777 North Los Robles Avenue

Pasadena, CA 91104

$2,500,000
Price
3
Beds
11
Baths
6,664 Sq. Ft.
$375 / Sq. Ft.
6,664
Sq. Ft.
$375
per Sq. Ft.

Description

DISCLOSURE: Seller is an active real estate broker in California. This offering provides a whopping ±6.4% CAP Rate and ±8.7% Proforma CAP Rate (buyer to verify CAP Rates), which currently one of the highest CAP Rate for apartments in Pasadena and West San Gabriel Valley submarket. With recent lower interest rates, a buyer could potentially purchase this property with a low down-payment of 35% only and yet still realizing a high 7% Cash-on-cash return (with principal reduction – BUYER TO VERIFY!)....DISCLOSURE: Seller is an active real estate broker in California. This offering provides a whopping ±6.4% CAP Rate and ±8.7% Proforma CAP Rate (buyer to verify CAP Rates), which currently one of the highest CAP Rate for apartments in Pasadena and West San Gabriel Valley submarket. With recent lower interest rates, a buyer could potentially purchase this property with a low down-payment of 35% only and yet still realizing a high 7% Cash-on-cash return (with principal reduction – BUYER TO VERIFY!). Walk Score 86 – Bike Score 91. The property is a two-story apartment with a charming colonial revival architecture. It was built in 1910; it has a large building size of ±6,664 SF and situated on a large ±14,061 SF lot. It offers a desirable unit mix (for Pasadena rent control area) of one x 2bed+1bath+den, one x 2bed+1bath, seven x 1bed+1bath, and one x Studio (non-conforming). Four units have been upgraded with brand new flooring throughout, LED lighting, brand new kitchen with quartz countertops + new kitchen cabinets + stainless steel appliances, updated bathroom, and much more. The remaining non-upgraded 7 units provide ±24% rental upside, which upon turnover will take the current CAP Rate to a whopping 8.7% proforma CAP Rate (buyer to verify). The property has new exterior paint and new common area paint as well. It has a total of 12 parking spaces in the back (10 open + 2 garages). No parking soft story is required. New owners can take advantage of the garage by renting it out or even converting it into ADU. The property does not have any common area laundry which provides additional income opportunities by installing laundry machines. It has master metered for electricity and gas.
  1. Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495

Property Details for 777 North Los Robles Avenue

View
None
Parking Spaces Total
12
Private Pool
No
Cooling Type
Wall/Window
Total Units
11.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
6664

Location

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321
Add your commute
LISTING UPDATED: 04/11/2024 10:25 PM

Property Details for 777 North Los Robles Avenue

StatusActive Under Contract
MLS #AR24027571
Days on Market65
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1910
CountyLos Angeles County

Location

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

Building Information for 777 North Los Robles Avenue

Building/Complex777 N Los Robles AveFloor-Stories2Residences-Pet Policy-Year Built1910Building Size-

Payment Calculator

$15,985 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,644

Property Taxes

$2,341

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 777 North Los Robles Avenue

Rental Info
Rental Info
  • Tenant Pays: None
Income / Expense / Tax Details
Income Details
  • Gross Income: $235,284
  • Gross Scheduled Income: $235,284
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $228,225
  • Net Operating Income: $161,236
  • Gross Multiplier: 10.63
  • Cap Rate: 6.41
  • Current Financing: Conventional
Expense Details
  • Operating Expense: $66,989
  • New Taxes Expense: $27,693
  • Gardener Expense: $1,740
  • Fuel Expense: $4,555
  • Pest Control Expense: $500
  • Electric Expense: $0
  • Insurance Expense: $3,165
  • Maintenance Expense: $5,421
  • Professional Management Expense: $0
  • Trash Expense: $6,000
  • Water Sewer Expense: $16,481
  • Total Expenses: $68,116
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 4620.01
  • CFD/Mello-Roos Fee: $2,562
  • Tax Lot: 9
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Valley
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Carpet, Laminate, Vinyl, Wood
Exterior Features
  • Security Features: Closed Circuit Camera(s)
  • Roof: Asbestos Shingle
  • Entry Location: 1
  • Property Condition: Updated/Remodeled
  • 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, Level, Near Public Transit
  • Direction Faces: East
  • Number Of Units: 11
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 10
  • Open Other Spaces Total: 10
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,325
  • Unit Type Total Rent: $4,649
  • Unit Type Pro Forma: 5300
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 7
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 7
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,697
  • Unit Type Total Rent: $11,877
  • Unit Type Pro Forma: 15400
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,541
  • Unit Type Total Rent: $3,081
  • Unit Type Pro Forma: 3600
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 11
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number With Dishwasher: 0
  • Number With Range: 11
  • Number With Refrigerator: 11
  • Number With Disposal: 11
  • Number Wall AC: 11

Property History for 777 North Los Robles 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 777 North Los Robles Avenue

Taxable ValueLand$1,844,186Additions$461,045Total$2,305,231
Tax Record2023$28,097 ($2,341 / month)
Home Facts
Total Finished SqFt6,664 SqFtAbove Grade Finished SqFt6,664 SqFtLot Size14,061 SqFtStyleMulti-Family Res (5+ Units)Year Built1910ZoningPSR1CountyLOS ANGELESAPN5725-028-025

Schools near 777 North Los Robles 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 - K to 8
Rating
School
Distance
Madison Elementary School
PublicK to 5

Octavia E. Butler Magnet School
Public6 to 8

John Muir High School
Public9 to 12

Odyssey Charter School - South
CharterK to 8

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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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.