531 Prescott Street

Pasadena, CA 91104

$4,880,000
Price
2
Beds
19
Baths
8,852 Sq. Ft.
$551 / Sq. Ft.
8,852
Sq. Ft.
$551
per Sq. Ft.

Description

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.
...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.
  1. Listed by KEVIN HURLEY DRE #01237798 PASADENA MARKET CENTER
  2. Listed by KEVIN LUTZ DRE #00925595 PASADENA MARKET CENTER

Property Details for 531 Prescott Street

Parking Spaces Total
11
Private Pool
No
Cooling Type
Other/Remarks
Total Units
20.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
8852
Assessor Parcel Number
5730-001-023

Location

Listing Courtesy of PASADENA MARKET CENTER, KEVIN HURLEY, DRE #01237798; PASADENA MARKET CENTER, KEVIN LUTZ, DRE #00925595
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LISTING UPDATED: 01/17/2023 05:33 AM

Property Details for 531 Prescott Street

StatusActive
MLS #WS23008382
Days on Market11
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1914
CountyLos Angeles County

Location

Listing Courtesy of PASADENA MARKET CENTER, KEVIN HURLEY, DRE #01237798; PASADENA MARKET CENTER, KEVIN LUTZ, DRE #00925595
Add your commute

Building Information for 531 Prescott Street

Building/Complex531 Prescott StFloor-Stories2Residences-Pet Policy-Year Built1914Building Size-

Payment Calculator

$26,887 per month

30 year fixed, 6.33% Interest

Principal and Interest

$24,241

Property Taxes

$2,646

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 531 Prescott Street

Income / Expense / Tax Details
    Income Details
  • 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
    Expense Details
  • 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 / Assessment Info
  • Tax Rate: 1.08
  • Tax Tract Number: .
  • Tax Census Tract: 4621.00
  • CFD/Mello-Roos Fee: $1,276
  • Tax Lot: 14
Community / Development
    Community / Development
  • Accessibility Features: Accessible Elevator Installed
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs
Property / Structure Info
    Interior Features
  • 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
    Exterior Features
  • Security Features: Gated Community
  • Security: Gated Community
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
    Land/Lot Info
  • 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
    Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 11
  • Open Other Spaces Total: 11
  • Carport Spaces: 0
Unit Information
    Unit 1
  • 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 2
  • 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
    Unit Information
  • 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

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 531 Prescott Street

Taxable ValueLand$2,187,292Additions$601,504Total$2,788,796
Tax Record2022$31,753 ($2,646 / month)
Home Facts
Beds2Total Finished SqFt8,852 SqFtAbove Grade Finished SqFt8,852 SqFtStories1Lot Size14,360 SqFtStyleMiscellaneous ResidentialYear Built1914ZoningPSC6CountyLOS ANGELESAPN5730-001-023

Schools near 531 Prescott Street

This home is within Pasadena Unified School District.
RatingSchoolTypeGradesDistance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
RatingSchoolDistance
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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531 Prescott Street is a multi-family home for sale in Pasadena, CA 91104. This property was listed for sale on January 17, 2023 by PASADENA MARKET CENTER at $4,880,000. It has been on the market for a total of 11 days and was last sold on October 4, 2016. This listing's school district is Pasadena Unified School District. Nearby schools include Longfellow (Henry W.) Elementary School, Charles W. Eliot Middle School and John Muir High School. 531 Prescott Street is a 2-bed, 19-bath, 8,852 sqft multi-family home built in 1914.

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 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.