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Listed by ERIC CHEN • CB RICHARD ELLIS
$ 6,500,000
Est. payment /mo
Active Under Contract
444 North Euclid Avenue Pasadena, CA 91101
17,012 SqFt
UPDATED:
12/18/2024 03:41 AM
Key Details
Property Type Single Family Home
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 17,012 sqft
Price per Sqft $382
MLS Listing ID CV-24210883
Year Built 1958
Lot Size 0.486 Acres
Property Description
We are pleased to exclusively offer the York House Apartments, an exceptional multifamily investment opportunity situated at 444 N Euclid Avenue in Pasadena. Strategically positioned within the coveted Villa Parke neighborhood, this property presents a prime opportunity for value appreciation. Its convenient proximity to major thoroughfares and the 210 Foothill Freeway ensures robust tenant demand and easy accessibility. The York House Apartments are a 2-story, 23-unit property originally built in 1958. The property is situated between Maple Street and E Villa Street on a single parcel of land with a total of ?21,172 square feet and a total building size of ?17,012 square feet. The property features an excellent unit mix of one-bed/one-bathroom and two-bedroom/one-bathroom units averaging 740 SF per unit. The property features an on-site laundry facility, mature lush landscaping with a courtyard, covered parking, sparkling pool with outdoor seating, and a secure entry gate. Most units have been upgraded and feature vinyl plank flooring and carpet throughout, kitchens with stainless steel appliances, ceiling fans, and wall air conditioning and heating. The city of Pasadena is ideally located within Southern California offering easy access to the 210, 134, 110, 2 and 5 freeways connecting to all of Los Angeles County, Ventura County, and beyond. Its location offers convenient access to neighboring cities within the San Gabriel Valley and San Fernando Valley. Significant local landmarks within a 20-mile radius include: The Huntington Library, Brookside Golf Course, The Rose Bowl, Dodger Stadium, Crypto. com Arena, Santa Anita Park, Griffith Observatory, Los Angeles Zoo, Hollywood Walk of Fame, Los Angeles County Arboretum, Hollywood Bowl, Universal Studios and more. The York House Apartments at 444 N Euclid Avenue is a prime Pasadena income-producing property that offers a compelling long-term investment opportunity. Its current 2.95% interest-only debt provides an attractive financing structure, while the significant potential for rental upside-- an estimated 27% growth to achieve market rents--underscores its value. Located in a highly desirable neighborhood, this property presents a stable investment opportunity for a diverse range of investors, including first-time buyers, seasoned professionals, and those seeking 1031 exchange benefits.
Location
State CA
County Los Angeles
Zoning PSR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Laundry Common Area
Exterior
Parking Features Gated
Pool Community, In Ground
Community Features Curbs, Sidewalks
Building
Lot Description 21-25 Units/Acre
Sewer Public Sewer