Bungalow

1056 1052 E VILLA Street

Pasadena , CA 91106

MLS#: AR25216827

$1,600,000

Status: Active
Listing number: AR25216827
Listing provided by: Growth Investment Group Pasade
Listing agent phone: None
Last update: 7 days ago
On site: a month ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1922

Sq.Footage

N/A

First Time for Sale Since 1979, Fourplex near Old Town Pasadena and adjacent to several new condominiums, Significant Rental Upside, Easy to Manage and Rent, All 2bedroom units. 1056-1052 N Catalina Ave, a value-add fourplex in a highly desirable location in the City of Pasadena, CA. This property has been very well maintained by current family who have owned it since 1979. The property is in a highly gentrified area right next to 2 newer condominiums projects and across from to be built 22 condominiums project. It is located only 3 blocks east of Lake Ave, and minutes away from most of City of Pasadena amenities such as Old Town Pasadena, Lake Ave Shopping District, Rose Bowl area, CALTECH and PCC. It is surrounded by other small apartments and single-family houses and has excellent demographics of ±$120,347 average household income in a 1-mile radius. This property can be purchased together with the 4 SFR portfolio that are adjacent to it (445 N Wilson, 459 N Wilson, 1072 E Villa, 1062 E Villa) for a large development play. The property consists of a front bungalow style house (2bedroom+1bathroom) and three x 2bedroom+1bathroom units in the back. The front house was built in 1922 and the back 3 units were built in 1964 (based on city’s online permit - buyer to verify – permit will be provided during due diligence period). It has a total building size of 3,378SF and sits on a large 8,245 SF total lot size (R4 zone – High-Density – 48-unit/acre – buyer to verify). The property offers excellent curb appeal with well-manicured front lawn. The front house is a bungalow style unit with front porch, fireplace, original hardwood flooring, smooth ceiling, windows A/C and wall heating. Bathroom has a shower stall, and it has laundry room with hookups. The back 3 units are 2bedroom units with laminate flooring on 1st floor and carpet flooring on 2nd floor units. Three units (Front House, #1052-3, #1052-2) have laundry hookups. All tenants are on month-to-month lease and current rental income is approximately 37% below market. Each unit is separately metered for electricity and gas. Parking is provided by 6 parking spaces (4 carport and 2 open space) at the back. The large lot size, R4 zoning (high density) and carport parking provide superb opportunity for new owner to add ADUs units in the back. The property is located just three blocks away from Lake Ave and within walking distance to myriads of shopping and other amenities on Lake Ave and ColoradoBL.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Wall/Window Unit(s)

  • Fireplace YN

    YES

  • Heating YN

    YES

  • Heating

    Wall Furnace

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    Assigned

  • Pool

    Yes

  • Pool Features

    None

  • View

    None

Area & Lot

  • Lot Features

    Level, Near Public Transit, Rectangular Lot

  • Lot Size(acres)

    0.1893

  • Property Type

    Residential Income

  • Property Sub Type

    Quadruplex

  • Architectural Style

    Bungalow

Price

  • Sales Price

    $1,600,000

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    0

  • Water Source

    Public

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Listing Courtesy of Handoko Chen , Growth Investment Group Pasade

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First Time for Sale Since 1979, Fourplex near Old Town Pasadena and adjacent to several new condominiums, Significant Rental Upside, Easy to Manage and Rent, All 2bedroom units. 1056-1052 N Catalina Ave, a value-add fourplex in a highly desirable location in the City of Pasadena, CA. This property has been very well maintained by current family who have owned it since 1979. The property is in a highly gentrified area right next to 2 newer condominiums projects and across from to be built 22 condominiums project. It is located only 3 blocks east of Lake Ave, and minutes away from most of City of Pasadena amenities such as Old Town Pasadena, Lake Ave Shopping District, Rose Bowl area, CALTECH and PCC. It is surrounded by other small apartments and single-family houses and has excellent demographics of ±$120,347 average household income in a 1-mile radius. This property can be purchased together with the 4 SFR portfolio that are adjacent to it (445 N Wilson, 459 N Wilson, 1072 E Villa, 1062 E Villa) for a large development play. The property consists of a front bungalow style house (2bedroom+1bathroom) and three x 2bedroom+1bathroom units in the back. The front house was built in 1922 and the back 3 units were built in 1964 (based on city’s online permit - buyer to verify – permit will be provided during due diligence period). It has a total building size of 3,378SF and sits on a large 8,245 SF total lot size (R4 zone – High-Density – 48-unit/acre – buyer to verify). The property offers excellent curb appeal with well-manicured front lawn. The front house is a bungalow style unit with front porch, fireplace, original hardwood flooring, smooth ceiling, windows A/C and wall heating. Bathroom has a shower stall, and it has laundry room with hookups. The back 3 units are 2bedroom units with laminate flooring on 1st floor and carpet flooring on 2nd floor units. Three units (Front House, #1052-3, #1052-2) have laundry hookups. All tenants are on month-to-month lease and current rental income is approximately 37% below market. Each unit is separately metered for electricity and gas. Parking is provided by 6 parking spaces (4 carport and 2 open space) at the back. The large lot size, R4 zoning (high density) and carport parking provide superb opportunity for new owner to add ADUs units in the back. The property is located just three blocks away from Lake Ave and within walking distance to myriads of shopping and other amenities on Lake Ave and ColoradoBL.

1056 1052 E VILLA Street

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