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343 W Howard Street

Pasadena, CA 91103
  • $1,760,000
  • STATUS: Active
  • ON SITE: 3 Days
  • ID#: AR22173181
New On Site 3 Days Ago
UPDATED: 15 min ago
$1,760,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Listing Agent(s): Handoko Chen of Gig Real Estate Inc. (626-594-4901)


Description

343 W Howard St, a single story 4-unit apartment in the highly desirable location in the City of Pasadena, CA. This offering provides an extremely rare opportunity for investors to acquire an attractive apartment community in one of most desirable sub-market throughout San Gabriel Valley. There is NO LOCAL rent control in Pasadena which allows maximum rent increase of 5% + CPI per AB1482.The property has been updated and upgraded with many capital improvements completed recently. It has an excellent curb appeal with well-manicured landscaping in the front. It was built in 1964 and has 3,408sf building size on a 8,802sf lot. It offers an excellent unit mix of ALL 2-bedroom units with each unit has around 850sf in size. All four units have been completely upgraded with attention to detail. Each unit has new flooring throughout, new kitchen with shakers cabinets, quartz countertops and stainless-steel kitchen appliances, new tiled bathroom with new vanities, in-unit laundry machines (seller own machines), and updated ceiling light. Each unit has individual water heater and separately metered for electricity and gas. Parking is provided by a detached carport in the back (total there are 5 spaces 1 space can be rented out); this property DOES NOT require any soft-story parking retrofit. Some of the capital improvements completed are new exterior paint, new double pane windows, all units upgraded, copper pipe in each unit, and re-lined sewer pipe from building to city connection (buyer to verify).The property is located just less than a mile from Brookside Golf Course and 1.3miles from the world renown Rose Bowl Stadium. It is also minutes from Old Town Pasadena, Lake Ave District, The Paseo on Colorado, museums, theaters, entertainments, groceries, cafes, shops, and other fantastic amenities in Pasadena. It has a good demographics of $102,604 average household income within a 1-mile radius. The property has superb access to FWY 210 and 110 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is minutes away from FWY 110 that connect to Downtown Los Angeles.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T13:32:40.363. 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 Nest Real Estate. Licensed in the State of California, USA.
www.amayarealestategroup.com/homes/131906235
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343 W Howard Street Pasadena, CA 91103

  • Price: $1,760,000
  • Status: Active
  • On Site: 3 Days
  • Updated: 15 min ago
  • ID#: AR22173181
0
Beds
0
Baths
0
½ Baths
0.2
Acres
1964
Built
Neighborhood:
645 - Pasadena (NW)
County:
Los Angeles
Area:
645 - Pasadena (NW)
Property Description
343 W Howard St, a single story 4-unit apartment in the highly desirable location in the City of Pasadena, CA. This offering provides an extremely rare opportunity for investors to acquire an attractive apartment community in one of most desirable sub-market throughout San Gabriel Valley. There is NO LOCAL rent control in Pasadena which allows maximum rent increase of 5% + CPI per AB1482.The property has been updated and upgraded with many capital improvements completed recently. It has an excellent curb appeal with well-manicured landscaping in the front. It was built in 1964 and has 3,408sf building size on a 8,802sf lot. It offers an excellent unit mix of ALL 2-bedroom units with each unit has around 850sf in size. All four units have been completely upgraded with attention to detail. Each unit has new flooring throughout, new kitchen with shakers cabinets, quartz countertops and stainless-steel kitchen appliances, new tiled bathroom with new vanities, in-unit laundry machines (seller own machines), and updated ceiling light. Each unit has individual water heater and separately metered for electricity and gas. Parking is provided by a detached carport in the back (total there are 5 spaces 1 space can be rented out); this property DOES NOT require any soft-story parking retrofit. Some of the capital improvements completed are new exterior paint, new double pane windows, all units upgraded, copper pipe in each unit, and re-lined sewer pipe from building to city connection (buyer to verify).The property is located just less than a mile from Brookside Golf Course and 1.3miles from the world renown Rose Bowl Stadium. It is also minutes from Old Town Pasadena, Lake Ave District, The Paseo on Colorado, museums, theaters, entertainments, groceries, cafes, shops, and other fantastic amenities in Pasadena. It has a good demographics of $102,604 average household income within a 1-mile radius. The property has superb access to FWY 210 and 110 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is minutes away from FWY 110 that connect to Downtown Los Angeles.
Exterior Features

Carport Spaces 5 Carport YN Yes Lot Features Near Public TransitRectangular LotStreet Level Number Of Separate Electric Meters 4 Open Parking Spaces 0 Parking Features CoveredCarportDetached CarportDriveway Parking Total 5 Pool Features None Pool Private YN No Property Attached YN Yes View None View YN No

Interior Features

Appliances Gas RangeMicrowaveRefrigeratorWater HeaterDryerWasher Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring LaminateVinylWood Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.73 Common Interest Community Apartment Community Features SuburbanValley Current Financing Conventional Electric Standard Garage YN No Gross Income 96000 Gross Scheduled Income 96000 Insurance Expense 2192 Land Lease YN No Laundry Features Inside Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 1529 Net Operating Income 65488 New Construction YN No New Taxes Expense 18763 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 27632 Possession Close Of Escrow Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 8000 Trash Expense 0 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Vacancy Allowance Rate 3 Water Sewer Expense 2602 Water Source Public Zoning Psr1



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T13:32:40.363. 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 Nest Real Estate. Licensed in the State of California, USA.
 
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Nest Real Estate
21804 Cactus Ave ste 101
Riverside CA, 92518
Listing Agent(s): Handoko Chen of Gig Real Estate Inc. (626-594-4901)