112 Mar Vista Avenue

Pasadena, CA 91106

$4,100,000
Price
3
Beds
10
Baths
6,920 Sq. Ft.
$592 / Sq. Ft.
6,920
Sq. Ft.
$592
per Sq. Ft.

Description

A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at close to 5% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment...A very well-maintained property in an excellent location only several blocks away from CALTECH and Pasadena City College. With a walk score of 94 and proximity to many amenities in the area including Lake Ave District and Old Town Pasadena and flurries of restaurants along Colorado Blvd, this community offers an ease of management and easy to rent investment. Offered at close to 5% CAP Rate, this investment presents an excellent opportunity for savvy investors to buy a very well-located apartment with no known deferred maintenance and excellent in-place rents. The property was built in 1959 and situated on southeast corner of Mar Vista Ave and Union St. It has a total of ±6,920SF building size and is situated on a large ±8,744SF R4 lot. It has small lawn in the front with side paver stone courtyard that provides easy access to units. The roof is in excellent condition and the property has updated exterior paint. It offers an excellent unit mix of two (2) 2-bedroom+1-bathroom, and eight (8) 1-bedroom+1-bathroom units. Approximately 8 out of 10 of the units have had upgrades with updated kitchen, updated flooring and updated bathroom (buyer to verify). The units are spacious and bright with updated dual pane windows throughout. There are 9 parking spaces provided by carports in the back – there is no soft story retrofit required. Parking is secured by an automatic parking gate. There is a shared laundry room with seller’s own machines. Each unit is separately metered for gas and electricity. The property is located within the central Pasadena area (near Pasadena City College and California Institute of Technology), south of 210 Freeway and just within minutes to Old Town Pasadena area. Boasting a Walk Score of 94 with SUPERB demographics, it offers a superior location with easy access to FWY 210 and FWY 134. It is approximately a mile away from Pasadena Playhouse District, and around ±1.8miles from Old Town Pasadena. It is also just minutes from The Pasadena Convention Center, Norton Simon Museum, Pacific Asia Museum, shopping and dining in the area. The property has superb access to FWY 210 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway.
  1. Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495

Property Details for 112 Mar Vista Avenue

Architectural Style
Mid Century Modern
View
Mountain(s), Peek-A-Boo
Parking Spaces Total
9
Private Pool
No
Cooling Type
Wall/Window
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
LISTING UPDATED: 12/11/2024 08:19 AM

Property Details for 112 Mar Vista Avenue

StatusActive
MLS #AR24245071
Days on Market6
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
CountyLos Angeles County

Building Information for 112 Mar Vista Avenue

Building/Complex112 Mar Vista AveFloor-Stories2Residences-Pet Policy-Year Built1959Building Size-

Property Information for 112 Mar Vista Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $270,000
  • Gross Scheduled Income: $270,000
  • Vacancy Allowance Rate: 2
  • Gross Operating Income: $264,600
  • Net Operating Income: $192,582
  • Number Of Rented Garages: 0
  • Laundry Income: $1,200
  • Gross Multiplier: 15.19
  • Cap Rate: 4.7
  • Current Financing: Conventional
Expense Details
  • Operating Expense: $72,018
  • New Taxes Expense: $45,349
  • Gardener Expense: $1,500
  • Fuel Expense: $0
  • Licenses Expense: $756
  • Electric Expense: $0
  • Insurance Expense: $9,600
  • Maintenance Expense: $2,500
  • Professional Management Expense: $0
  • Trash Expense: $3,120
  • Water Sewer Expense: $6,900
  • Total Expenses: $72,018
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 4623.02
  • CFD/Mello-Roos Fee: $2,154
  • Tax Lot: 20
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Suburban, Valley
Property / Structure Info
Interior Features
  • Appliances: Gas Range, Microwave, Refrigerator
  • Equipment: Laundry Area, Microwave, Refrigerator
Exterior Features
  • Window Features: Double Pane Windows
  • Entry Location: ground
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • Property Condition: Updated/Remodeled
  • Miscellaneous: Value in Land
  • View Description: Peek-A-Boo
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Corner Lot, Landscaped, Lawn, Level with Street, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit, Value In Land
  • Direction Faces: West
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Road Surface Type: Paved
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 9
  • Parking Features: Assigned, Detached Carport
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,850
  • Unit Type Total Rent: $5,700
  • Unit Type Pro Forma: 6400
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 7
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,088
  • Unit Type Total Rent: $16,700
  • Unit Type Pro Forma: 19200
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 10
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 0
  • Number With Range: 10
  • Number With Refrigerator: 10
  • Number With Disposal: 10
  • Number Wall AC: 10

Property History for 112 Mar Vista Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 112 Mar Vista Avenue

Taxable ValueLand$1,089,908Additions$1,414,914Total$2,504,822
Tax Record2024$29,599 ($2,467 / month)
Home Facts
Total Finished SqFt6,920 SqFtAbove Grade Finished SqFt6,920 SqFtLot Size8,734 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningPSR4CountyLOS ANGELESAPN5738-013-030

Schools near 112 Mar Vista Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 6 to 12
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
McKinley School
PublicK to 8

Blair High School
Public6 to 12

Rose City High (Continuation) School
Public9 to 12

Marshall Fundamental School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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112 Mar Vista Avenue is a multi-family home for sale in Pasadena, CA 91106. This property was listed for sale on December 5, 2024 by Growth Investment Group Pasade, it's currently listed at $4,100,000. It has been on the market for a total of 6 days and was last sold on May 10, 2014. This listing's school district is Pasadena Unified School District. Nearby schools include McKinley School, Blair High School and Rose City High (Continuation) School. 112 Mar Vista Avenue is a 3-bed, 10-bath, 6,920 sqft multi-family home built in 1959.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Growth Investment Group Pasade, Han Chen, DRE #01749321

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.