429 N Hill Ave, Pasadena, CA 91106

Property Description

A rare, prestigious, pride-of-ownership residential income opportunity! 427-429 N. Hill Ave. is a 7-unit, 100% occupied, NON rent-controlled apartment community in a fantastic location in Pasadena. The unit mix consists of (1) 4-bedroom/2-bathroom, (1) 2-bedroom/1-bathroom, (4) 1-bedroom/1-bathroom, and (1) studio. The 4-bedroom and 2-bedroom units contain central A/C & heating, with wall A/C and furnace in the others. Over $165,000 in capital improvements since 2002, including brand new 3/4" plywood COMPLETE REPLACEMENT high-quality roofing on all structures installed in 2012. New gutters, painting and HVAC unit also in 2012. Full interior remodels of the various units over the years, most recently in 2011. Very nice landscaping throughout. Great condition. The lot size, at 11,414 SF, is HUGE, with individual garage spaces, carport parking and plenty of open pavement for additional parking. Street parking without permits is allowed as well! There is a ton of room on the lot for an investor's creativity. Laundry machines are owned, not rented, and will transfer to the new owners for additional income. The location is convenient and accessible, with instantaneous freeway access, close to Old Town and the fun Pasadena spots, and in a nice school district, making this a highly desirable and in-demand rental community. A truly unique and exciting opportunity for investors.