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2028 Meridian Ave
South Pasadena, CA 91030
Multifamily Property For Sale
·
8 Units
PROPERTY FACTS
| No. Units | 8 | Building Size | 5,152 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1949 |
| Building Class | C | Parking Ratio | 3.11/1,000 SF |
| Lot Size | 0.41 AC | ||
| Zoning | R3 | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 5,152 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1949 |
| Parking Ratio | 3.11/1,000 SF |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
SITE AMENITIES
- Laundry Facilities
ABOUT 2028 MERIDIAN AVE , SOUTH PASADENA, CA 91030
BACK ON MARKET - PRICE REDUCTION. Marcus & Millichap is proud to exclusively present the opportunity to acquire 2028 Meridian Avenue, an 8 unit investment opportunity located in South Pasadena, California. The property was built in 1949 and sits on a lot size of 17,853 square feet and has a building size of 5,152 square feet The property consists of two single story duplexes with one bedroom/one bathroom units with front and rear/side door access and two - two story duplex buildings with four - one bedroom/one bathroom floor plans. The front units offer large private fenced in front yards. Located behind the property are 8 single car garages and open space parking (16 parking spaces). There is also an on-site laundry room. All of the units feature hardwood flooring and are individually metered for gas and electricity and have individual hot water heaters. The subject property is a value add opportunity in a prime San Gabriel Valley location with the potential to maximize rental income through renovations to the interior and exterior of the units. Additional cash flow can be achieved by renting the garages and creating private front and back yards with updated exterior fencing and landscape. An investor will have the unique opportunity to realize significant upside in a high barrier to enter market. The Seller is also offering for sale 2038 Meridian Avenue, South Pasadena, California and would like to close the two properties concurrently. Please call for an Offering Memorandum.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,650 | 644 |
PROPERTY TAXES
| Parcel Number | 5319-037-008 | Improvements Assessment | $1,093,645 |
| Land Assessment | $1,312,373 | Total Assessment | $2,406,018 |
PROPERTY TAXES
