Pasadena, CA 91107,60 El Nido AVE
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Pasadena, CA 91107,60 El Nido AVE
Pasadena, CA 91107,60 El Nido AVE
Pasadena, CA 91107,60 El Nido AVE
Pasadena, CA 91107,60 El Nido AVE
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$ 5,800,000
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Active

60 El Nido AVE Pasadena, CA 91107

0.47 Acres Lot


UPDATED:

09/30/2024 06:43 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR24082052

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1946

Lot Size 0.472 Acres

Acres 0.4724

Property Description

A HIGH CAP Rate and almost turnkey 12-unit + 3 ADUs garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. With CAP Rate Close to 5% in a Class-A Location, Single-story duplexes layout, and Arcadia adjacent location, this offering provides an extremely rare opportunity for investors to acquire a beautifully upgraded apartment in an excellent location in Pasadena. Six out of 12 units (50%) have been completely upgraded and provides new owners with immediate market rent without having to deal with tenant relocation and units upgrade process. The property is a beautiful asset with attractive four single-story duplexes and one two-story fourplex in the back. It is located in a mature and quiet residential neighborhood with superb access to many City of Pasadena and City of Arcadia have to offer. It is near Target shopping center, Hastings Ranch neighborhood in Pasadena and located close to City of Arcadia border with Santa Anita Mall just minutes away. The property was built in 1946 and underwent massive renovation in 2023-2024. It is situated on an oversized ±20,570 SF lot size with medium density zoning RM-32 (32 units/Acre). It has excellent curb appeal with front drought tolerant landscaping, new wrought-iron gate and fencing, and many more upgrades.

It offers an attractive unit mix of 8 x 1bedroom+1bathroom, 4 x Studio, and will be built 3 x New ADUs 1bedroom+1bathroom. Each unit is bright with an excellent layout. Six out of 12 units have been fully upgraded with high-end finishings such as brand-new flooring throughout, brand new kitchen with kitchen island complete with high-end cabinets and quartz countertops, brand new bathroom complete with tiled bathroom and new vanity cabinets, new mini-split HVAC system in living room and bedroom, and brand new almost everything. The upgraded unit comes with laundry machines. Four back units have large private balcony/patio. There is a large common area backyard in the back, complete with a large fruit producing Avocado tree.

Parking is provided by 12 parking spaces where each of the 4 duplexes has 2 parking spaces in between the units (no shared wall between units). The remaining 4 parking spaces are in the back fourplex. Each unit has an individual water heater and separately metered for electricity and gas. The owner is in the process of obtaining final approval for 3 ADUs and the price includes the 3 ADUs built.

Location

State CA

County Los Angeles

Area 648 - Pasadena (Se)

Zoning PSR3

Rooms

Ensuite Laundry Common Area, Washer Hookup, Gas Dryer Hookup

Interior

Laundry Location Common Area,Washer Hookup,Gas Dryer Hookup

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Laminate, Vinyl, Wood

Fireplaces Type None

Fireplace No

Appliance Dryer, Washer

Laundry Common Area, Washer Hookup, Gas Dryer Hookup

Exterior

Garage Attached Carport, Assigned, Carport

Carport Spaces 12

Fence Wrought Iron

Pool None

Community Features Valley, Park

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N Yes

View Mountain(s), Peek-A-Boo

Roof Type Shingle

Accessibility None

Parking Type Attached Carport, Assigned, Carport

Total Parking Spaces 12

Private Pool No

Building

Lot Description 31-35 Units/Acre, Back Yard, Lawn, Landscaped, Near Park, Near Public Transit, Rectangular Lot

Faces West

Story 2

Entry Level One,Two

Sewer Public Sewer

Water Public

Architectural Style Bungalow

Level or Stories One, Two

New Construction No

Construction Status Updated/Remodeled,Turnkey

Others

Senior Community No

Tax ID 5754006018

Security Features Carbon Monoxide Detector(s),Security Gate,Security Lights

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard


California Regional MLS (CRMLS)
Listed by Han Chen • Growth Investment Group Pasade