San Tropez Apartment Homes 1218 Pine St 17 Unit Apartment Building $6,785,000 ($399,118/Unit) 5% Cap Rate South Pasadena, CA 91030

San Tropez Apartment Homes is a pride of ownership, 3 story building, elevator served, building with a flat rolled composition roof and a slab foundation. The entrance and parking are gated; there is a lobby in the front entrance and interior hallways. Unit Mix: 1- studio/ 1 bath; 4-1 bed/1.5 bath; 11- 2 bed/ 1.75 bath; 1-2/2.5 bath + Den. There are 26 total parking spaces: 2 garages; 15 tuck-under & 9 carports. Some spaces have storage in the parking area. The driveway & parking area is concrete. Individually metered for electric & hot water (all electric building). Owner pays water/sewer & trash. All units have central A/C & heat. There are updated fixtures, hardware and lighting throughout the units. Most units have laminate vinyl flooring some have carpet. Each unit has a dining room and a balcony or patio (except the studio, unit #103). There is a common area laundry room with 2 washers & 2 dryers leased from CSC Service Works. There is a trash chute on each floor for tenants’ convenience. Original galvanized plumbing. Some of the plumbing has been replaced over the years but only as needed. The age of the roof is unknown but is older. Original sub-panels and main panel. Some have been upgraded as units turn over. San Tropez Apartment Homes is under statewide rent control AB 1482. There is no city rent control but on June 28, 2023 the City of South Pasadena adopted and implemented a “Just Cause for Eviction Ordinance” which became permanent on December 15, 2023.