1458-1476 Allen Ave Pasadena, CA 91104
- Apartment buildings
- 8,640 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1458-1476 Allen Ave
- Property size
- 8,640 SF
- Property type
- Apartment buildings
Description
This exceptional Altadena investment opportunity presents a 10-unit apartment complex ideally situated on two adjacent parcels totaling 26,799 square feet. The property, known as "The Little Village," boasts a desirable location with a walkability score of 79, offering convenient access to East Washington Village's shops and restaurants, and within 1.3 miles of the Allen Metro Station and the 210 freeway. Comprising three duplexes and four free-standing units, the complex features a mix of seven two-bedroom, one-bathroom units and three one-bedroom, one-bathroom units. All units include individual laundry hookups and original oak hardwood floors (some carpeted), many with custom woodwork and stained cabinetry. Four units feature fireplaces. Parking is ample, with enclosed garages for one or two vehicles per unit, plus additional outside parking in some cases. Many units also enjoy private outdoor yards and patios. The property features a 4.8% current cap rate and a pro-forma cap rate of 5.49%, with a current NOI of $189,303 and a pro-forma NOI of $218,164. Recent improvements include new roofs (within the last year). The property has been meticulously maintained and boasts 100% occupancy. The asking price is $3,975,000, representing $397,500 per unit and $460 per square foot. The land value is $163 per square foot. Los Angeles County rent control applies. This property is being sold due to the death of the trustee. The property's APN is 5852-004-043
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pasadena
- County
- Los Angeles
- State
- California
- Longitude
- -118.112
- Latitude
- 34.1711
