0.32 Acres Lot
0.32 Acres Lot
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26217850
Construction Status Repairs Cosmetic
HOA Y/N No
Year Built 1954
Lot Size 0.322 Acres
Property Sub-Type Apartment
Property Description
295 S Hudson Ave, a premier 14-unit value-add apartment investment located squarely in the heart of Pasadena's highly coveted South Lake Avenue District. As a multi-generational hold property owned by the same family since 1957, this offering represents a true generational acquisition. Assets with this ownership history and ideal operational scale provide investors an exclusive opportunity to secure a well-maintained property in a trophy location with an attractive ±6.47% PROFORMA Cap Rate.
Location is the ultimate amenity for this investment. Categorized as a "Walker's Paradise" with a phenomenal Walk Score of 95, 295 S Hudson Ave is situated just one lot away from the corner of Hudson Ave and Del Mar Blvd. Tenants are positioned directly across from Trader Joe's and a major executive office tower on Lake Ave, with a brand-new Erewhon market and myriad upscale dining options just a short stroll away. This Class-A neighborhood provides residents with effortless access to historic Old Pasadena (housing over 200 premier shops and vibrant nightlife), the Playhouse District, and Caltech. Furthermore, regional transit access to the 110, 210, and 134 freeways connects residents instantly to major employment hubs in Downtown Los Angeles, Glendale, and Burbank.
Constructed in 1954, the clean Mid-Century building features attractive curb appeal and a charming center garden courtyard with outdoor seating. The property encompasses 9,945 square feet of living space on a 14,023 square-foot highest-density residential lot. The highly desirable unit mix consists of two (2) 2-bedroom/1-bathroom units and twelve (12) spacious 1-bedroom/1-bathroom units, averaging ±711 square feet each. Floor plans feel bright and expansive, featuring large windows for natural light and either original or upgraded hardwood flooring. Each unit has an upgraded electrical panel and subpanel, semiprivate patio/balcony, individual water heaterunit (gh the wall A/C. One unit (#1) has been upgraded with new kitchen and new 2nd bathroom.
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Vinyl, Wood
Fireplaces Type None
Fireplace No
Appliance Gas Range
Laundry Common Area
Exterior
Parking Features Assigned
Carport Spaces 10
Fence None
Pool None
Community Features Urban, Valley
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
View Y/N Yes
View City Lights
Roof Type Shingle
Accessibility None
Total Parking Spaces 10
Private Pool No
Building
Lot Description Lawn, Landscaped, Level, Near Public Transit, Rectangular Lot, Sprinkler System, Street Level, Value In Land
Faces East
Story 2
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic
Others
Senior Community Yes
Tax ID 5734027004
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Energy Description 321.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10551
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
880 Roosevelt Suite 250, Irvine, California 92620, United States