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$6,900,000
Est. payment /mo
5 Beds
7 Baths
0.38 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26089323
Bedrooms 5
Lot Size 0.377 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
First Time Ever on Market Original Builder Owned - Generational 16-Unit Value-Add Opportunity in a Premium South Pasadena Neighborhood, NO Local Rent Control, 12 units have been Updated. The San Rafael (1818 Ramona Ave), a premium 16-unit apartment community in one of South Pasadenas most prestigious neighborhoods. Offered for the first time by the original builder, this generational asset sits on a large 16,436 SF R3-zoned lot and boasts approximately 20,000 SF of building space, translating to unusually large, house-like floor plans. It has Exceptional demographics with over $170,017 AHH income within a mile-radius, and within the highly desirable South Pasadena Unified School District. Built in 1968, the building features distinctive architecture and has been exceptionally well-maintained. South Pasadena is a notoriously high-barrier-to-entry market with no local rent control and a severe lack of multifamily inventory. The San Rafael capitalizes on this scarcity, offering an unparalleled unit mix dominated by spacious 2-bedroom apartments. The property is a 3-story building with secured entrance and gated parking. It has fabulous landscaping with superior curb appeal and welcoming entry foyer area complete with seating. With a large building size of 20,000 SF translating to many oversized units (all 2-bedroom units averaged between 1200SF to 1400SF living space, and 850-900SF for 1-bedroom units). It offers superior unit mix of two (2) x 2bed+2.5bath+den, ten (10) x 2bed+2bath, and four (4) large 1bed+1.25bath. The 2bed+2.5bath+den units are extremely large with oversiz
Location
State CA
County Los Angeles
Zoning Assessor
Direction Huntington Dr crossing Ramona Ave, go north on Ramona Ave
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 5319020056
Acceptable Financing Cash
Listing Terms Cash
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Listed by Handoko Chen, DRE#01749321 Growth Investment Group Pasade
Nearby School & Business
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