60 El Nido Avenue
60 El Nido Avenue
Pasadena, CA 91107
$5,800,000
Price
2
Beds
15
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Description
A HIGH CAP Rate and almost turnkey 12-unit + 3 ADUs garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. With CAP Rate Close to 5% in a Class-A Location, Single-story duplexes layout, and Arcadia adjacent location, this offering provides an extremely rare opportunity for investors to acquire a beautifully upgraded apartment in an excellent location in Pasadena. Six out of 12 units (50%) have been completely upgraded and provides new owners with immediate...A HIGH CAP Rate and almost turnkey 12-unit + 3 ADUs garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. With CAP Rate Close to 5% in a Class-A Location, Single-story duplexes layout, and Arcadia adjacent location, this offering provides an extremely rare opportunity for investors to acquire a beautifully upgraded apartment in an excellent location in Pasadena. Six out of 12 units (50%) have been completely upgraded and provides new owners with immediate market rent without having to deal with tenant relocation and units upgrade process. The property is a beautiful asset with attractive four single-story duplexes and one two-story fourplex in the back. It is located in a mature and quiet residential neighborhood with superb access to many City of Pasadena and City of Arcadia have to offer. It is near Target shopping center, Hastings Ranch neighborhood in Pasadena and located close to City of Arcadia border with Santa Anita Mall just minutes away. The property was built in 1946 and underwent massive renovation in 2023-2024. It is situated on an oversized ±20,570 SF lot size with medium density zoning RM-32 (32 units/Acre). It has excellent curb appeal with front drought tolerant landscaping, new wrought-iron gate and fencing, and many more upgrades. It offers an attractive unit mix of 8 x 1bedroom+1bathroom, 4 x Studio, and will be built 3 x New ADUs 1bedroom+1bathroom. Each unit is bright with an excellent layout. Six out of 12 units have been fully upgraded with high-end finishings such as brand-new flooring throughout, brand new kitchen with kitchen island complete with high-end cabinets and quartz countertops, brand new bathroom complete with tiled bathroom and new vanity cabinets, new mini-split HVAC system in living room and bedroom, and brand new almost everything. The upgraded unit comes with laundry machines. Four back units have large private balcony/patio. There is a large common area backyard in the back, complete with a large fruit producing Avocado tree. Parking is provided by 12 parking spaces where each of the 4 duplexes has 2 parking spaces in between the units (no shared wall between units). The remaining 4 parking spaces are in the back fourplex. Each unit has an individual water heater and separately metered for electricity and gas. The owner is in the process of obtaining final approval for 3 ADUs and the price includes the 3 ADUs built.
- Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495
Property Details for 60 El Nido Avenue
Architectural Style
Bungalow
ViewMountain(s), Peek-A-Boo
Parking Spaces Total12
Private PoolNo
Cooling TypeWall/Window
Total Units15.0
Building TypeAttached
Lot Size SourceAssessor
Location
Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321
Add your commute
LISTING UPDATED: 04/25/2024 01:28 AM
Property Details for 60 El Nido Avenue
| Status | Active |
|---|---|
| MLS # | AR24082052 |
| Days on Market | 10 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1946 |
| County | Los Angeles County |
Location
Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321
Add your commute
Building Information for 60 El Nido Avenue
Building/Complex60 El Nido AveFloor-Stories2Residences-Pet Policy-Year Built1946Building Size-
Payment Calculator
$34,848 per month
30 year fixed, 7.25% Interest
Principal and Interest
$31,653
Property Taxes
$3,195
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 60 El Nido Avenue
Rental Info
Rental Info
- Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
- Gross Income: $375,894
- Gross Scheduled Income: $375,894
- Vacancy Allowance Rate: 2
- Gross Operating Income: $368,376
- Net Operating Income: $281,416
- Laundry Income: $2,400
- Gross Multiplier: 15.43
- Cap Rate: 4.85
- Current Financing: Conventional
Expense Details
- Operating Expense: $86,960
- New Taxes Expense: $61,833
- Gardener Expense: $2,400
- Fuel Expense: $0
- Pest Control Expense: $0
- Pool Expense: $0
- Security Expense: $0
- Insurance Expense: $5,250
- Maintenance Expense: $6,000
- Professional Management Expense: $0
- Trash Expense: $0
- Water Sewer Expense: $9,492
- Total Expenses: $86,960
Tax / Assessment Info
- Tax Block: 15
- Tax Tract Number: 0
- Tax Census Tract: 4632.00
- CFD/Mello-Roos Fee: $2,123
- Tax Lot: 2
Community / Development
Community / Development
- Accessibility Features: None
- Disability Access: None
- Assessments YN: Yes
- Assessments: Buyer to Verify
- Community Features: Valley
Property / Structure Info
Interior Features
- Laundry: Yes
- Laundry Features: Common Area, Community, Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included
- Laundry Equipment Own Lease: Own
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Wall/Window Unit(s)
- Heating Type: Wall
- Heating: Wall Furnace
- Flooring: Laminate, Vinyl, Wood
- Virtual Tour URL Branded: http://growthinvestmentgroup.com/listingdetail.aspx?pid=10441
Exterior Features
- Security Features: Automatic Gate, Carbon Monoxide Detector(s), Security Lights
- Security: Automatic Gate
- Roof: Shingle
- Entry Location: 1
- Fence: Yes
- Fence: Wrought Iron
- Fencing: Wrought Iron
- Property Condition: Turnkey, Updated/Remodeled
- View Description: Peek-A-Boo
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
Land/Lot Info
- Lot Features: 31-35 Units/Acre, Back Yard, Landscaped, Lawn, Lot 20000-39999 Sqft, Rectangular Lot, Near Public Transit, Park Nearby
- Direction Faces: West
- Number Of Units: 15
- Land Lease: No
- Land Lease Type: Fee
- Road Surface Type: Paved
- Road Frontage Type: City Street
- Levels: One, 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, Carport
- Uncovered Spaces: 0
- Open Other Spaces Total: 0
- Parking Garage Spaces: 0
- Carport Spaces: 12
- Parking Features: Assigned, Carport, Attached Carport
Unit Information
Unit 1
- Unit Type Units Total: 8
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 8
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,934
- Unit Type Total Rent: $15,475
- Unit Type Pro Forma: 20800
- Unit Type Type: 1
Unit 2
- Unit Type Units Total: 4
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 4
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,962
- Unit Type Total Rent: $7,850
- Unit Type Pro Forma: 9000
- Unit Type Type: 2
Unit 3
- Unit Type Units Total: 3
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $2,600
- Unit Type Total Rent: $7,800
- Unit Type Pro Forma: 7800
- Unit Type Type: 3
Unit Information
- Number Of Units Leased: 12
- Rent Controlled: Yes
- Number Of Buildings: 5
- Number Of Separate Electric Meters: 15
- Number Of Separate Gas Meters: 15
- Number Of Separate Water Meters: 1
- Number With Dishwasher: 15
- Number With Range: 15
- Number With Refrigerator: 15
- Number With Disposal: 15
- Number Wall AC: 15
Property History for 60 El Nido Avenue
| 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 60 El Nido Avenue
Taxable ValueLand$1,300,000Additions$1,970,000Total$3,270,000
Tax Record2023$38,345 ($3,195 / month)
Home Facts
Total Finished SqFt6,746 SqFtAbove Grade Finished SqFt6,746 SqFtLot Size20,570 SqFtStyleMulti-Family Res (5+ Units)Year Built1946ZoningPSR3CountyLOS ANGELESAPN5754-006-018
Schools near 60 El Nido 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 | |||
| Charter - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Willard Elementary School PublicK to 5 | ||
Woodrow Wilson Middle School Public6 to 8 | ||
Pasadena High School Public9 to 12 | ||
Aveson Global Leadership Academy Charter6 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 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.