1998 East Villa Street

Pasadena, CA 91107

$2,888,000
Price
8
Beds
9
Baths
5,750 Sq. Ft.
$502 / Sq. Ft.
5,750
Sq. Ft.
$502
per Sq. Ft.

Description

5.67% cap, 12.15 grm on current rents! Remodeled units, full copper plumbing, updated electrical, tank-less water heaters, mini-split & central ac systems, roofs updated, a ton of attention to detail in remodels. NO Soft-Story Retrofit. We are pleased to present this 9-unit apartment that will yield a solid return for the new buyer. The property has been very thoughtfully updated offer modern comfort and convenience all while preserving the original character and charm that so many appreciate and...5.67% cap, 12.15 grm on current rents! Remodeled units, full copper plumbing, updated electrical, tank-less water heaters, mini-split & central ac systems, roofs updated, a ton of attention to detail in remodels. NO Soft-Story Retrofit. We are pleased to present this 9-unit apartment that will yield a solid return for the new buyer. The property has been very thoughtfully updated offer modern comfort and convenience all while preserving the original character and charm that so many appreciate and seek out in a property. The unit mix consists of Three 2 Bed + 1 bath units; Two 1 Bed + 1 bath units and Four Studio + 1 bath units. Couple the retro and timeless look of this property with being surrounded by single family homes and it makes sense why it features high occupancy with high rents. There are currently six on-site, parking spaces and property is separately metered for gas and electricity. A well updated, meticulously managed by the ownership and still has upside growth and potential for a new owner make this an investment not to pass up. Please do not disturb the tenants.

Property Details for 1998 East Villa Street

Zoning
PSC-
Style
Architectural
Parcel Number
5745002037
Total Units
9.0
Living Area
5750
Source Living Area
Assessor
Area
Pasadena NE (646)
Vacancy Rate
0
LISTING UPDATED: 10/29/2024 04:34 PM

Property Details for 1998 East Villa Street

StatusActive
MLS #24-413791
Days on Market112
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1935
Lot Size0.22 AC / 9,417 SF
CountyLos Angeles County

Building Information for 1998 East Villa Street

Stories2Residences-Year Built1935Building Size-Lot Size0.22 AC / 9,417 SF

Property Information for 1998 East Villa Street

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: 1s & 2s
  • Security Features: Smoke Detector, Carbon Monoxide Detector(s)
  • Property Condition: Updated/Remodeled
  • Water Heaters: Yes
  • Water Heater Features: Tankless
Contract Info
Contract Info
  • Financing: Cash, Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $230,647
  • Net Operating Income: $163,684.00
  • Gross Income: $237,780
  • Cap Rate: 5.67%
  • Gross Rent Multiplier: $12.15
  • Total Annual Expense: 66963
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2162
  • Lot Size Square Feet: 9417
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 7
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Electric
  • Cooling Type: Wall Unit(s), Electric
  • Heating: Forced Air, Electric, Wall Furnace
  • Heating Type: Forced Air, Electric, Wall
  • Equipment: Dishwasher, Microwave, Range/Oven, Refrigerator
  • Cooking Appliances: Range, Microwave
  • Laundry: Room
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-10-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,725.00
  • Unit Actual Rent: $8,177.00
  • Unit Projected Rent: $8,925.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,150.00
  • Unit Actual Rent: $4,300.00
  • Unit Projected Rent: $4,300.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,808.00
  • Unit Actual Rent: $7,233.00
  • Unit Projected Rent: $7,580.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $727,760.00
  • Assessed Improvement Percent: 39.87
  • Assessed Land Value: $1,097,419.00
  • Assessed Land Percent: 60.13
  • Assessed Total Value: $1,825,179.00

Property History for 1998 East Villa Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1998 East Villa Street

Taxable ValueLand$1,119,367Additions$742,765Total$1,862,132
Tax Record2024$22,392 ($1,866 / month)
Home Facts
Total Finished SqFt5,750 SqFtAbove Grade Finished SqFt5,750 SqFtLot Size9,414 SqFtStyleMulti-Family Res (5+ Units)ZoningPSC-CountyLOS ANGELESAPN5745-002-037

Schools near 1998 East Villa Street

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 12
Rating
School
Distance
Jefferson Elementary School
PublicK to 5

Charles W. Eliot Middle School
Public6 to 8

Pasadena High School
Public9 to 12

Aveson Global Leadership Academy
Charter6 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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1998 East Villa Street is a multi-family home for sale in Pasadena, CA 91107. This property was listed for sale on July 10, 2024 by Realty Investment Advisors, Inc., it's currently listed at $2,888,000. This listing's school district is Pasadena Unified School District. Nearby schools include Jefferson Elementary School, Charles W. Eliot Middle School and Pasadena High School. 1998 East Villa Street is a 8-bed, 9-bath, 5,750 sqft multi-family home built in 1935.

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 Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652; Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644

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.