178 Monterey Rd, South Pasadena, CA 91030

3 Unit Apartment Building Offered at $1,000,000 at a 1.23% Cap Rate in South Pasadena, CA 91030

Asking Price $1,000,000

Property Type
Multifamily
Square Feet
2,208 SF

Listing Contacts

Cindy Hill
Cindy Hill
  • Property Info

Property Overview

Equity Union Commercial is proud to represent this 3-unit apartment building in Pasadena.
The building was constructed in 1946. Its unit mix consists of (3) 2+1 units. With a lot size of 7,809 square feet, the property has a total of 2,208 rentable square feet.
The property is situated in South Pasadena, which is a charming community, situated only six miles from downtown Los Angeles. Called the City of Trees, the area is known for its stunning homes, unique small businesses, and top quality schools. South Pasadena’s diverse population of about 25,000 occupies a mere 3.44 square miles of flatlands and hillsides on the west side of the San Gabriel Valley. This small town atmosphere makes South Pasadena one of California's most desirable locations.
More than 100 acres of parks and playgrounds blanket its landscape and more than 21,000 trees adorn its streets. The quiet, historic character of its attractive neighborhoods is a testament to the preservationist efforts of residents in protecting both its architectural and natural beauty. The city enjoys a low crime rate and the benefits of a close-knit, participation-oriented community. Small, proud and independent, the City of South Pasadena has battled for a hundred years to preserve its status as a distinct and distinctive community.

Property Details

Year Built
1946
Stories
2
Lot Size (sq. ft)
7,841 SF
Units
3

Highlights

  • 3 units in prime South Pasadena Rental location
  • Excellent unit mix consisting of (3) 2+1 units
  • Rents have not been raised by long term owner
  • Property features enclosed garages, one site laundry room, and additional back yard area

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