429 Hill AvePasadena, CA 91106

Property Details for 429 Hill Ave

Year built

1959

Construction

WOOD

Lot size

0.26 AC

Property size (Sq ft)

4,228 SF

Zone code

PSR4

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5739-001-055

APU

5739001055

Description

This exceptional investment opportunity presents a 7-unit apartment building located at 429 N Hill Ave, Pasadena, CA 91106. Priced at $2,000,000, this property offers a diverse mix of units, including four one-bedroom, one-bathroom apartments (one vacant upon sale), a two-bedroom unit, a four-bedroom unit, and a studio apartment. The building's strategic location provides easy access to the 210 freeway, the Gold Line train station, Pasadena City College, Old Town Pasadena, and downtown Los Angeles, ensuring high rental demand and tenant appeal. The property's low maintenance requirements contribute to its strong investment potential. This is an ideal acquisition for investors seeking a consistent income stream from a well-situated multifamily property in a thriving California market. The property is classified as multifamily and commercial, and is situated in Los Angeles County. Its convenient location near major transportation arteries and desirable amenities makes it a highly attractive investment. The diverse unit mix caters to a broad range of tenants, further enhancing its rental income potential. This Pasadena property represents a rare opportunity to acquire a well-maintained, income-producing asset in a prime location. Don't miss this chance to secure a valuable piece of Pasadena real estate.

• CAP approach

  CAP return

  Valuation

  6%

  $1,404,833

  6.5%

  $1,296,769

  7%

  $1,204,142

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,241,006

  Geo Method

  $1,246,194

• Alternative Use

  Use

  Valuation

  Residential

  $1,296,769

  Hospitality

  $1,187,833

  Educational

  $988,263

  Medical

  $1,022,251

  Retail

  $1,537,299

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1535

Longitude

-118.122

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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