383 S El Molino Ave Pasadena, CA 91101
Active
$1,688,000
3 Units
4 Beds
3 Baths
2,131 Area(sq.ft.)
5,889 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 2,875 | $ 2,875 | $ 2,995 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,429 | $ 2,429 | $ 2,495 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,125 | $ 2,125 | $ 2,495 |
| 3 | 3 | 4 | 3 | $ 7,429 | $ 7,429 | $ 7,985 |
| MLS #: | 24-472869 |
| Days On Market: | 0 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 792 |
| Price per unit: | $ 562,667 |
| Year Built: | 1951 |
Property Details
TRIPLEX IN EXCELLENT LOCATION! Tucked away on the corner of S. El Molino Ave. and the small side street Palm View Place, sits this fantastic triplex with so much to offer a new owner. Just a few blocks and short walk to South Lake Ave. and Trader Joe's make these excellent rentals or an owner user opportunity. There is one 2 Bed + 1 bath unit, approx. 900 SF +/- and two 1 Bed + 1 bath units, approx. 600 SF +/- each, (Buyer to independently verify square footages). Two units have been completely remodeled and offer wood flooring, recessed lighting, updated kitchens and bathrooms including cabinets/appliances and newer central AC and heat. The building features updated plumbing and electrical, a pitched roof that is in great condition and enclosed garages for three cars in addition to open parking on the driveway. A big value add play is the possibility to convert the garages to an ADU fourth unit, Buyer to verify with city. Each unit has its own water heater and they are separately metered for gas and electricity. The property is subject to local Pasadena rent control, so buyers are encouraged to verify and familiarize with local laws. PLEASE DO NOT DISTURB THE TENANTS. DRIVE-BY ONLY.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Gross Operating Income: | $ 89,683 |
| Total Annual Expense: | $ 32,867 |
| Net Operating Income: | $ 56,816 |
| Gross Annual Income: | $ 92,457 |
| Cap Rate: | 3.37% |
| Gross Rent Multiplier: | 18.93 |
Structure
| Type of Units: | 1+1 & 2+1 |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | PSR3 |
| Parking Garage: | Driveway, Garage Is Attached, Garage - 3 Car |
Interior
| AC/Cooling: | Central, Wall Unit(s) |
| Equipment: | Dishwasher, Refrigerator, Washer, Dryer |
| Heating: | Central, Wall |
Exterior
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