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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$3,975,000

Est. payment - /mo

0.32 Acres Lot

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UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID WS26180702

HOA Y/N No

Year Built 1963

Lot Size 0.322 Acres

Property Sub-Type Apartment

Property Description

Monterey Terrace Apartments is a 12-unit multifamily property located at 90 & 92 Monterey Road in South Pasadena, California. The property consists of three two-story walk-up buildings totaling 8,355 gross square feet. Built in 1963, the asset features a unit mix of twelve 2-bedroom/1-bathroom units, with approximately six units averaging 655 square feet and six units averaging 670 square feet. The property has undergone significant capital improvements, including a gut renovation in 2008 with upgraded plumbing, electrical systems, windows, flooring, kitchens, appliances, cabinets, bathrooms, fixtures, hot water heaters, and central air conditioning units. Additional improvements include soft-story parking reinforcement completed in 2008, and a completed SB 721 decking inspection. Monterey Terrace Apartments presents an opportunity to acquire a renovated multifamily asset in South Pasadena with potential long-term upside through its high-density SPR4 zoning designation. Situated on a 14,040 square foot lot, the property benefits from zoning that allows for potential future development up to 20 units, subject to buyer verification. The asset is located within a residential neighborhood featuring a mix of condominiums, apartments, and single-family homes. With
upgraded building systems, individually metered utilities, renovated interiors, and completed capital improvements, Monterey Terrace Apartments offers investors a stabilized multifamily opportunity with additional value potential.

Location

State CA

County Los Angeles

Area 658 - So. Pasadena

Interior

Heating Central

Cooling Central Air

Fireplace No

Laundry Common Area

Exterior

Carport Spaces 10

Pool None

Community Features Gutter(s)

Total Parking Spaces 14

Private Pool No

Building

Lot Description Street Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5312002002

Energy Description 591.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by KEVIN LUTZ Keller Williams Realty/Pasadena 626-429-0685, DRE #00925595

NEARBY SCHOOL & BUSINESS

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90 -92 Monterey RD South Pasadena, CA 91030