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$ 5,600,000
Est. payment /mo
Active
780 Earlham ST Pasadena, CA 91101
0.39 Acres Lot
UPDATED:
01/15/2025 05:06 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW24242697
Originating Board California Regional MLS
Year Built 1964
Lot Size 0.386 Acres
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 645 - Pasadena (Nw)
Interior
Laundry Laundry Area
Exterior
Garage Spaces 21.0
Pool Community Facility
Building
Water District - Public
Others
Tax ID 5731016019
Special Listing Condition Not Applicable
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Listed by Ryan Loria • Triqor Group