$ 2,798,000
-
$2,798,000
Price -
8
Bed -
7
Bath -
3,460
SqFt
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About the Listing 3467 - A34571,AR42422
Rare opportunity to own a fully occupied, character-rich 4-unit income property in one of the San Gabriel Valley's most coveted neighborhoods. Set on a generous 10,002 SF lot in walkable South Pasadena, this two-building property combines the timeless charm of a 1907 Craftsman front house with the income efficiency of a modern 1988 rear building — a combination rarely found at this price point. The front house (3BR/2BA) is the crown jewel: a beautifully maintained Craftsman bungalow showcasing original hardwood floors, a stone fireplace, updated kitchen with stainless appliances, and tastefully renovated bathrooms featuring subway tile, floating vanities, and designer fixtures. A covered front porch and exceptional curb appeal make it equally ideal for an owner-user or a premium rental commanding top-of-market rents. The rear building adds three income-producing units — two 2BR/2BA and one 1BR/1BA — each with assigned carport parking and separately metered utilities. Currently 100% occupied generating $131,700 in annual gross income, with estimated market rents of $156,000/year representing an 18.5% upside as leases roll to market — a compelling value-add story for investors. Pro-forma cap rate of approximately 4.5% at the asking price. The generous lot and long driveway also invite exploration of ADU development potential (buyer to verify). Located within the award-winning South Pasadena Unified School District, minutes to the Gold Line Metro, Fair Oaks shops and dining, and Downtown Los Angeles. A rare find for 1031 exchange buyers, value-add investors, and owner-users alike — don't miss this exceptional South Pasadena offering.
Listing Highlights
Status
Active
Days on Site
3
Property Type
Multi-Family
MLS ®
AR26143552
Year Built
1907
Total Square Footage
3,460
Lot/Acreage
0.23
County
Los Angeles
Area
658 - So. Pasadena
Interior Details
- Bedrooms: 8
- Bathrooms: 7 Full
- Appliances:
- Air Cond:
- Heating: Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 5
- Zoning: R3
- Roof: Composition
- Others: Updated/Remodeled,2+ Total Units,Has ADU
- Sewer: Sewer Tap Paid
- Parking Features: Carport
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5315016006
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
622 Prospect South Pasadena, CA 91030
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