the 2 bed/2 bath + office, house. The studio units have a freestanding sink, refrigerator, hot pad unit, and a full bathroom. There
are new heating / air conditioning units in each apartment. Each unit features a convenient, walk-in closet. There are stairs and one certified handicap elevator.
- Listed by KEVIN HURLEY • DRE #01237798 • PASADENA MARKET CENTER
- Listed by KEVIN LUTZ • DRE #00925595 • PASADENA MARKET CENTER
Property Details for 531 Prescott Street
Location
Property Details for 531 Prescott Street
| Status | Active |
|---|---|
| MLS # | WS23008382 |
| Days on Market | 11 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1914 |
| County | Los Angeles County |
Location
Building Information for 531 Prescott Street
Payment Calculator
$26,887 per month
30 year fixed, 6.33% Interest
$24,241
$2,646
$0
Property Information for 531 Prescott Street
- Gross Income: $8,580
- Gross Scheduled Income: $343,320
- Vacancy Allowance: 10300
- Vacancy Allowance Rate: 3
- Gross Operating Income: $333,020
- Net Operating Income: $215,796
- Garage Income: $6,180
- Laundry Income: $2,400
- Gross Multiplier: 14.21
- Cap Rate: 4.42
- Operating Expense: $117,224
- New Taxes Expense: $53,180
- Gardener Expense: $3,000
- Fuel Expense: $3,000
- Pest Control Expense: $660
- Electric Expense: $10,800
- Insurance Expense: $5,100
- Maintenance Expense: $20,599
- Maintenance Percent: 6.00%
- Professional Management Expense: $6,000
- Other Expense: $4,085
- Other Expense Description: Other
- Trash Expense: $0
- Water Sewer Expense: $10,800
- Total Expenses: $117,224
- Tax Rate: 1.08
- Tax Tract Number: .
- Tax Census Tract: 4621.00
- CFD/Mello-Roos Fee: $1,276
- Tax Lot: 14
- Accessibility Features: Accessible Elevator Installed
- Assessments YN: Yes
- Assessments: Unknown
- Community Features: Curbs
- Appliances: Refrigerator
- Equipment: Laundry Area, Refrigerator
- Room Type: Walk-In Closet
- Bedroom Features: WalkInCloset
- Laundry: Yes
- Laundry Features: Common Area
- Cooling: See Remarks
- Heating Type: Other
- Heating: See Remarks
- Heat Equipment: Other/Remarks
- Security Features: Gated Community
- Security: Gated Community
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: Level with Street
- Number Of Units: 20
- Land Lease: No
- Land Lease Type: Fee
- Topography: Level
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Uncovered Spaces: 11
- Open Other Spaces Total: 11
- Carport Spaces: 0
- Unit Type Units Total: 19
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $24,195
- Unit Type Total Rent: $24,195
- Unit Type Pro Forma: 27450
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 0
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $3,700
- Unit Type Total Rent: $3,700
- Unit Type Pro Forma: 4000
- Unit Type Type: 2
- Number Of Units Leased: 10
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 1
- Number Of Separate Gas Meters: 1
- Number Of Separate Water Meters: 1
Property History for 531 Prescott Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 531 Prescott Street
Schools near 531 Prescott Street
| Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 12 |
| Rating | School | Distance |
|---|---|---|
Longfellow (Henry W.) Elementary School PublicK to 5 | ||
Charles W. Eliot Middle School Public6 to 8 | ||
John Muir 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.
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Listing Courtesy of PASADENA MARKET CENTER, KEVIN HURLEY, DRE #01237798; PASADENA MARKET CENTER, KEVIN LUTZ, DRE #00925595
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association 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 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.