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    1601 Fremont Avenue

    South Pasadena, CA 91030
    • $2,200,000
    • STATUS: Active Under Contract
    • ON SITE: 19 days
    • MLS #: AR21000301
    Under Contract
    UPDATED: 205 min ago
    $2,200,000
    • 0
      BEDS
    • 0.37
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,695
      SQFT
    • $329
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1949
    County:

    School Ratings & Info

    Description

    First time on the market in 46 years. Six generously sized units totaling 6,695 sq ft on a large corner lot sized at 16,308 sq ft. Tenants enjoy a good sized enclosed shared back yard with lawn. The parking area has just been newly paved, with 8 carport spaces, and one uncovered parking space. Exterior was painted in 2019. This property is very walkable with a Walkscore of 81. Within walking and biking distance to local restaurants, parks, shops, and schools. Located in one of the best ranked school districts, the High School and Middle School are only a block away. Both the Metro Gold Line and Metro bus lines are less than one mile away. The apartments are easy to rent due to the convenient location and excellent School District. The property offers generously sized units, onsite community laundry, and covered parking. The tenants are month-to-month and are long-time tenants, and the current rental incomes are significantly below market. In such an excellent location, buyers can quickly add value and increase the income. PLEASE DO NOT DISTURB THE TENANTS. Offer subject to inspection. Buyer to cooperate with seller+GGs 1031 exchange. Due to Covid-19, please email signed CAR PEAD form to listing agent before any showing appointment. Masks must be worn at all times. Agent to present at all showings. It is Buyer's sole responsibility to perform investigations (square footage, lot size, lot dimensions, permits) and satisfy themselves.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-24T00:25:52.227. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

    www.desertareahomesforsale.com/homes/112994327
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    1601 Fremont Avenue South Pasadena, CA 91030

    • Price: $2,200,000
    • Status: Active Under Contract
    • Updated: 205 min ago
    • MLS #: AR21000301
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.37
    Acres
    6,695
    SQFT
    $329
    $/SQFT
    1949
    Built
    Neighborhood:
    658 - So. Pasadena
    County:
    Los Angeles
    Area:
    658 - So. Pasadena
    Property Description
    First time on the market in 46 years. Six generously sized units totaling 6,695 sq ft on a large corner lot sized at 16,308 sq ft. Tenants enjoy a good sized enclosed shared back yard with lawn. The parking area has just been newly paved, with 8 carport spaces, and one uncovered parking space. Exterior was painted in 2019. This property is very walkable with a Walkscore of 81. Within walking and biking distance to local restaurants, parks, shops, and schools. Located in one of the best ranked school districts, the High School and Middle School are only a block away. Both the Metro Gold Line and Metro bus lines are less than one mile away. The apartments are easy to rent due to the convenient location and excellent School District. The property offers generously sized units, onsite community laundry, and covered parking. The tenants are month-to-month and are long-time tenants, and the current rental incomes are significantly below market. In such an excellent location, buyers can quickly add value and increase the income. PLEASE DO NOT DISTURB THE TENANTS. Offer subject to inspection. Buyer to cooperate with seller+GGs 1031 exchange. Due to Covid-19, please email signed CAR PEAD form to listing agent before any showing appointment. Masks must be worn at all times. Agent to present at all showings. It is Buyer's sole responsibility to perform investigations (square footage, lot size, lot dimensions, permits) and satisfy themselves.
    Exterior Features

    Carport Spaces 8.00 Entry Level 1 Garage Spaces 0.00 Lot Features Back YardCorner LotLawnIrregular LotNear Public Transit Lot Size Source Assessor Lot Size Units Square Feet Parking Features CarportAsphalt Parking Total 9.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Uncovered Spaces 1.00

    Interior Features

    Appliances Gas OvenGas Range Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 1116 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Heating Floor Furnace Heating YN Yes Laundry Features Community Levels Two Room Type KitchenLiving Room

    Property Features

    Accessibility Features Parking Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Sidewalks Country Us Current Financing None Electric Expense 547.00 Elevation Units Feet Fuel Expense 349.00 Gardener Expense 2328.00 Gross Income 86760.00 Gross Operating Income 84987.00 Gross Scheduled Income 84157.00 Insurance Expense 2095.00 Land Lease YN No Laundry Income 830.00 Laundry YN Yes Licenses Expense 155.00 Maintenance Expense 15217.00 Net Operating Income 48498.00 New Construction YN No New Taxes Expense 25520.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 0 Number Of Units Leased 5 Number With Dishwasher 0 Number With Disposal 0 Number With Range 6 Number With Refrigerator 0 Operating Expense 36489.00 Other Expense 370.00 Other Expense Description Misc Adm Professional Management Expense 4963.00 Property Sub Type Commercial/Residential Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tax Annual Amount 5293.00 Tenant Pays Cable TvElectricityGas Total Expenses 56841.00 Trash Expense 1333.00 Vacancy Allowance 2603 Vacancy Allowance Rate 3.00 Walk Score 81 Water Sewer Expense 3964.00 Water Source Public Year Built Source Assessor Zoning Spr310000*

    Listing provided courtesy of Naomi Bezaire Lewis of Kingston Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-24T00:25:52.227. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

     
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