121 Chester Avenue

Pasadena, CA 91106

$3,100,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $279 / sqft

1960

calendar_month Built

Property Description

Situated in the heart of Pasadena, CA, this 12-unit apartment building presents a value-add opportunity, for a patient investor, in one of the most sought-after locations in the city. Boasting a Walk Score of 93, you are near by Cal Tech, Pasadena City College and The Shops on Lake. Built in 1960, this two-story walk-up building is being marketed for the first time in over 40 years. Comprising a mix of 4 one-bedroom/one-bathroom units and 8 two-bedroom/one-and-three-quarter-bathroom units, this property caters to a diverse range of tenants. Each unit features a balcony or patio (except for unit #1, which is the largest 1-bedroom unit), gas forced air heating, and wall air conditioning units. The kitchens are equipped with gas stoves and ovens, tiled countertops and tiled or linoleum floors, while the bathrooms have tiled or linoleum floors and vanities. Living rooms and bedrooms are carpeted. Although interiors have not been upgraded, there is immense potential for renovation and value enhancement. The property is individually metered for gas and electric, with the owner paying for hot water, gardening, trash, and common area electricity. Two 75-gallon hot water heaters serve the building, ensuring ample hot water supply for residents. Parking is provided with 17 tuck-under spaces located below the building; seismic retrofit will need to be done. Additionally, there is space available for a laundry room, offering an opportunity for added convenience and income generation.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Flooring Information
Material Carpet
Interior Information
Cooling Type Wall/Window Unit(s)

Listing Information

Address 121 Chester Avenue
City Pasadena
State CA
Zip 91106
County Los Angeles
Listing Agent KEVIN LUTZ DRE#00925595
Co-Listing Agent KEVIN HURLEY DRE#01237798
Courtesy Of Keller Williams Realty/Pasadena
MLS WS24091810
List Price $3,100,000
Status Active
Type Residential Income
Subtype Apartment
Structure Size N/A
Lot Size 9,505
Year Built 1960
DOM 7

Exterior Information

Maps

Listing information courtesy of: KEVIN LUTZ, KEVIN HURLEY, Keller Williams Realty/Pasadena . *Based on information from the Association of REALTORS/Multiple Listing as of May 13th, 2024 at 3:32 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.