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617 Mound Avenue

South Pasadena, CA 91030
  • $3,500,000
  • STATUS: Active
  • ON SITE: 6 Days
  • ID#: PW21253352
New On Site 6 Days Ago
UPDATED: 65 min ago
$3,500,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing provided courtesy of Gary Tolfa of Triqor Group

Description

Pleased to present the opportunity to acquire the Mound Apartments, an excellent pride of ownership & value-add apartment building situated in the coveted city of South Pasadena, adjacent to San Marino and Pasadena. The property offers a unit mix of one and two-bedroom units on a 10,790 Sq. Ft lot. The community features ample covered parking (15 total spaces), laundry facility, and solar powered hot water. Mound Apartments also offers an investor the opportunity to build accessory dwelling units on the property. With 5 renovated units, the property has approximately 20% upside in rents leading to a 4.4% cap rate with market rents.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-29T13:29:07.433. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
www.theparsonsrealestateteam.com/homes/123483345
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617 Mound Avenue South Pasadena, CA 91030

  • Price: $3,500,000
  • Status: Active
  • On Site: 6 Days
  • Updated: 65 min ago
  • ID#: PW21253352
0
Beds
0
Baths
0
½ Baths
0.25
Acres
1960
Built
Neighborhood:
658 - So. Pasadena
County:
Los Angeles
Area:
658 - So. Pasadena
Property Description
Pleased to present the opportunity to acquire the Mound Apartments, an excellent pride of ownership & value-add apartment building situated in the coveted city of South Pasadena, adjacent to San Marino and Pasadena. The property offers a unit mix of one and two-bedroom units on a 10,790 Sq. Ft lot. The community features ample covered parking (15 total spaces), laundry facility, and solar powered hot water. Mound Apartments also offers an investor the opportunity to build accessory dwelling units on the property. With 5 renovated units, the property has approximately 20% upside in rents leading to a 4.4% cap rate with market rents.
Exterior Features

Carport Spaces 7 Carport YN Yes Lot Features Rectangular Lot Number Of Separate Electric Meters 0 Parking Total 15 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Cap Rate 3.2 Common Interest Community Apartment Community Features FoothillsSidewalksUrban Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 175505 Gross Scheduled Income 117840 Insurance Expense 0 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 111545 New Construction YN No Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 60960 Rent Control YN No Senior Community YN No Sewer Septic Tank Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance 5335 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning Spr310000*



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-29T13:29:07.433. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
 
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The Parsons Team | Keller Williams Realty
251 S. Lake Ave #150
Pasadena CA, 91101
Listing provided courtesy of Gary Tolfa of Triqor Group