777 North Los Robles Avenue
777 North Los Robles Avenue
$2,500,000
3
11
6,664
6,664
$375
Active Under Contract
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.
- 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 Total12
Private PoolNo
Cooling TypeWall/Window
Total Units11.0
Building TypeAttached
Lot Size SourceAssessor
Living Area6664
Location
LISTING UPDATED: 04/11/2024 10:25 PM
Property Details for 777 North Los Robles Avenue
Status | Active Under Contract |
---|---|
MLS # | AR24027571 |
Days on Market | 65 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1910 |
County | Los Angeles County |
Location
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
The Payment Calculator is for illustrative purposes only.
Property Information for 777 North Los Robles Avenue
Property History for 777 North Los Robles Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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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