3201 Del Vina St Pasadena, CA 91107

This exceptional value-add opportunity presents a five-unit apartment building situated on a 5,587 square foot lot in Pasadena, California (91107). The property, located at 3201 Del Vina St, consists of two buildings, each one story, built in 1941 with renovations in 1970 and 1990. The property features a total of 2,088 net rentable square feet, currently boasting 80% occupancy. The current Net Operating Income (NOI) is $45,441, yielding a 4.64% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $71,491, resulting in a 7.30% cap rate, reflecting substantial upside potential. The property includes three parking spaces and is zoned RS-6. The asking price is $980,000, translating to $196,000 per unit. This represents a compelling investment opportunity given the current market conditions and the potential for increased rental income. The property includes a vacant single-family residence (SFR) at the front, offering immediate renovation potential and additional income generation. Its location within the desirable Hastings Ranch community provides proximity to various amenities, including shopping centers (Best Buy, PetSmart, Nordstrom Rack, etc.) and the Sierra Madre Villa Metro Stop. The property is being sold "as is." This is a rare opportunity to acquire a multifamily property in a highly sought-after area with significant potential for value appreciation. The property is master-metered for all utilities. The assessor's records indicate five units with three bedrooms and five bathrooms, although the front building presents as a traditional SFR.