$3,800,000
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26 Beds
18 Baths
11,117 SqFt
SOLD DATE : 10/31/2023
Key Details
Property Type Single Family Home
Listing Status Sold
Purchase Type For Sale
Square Footage 11,117 sqft
Price per Sqft $274
MLS Listing ID 23300163
Sold Date 10/31/23
Bedrooms 26
HOA Y/N No
Year Built 1959
Lot Size 0.491 Acres
Property Description
I am pleased to offer for sale Pasadena Gardens, a 18-unit apartment community located at 267 Barthe Drive. The subject property is located south of Mountain Street and east of the 210 Freeway. The building is within a 5-minute drive to a slew of vibrant restaurants, cafes, bars, theaters, grocery stores, gyms, and entertainment choices on Lake Avenue, Colorado Boulevard, and South Arroyo Parkway. The property is in a location that is safe, attraction-rich, and near renowned schools and strong employment drivers like California Institute of Technology, Jet Propulsion Laboratory, and Fuller Theological Seminary. Situated on a 21,376 square foot parcel, the property is comprised of one studio, eight one-bedroom units, and nine two-bedroom units. The property has 122% remaining rental upside through unit renovations. Pasadena Gardens presents investors a unique opportunity to attain a rare mid-sized asset in a prime Pasadena location that is a short distance to the most attractive thoroughfare in the submarket. This area is currently undergoing a burgeoning gentrification that will support continued rental growth for a new investor who is looking to capitalize on the value-add potential this asset offers.
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Zoning PSR1
Interior
Fireplace No
Exterior
Parking Features Carport
Total Parking Spaces 17
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 5726008019
Special Listing Condition Standard
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Bought with Sean Rosenzweig Marcus & Millichap
