$2,680,000

A great opportunity to acquire the 5 units multi-family property 63 & 65 S Roosevelt Ave. in Lamanda Park neighborhood of the highly desirable city of Pasadena. 5 mins walk to Pasadena Plaza, including Vons, US bank, UPS store, restaurants and coffee shops. 3 mins drive to California Institute of Technology and Pasadena City College, and also within minutes to Old Pasadena. With a great unit mix of one 3 bed / 2 bath house with private fenced yard and four 1 bed / 1 bath units, this 100% fully leased turn-key property offers a total 3,410sqft building on a 11,437sqft lot. 63 & 65 Roosevelt Ave is a very attractive single-story apartment that was built in 1956, which is a prime Pasadena income-producing property and a great value-add opportunity for a short or long-term investment. Significant Potential for Rental Upside by converting it to two stories apartment building with 12+ units (most of the neighbors are two stories). The front house (65 S Roosevelt) is a 3 bedroom 2 bathroom single family style house with approximately 1,650sqft in size. The house has its own large private yard with mature landscaping and secured gate. The back property (63 S Roosevelt) is a four-unit apartment. All units are comprised of wall air conditioning and heating, laminate flooring, spacious kitchens with gas oven/stove combinations, in-unit laundry, individually metered gas and electricity and surface parking with ample street parking. All 5 units are currently occupied (100% occupancy) with potential upside for extra cash flow in the future.

Listing Map