383 South El Molino Avenue

Pasadena, CA 91101

$1,688,000
Price
4
Beds
3
Baths
2,131 Sq. Ft.
$792 / Sq. Ft.
2,131
Sq. Ft.
$792
per Sq. Ft.

Description

Triplex in excellent location! Tucked away on the corner of S. El Molino Ave. and the small side street Palm View Place, sits this fantastic triplex with so much to offer a new owner. Just a few blocks and short walk to South Lake Ave. and Trader Joe's make these excellent rentals or an owner user opportunity. There is one 2 Bed + 1 bath unit, approx. 900 SF +/- and two 1 Bed + 1 bath units, approx. 600 SF +/- each, (Buyer to independently verify square footages). Two units have been completely remodeled...Triplex in excellent location! Tucked away on the corner of S. El Molino Ave. and the small side street Palm View Place, sits this fantastic triplex with so much to offer a new owner. Just a few blocks and short walk to South Lake Ave. and Trader Joe's make these excellent rentals or an owner user opportunity. There is one 2 Bed + 1 bath unit, approx. 900 SF +/- and two 1 Bed + 1 bath units, approx. 600 SF +/- each, (Buyer to independently verify square footages). Two units have been completely remodeled and offer wood flooring, recessed lighting, updated kitchens and bathrooms including cabinets/appliances and newer central AC and heat. The building features updated copper plumbing and main electrical panels, a pitched roof that is in great condition and enclosed garages for three cars in addition to open parking on the driveway. A big value add play is the possibility to convert the garages to an ADU fourth unit, Buyer to verify with city. Each unit has its own water heater and they are separately metered for gas and electricity. The property is subject to local Pasadena rent control, so buyers are encouraged to verify and familiarize with local laws. Please do not disturb the tenants. Drive-by only.
  1. Listed by Alexander Metaxas • DRE #01784652 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.

Property Details for 383 South El Molino Avenue

Zoning
PSR3
Parcel Number
5734017014
Total Units
3.0
Living Area
2131
Source Living Area
Vendor Enhanced
Area
Pasadena SE (648)
Vacancy Rate
0
Lot Size Area
5889
LISTING UPDATED: 02/24/2025 04:17 PM

Property Details for 383 South El Molino Avenue

StatusActive
MLS #24-472869
Days on Market78
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1951
Lot Size0.14 AC / 5,889 SF
CountyLos Angeles County

Building Information for 383 South El Molino Avenue

Stories2Residences-Year Built1951Building Size-Lot Size0.14 AC / 5,889 SF

Property Information for 383 South El Molino Avenue

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 1+1 & 2+1
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $89,683
  • Net Operating Income: $56,816.00
  • Gross Income: $92,457
  • Cap Rate: 3.37%
  • Gross Rent Multiplier: $18.93
  • Total Annual Expense: 32867
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1352
  • Lot Size Square Feet: 5889
Parking Details
Parking Details
  • Parking Garage: Driveway, Garage Is Attached, Garage - 3 Car
  • Total Parking: 6
  • Parking Features: Driveway, Garage - Three Door
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Central Air
  • Cooling Type: Central, Wall Unit(s)
  • Heating: Central, Wall Furnace
  • Heating Type: Central, Wall
  • Equipment: Dishwasher, Refrigerator, Washer, Dryer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-17-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,875.00
  • Unit Actual Rent: $2,875.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,429.00
  • Unit Actual Rent: $2,429.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,125.00
  • Unit Actual Rent: $2,125.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $423,895.00
  • Assessed Improvement Percent: 40.43
  • Assessed Land Value: $624,688.00
  • Assessed Land Percent: 59.57
  • Assessed Total Value: $1,048,583.00

Property History for 383 South El Molino 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 383 South El Molino Avenue

Taxable ValueLand$637,181Additions$432,372Total$1,069,553
Tax Record2024$12,471 ($1,039 / month)
Home Facts
Total Finished SqFt2,131 SqFtAbove Grade Finished SqFt2,131 SqFtLot Size5,887 SqFtStyleTriplexYear Built1951ZoningPSR3CountyLOS ANGELESAPN5734-017-014

Schools near 383 South El Molino 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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383 South El Molino Avenue is a multi-family home for sale in Pasadena, CA 91101. This property was listed for sale on December 17, 2024 by Realty Investment Advisors, Inc., it's currently listed at $1,688,000. It has been on the market for a total of 78 days and was last sold on July 8, 2016. This listing's school district is Pasadena Unified School District. Nearby schools include McKinley School, Blair High School and Rose City High (Continuation) School. 383 South El Molino Avenue is a 4-bed, 3-bath, 2,131 sqft multi-family home built in 1951.

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.