$2,260,000
$2,380,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
9,779 Sqft Lot
SOLD DATE : 08/27/2025
Key Details
Sold Price $2,260,000
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24155824
Sold Date 08/27/25
HOA Y/N No
Year Built 1965
Lot Size 9,779 Sqft
Property Sub-Type Apartment
Property Description
We are pleased to present Earlham Apartments, an excellent value-add, 8-unit apartment complex in Pasadena, CA. The property offers a desirable unit mix of spacious 1, 2, and 3-Bedroom units with amenities such as laminate wood flooring, stainless steel sinks, quartz countertops, electric stoves, and upgraded bathrooms. The apartment building is a gated community on a palm tree lined road and features covered parking spaces, one garage, individual gas and electric meters, copper plumbing, and a shared laundry facility. The property offers an investor the opportunity to acquire a value-add property with an approximate 20% upside, generating a 6.2% cap rate with current rents, 7.7% with market rents.
Location
State CA
County Los Angeles
Area 646 - Pasadena (Ne)
Zoning PSR1
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 1.0
Carport Spaces 7
Garage Description 1.0
Pool None
Community Features Sidewalks
Total Parking Spaces 11
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5731014006
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Kevin Lee Berkshire Hathaway HomeServices California Properties