1127 Magnolia St, South Pasadena, CA 91030

Property Description

1127 Magnolia St is a 9-unit, NON rent-controlled apartment is in one of the best location in the City of South Pasadena, California. This offering presents a rare opportunity for an investor to acquire a very well located apartment community in one of highest barrier to entry sub-market in the West San Gabriel Valley. This is the first time it is being offered for sale since 1987.
 
 Because of this superb location, it has a Walk Score 91 out of 100, demonstrating an extremely high “walkability” to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. It is also located within the South Pasadena School District with its superb demographics and an average household income of ±$127,740 within a 1.5 mile radius. 
 
 The property is a two story garden style apartment that was built in 1965. It offers an excellent unit mix of one (1) 3bed+2bath, four (4) 2bed+2bath, three (3) 1bed+1bath and one (1) studio units. All units are large with private patio/balcony. Parking is provided by tuck-under parking on the side and back. There is a carport in the back that provides additional 2 parking spaces.
 
 Each unit is large and bright with many windows. Some units have been completely upgraded with laminate hardwood floor, granite kitchen countertop, new kitchen cabinets, tiled kitchen, tiled bathroom, granite counter bathroom vanity and private patio/balcony. The property has a shared laundry room, separately metered for electricity and gas.