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  • 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.

    KEY DETAILS
    • Price:
    • $3,500,000
    • Bedrooms:
    • 0
    • Full Baths:
    • 0
    • Square Footage:
    • 5,882
    • Acreage:
    • 0.25
    • Year Built:
    • 1960
    • MLS #:
    • PW21253352
    • Street Address:
    • 617 Mound Ave
    • City:
    • South Pasadena
    • State:
    • CA
    • Postal Code:
    • 91030
    • County:
    • Los Angeles
    • Area:
    • So. Pasadena
    • Listing Status:
    • For Sale - Active Under Contract

    Building

    • Number Of Units:
    • 8
    • Total # Of Buildings:
    • 1
    • Total Building Square Footage:
    • 5882
    • Walls:
    • 1 Common Wall
    • Year Built:
    • 1960
    • Year Built Source:
    • Public Records

    Business

    • Gross Income:
    • 172505
    • Net Operating Income:
    • 111545
    • Operating Expense:
    • 60960

    Land

    • Approximate Lot Size Range Source:
    • Assessor
    • Conforms To Zoning:
    • Spr310000*
    • Lot Features:
    • Rectangular Lot
    • Lot Size:
    • 10790
    • Lot Square Footage:
    • 10790

    Listing

    • Community Features:
    • Foothills, Sidewalks, Urban
    • Days On Market:
    • 16
    • On Market Date:
    • 2021-11-22
    • Originating Mls:
    • Crmls
    • Terms:
    • Conventional

    Rooms

    • Laundry:
    • Common Area

    Structures

    • Carport Present:
    • Yes
    • Number Of Carport Spaces:
    • 7
    • Parking Spaces:
    • 15

    Systems

    • Existing Water:
    • Public
    • Sewage Type:
    • Septic Tank

    Units

    • Unit 1 Monthly Rent:
    • 1613
    • Unit 1 Total Bathrooms:
    • 1
    • Unit 1 Total Bedrooms:
    • 1
    • Unit 1 Type:
    • Item1bedroom
    • Unit 2 Monthly Rent:
    • 2075
    • Unit 2 Total Bathrooms:
    • 1
    • Unit 2 Total Bedrooms:
    • 2
    • Unit 2 Type:
    • Item2bedroom

    Source

    • Provided By:
    • Listing Agent Gary Tolfa () with Triqor Group

      CACRMLS
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    NOTES

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