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1760 State St
South Pasadena, CA 91030
Park Lane · Multifamily Property For Sale
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42 Units
Investment Highlights
- Pride of Ownership Asset in Prime South Pasadena Location
- Property Features Ample Tuck-Under Parking, Secure Entry, Swimming Pool, BBQ & Picnic Area, On-Site Laundry Facility, Well-Maintained Landscaping and
- Value-Add Opportunity – Approximately 25% Rental Growth to Achieve Market Rents – Additional Upside through Interior and Exterior Renovations
- Excellent Unit Mix of Spacious One- & Two-Bedroom Floorplans – Average Unit Size of 950 Square Feet
- Units Feature Oven/Stove Combinations, Wall Air Conditioning and Heating, Individual Meters for Electric and Gas | Select Units Feature Laminated Wood
- 3.16% Cap Rate on Current Rents | 4.50% Cap Rate on Market Rents
Property Facts
| No. Units | 42 | Lot Size | 0.94 AC |
| Property Type | Multifamily | Building Size | 39,919 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 3 |
| Building Class | C | Year Built | 1957 |
| Zoning | SPR3A10000 | ||
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 39,919 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1957 |
| Zoning | SPR3A10000 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Pool
- Tenant Controlled HVAC
- Gated
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 28 | $1,608 | 800 |
| 2+2 | 14 | $1,948 | 1,251 |
Property Taxes
| Parcel Number | 5317-021-023 | Improvements Assessment | $8,914,147 |
| Land Assessment | $3,820,348 | Total Assessment | $12,734,495 |
Property Taxes
Parcel Number
5317-021-023
Land Assessment
$3,820,348
Improvements Assessment
$8,914,147
Total Assessment
$12,734,495
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