Kobe Zimmerman
Berkshire Hathaway Home Services California Properties
kobezimmerman@bhhscal.com +1(858) 753-3353UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW24242697
HOA Y/N No
Lot Size 0.386 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present Sharlotte Apartments, a 16-unit apartment community in Pasadena, CA. This property features an excellent unit mix consisting of majority 2-bedroom 2-bath units with balconies/patios, gated entry, covered parking, individual gas and electric meters, and a sparkling pool. The building has undergone several exterior upgrades such as soft story retrofitting, reinforced balconies & decks, all new windows, new electric panels, and a new roof (2021). The interiors have been tastefully renovated with granite countertops, new cabinetry, stainless steel appliances, recessed LED lighting, laminate wood flooring or new carpet, and upgraded bathrooms. This multigenerational asset has been meticulously maintained throughout ownership and is on the market for the first time in 48 years. With strong in-place rents, the property generates a current cap rate of 5.7%, 7.1% with market rents, offering an investor roughly 20% upside in rental income. This trophy asset is ideal for investors seeking a well-maintained, well-located turnkey asset with upside potential and no differed maintenance.
Location
State CA
County Los Angeles
Area Pasadena (91101)
Zoning Public Rec
Exterior
Pool Community/Common
Building
Lot Description Sidewalks
Story 2
Others
Monthly Total Fees $311
Acceptable Financing Conventional
Listing Terms Conventional
MORTGAGE CALCULATOR
If I tour a home, I understand Kobe Zimmerman will be my touring agent. Touring a home is free. If I use Kobe Zimmerman to buy a house, his fee is 2.5% of the purchase price. This fee is negotiable by law. I am not obligated to pay this fee and understand that Kobe will request that this fee be paid by the seller.