$2,725,000
$2,500,000
9.0%For more information regarding the value of a property, please contact us for a free consultation.
686 S Grand AVE Pasadena, CA 91105
0.28 Acres Lot
Key Details
Sold Price $2,725,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID P1-15978
Sold Date 01/09/24
HOA Y/N No
Year Built 1917
Lot Size 0.276 Acres
Property Description
A rare opportunity to acquire one of Southwest Pasadena's quintessential Bungalow Courts, consisting of (5) five free-standing Craftsman Style bungalows on lush landscaped common grounds, each unit measuring approximately 830 SqFt. Commissioned in 1917 by Edwin F. Hahn, founder of one of Pasadena's oldest businesses, the law firm Hahn & Hahn, this trophy property is located on a highly desirable street, just minutes away from the Arroyo and Old Town Pasadena, and presents a wonderful investment opportunity for its future owner. 686-694 South Grand Avenue pairs period details such as original windows, hardwood floors and fireplace with modern amenities including in-unit washer/ dryer, individually metered utilities and hot water heater in each unit. Units offer a slightly varied layout, ranging between 815 - 870 SqFt each, and are entered through a front-porch opening up to a light-filled living room space with adjacent kitchen. The two bedrooms are connected by a full bathroom with a tub. Four of the five units currently rented, yielding a monthly income of $11,820; its projected rent, fully occupied, is $15,220. Front South unit is vacant and staged for viewings. Three units are currently rented at market value and one below market value.
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Zoning PSR4
Rooms
Other Rooms Shed(s)
Interior
Interior Features Built-in Features
Heating Floor Furnace, Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Tile, Wood
Fireplaces Type Decorative
Fireplace Yes
Appliance Dishwasher, Gas Range, Microwave, Refrigerator, Water Heater
Laundry In Kitchen
Exterior
Garage None
Fence Wood
Pool None
Community Features Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Composition
Accessibility None
Private Pool No
Building
Lot Description Landscaped, Sprinklers None
Faces West
Story One
Entry Level One
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Bungalow, Craftsman
Level or Stories One
Additional Building Shed(s)
New Construction No
Others
Senior Community No
Tax ID 5718004002
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard, Trust
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Bought with Mark Jerusalem • Engel & Voelkers Pasadena