Homes for sale - 1559 N Hill AVE, Pasadena, CA 91104

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Josh Gregorio

josh.gregoriorealestategroup@gmail.com +1(661) 447-5111

$ 6,600,000

Est. payment | -/mo

24 Beds

28 Baths

14,640 SqFt

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$ 6,600,000

Est. payment | -/mo

Save

24 Beds

28 Baths

14,640 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 14,640 sqft

Price per Sqft $450

MLS Listing ID 24451389

Bedrooms 24

HOA Y/N No

Year Built 1949

Lot Size 0.479 Acres

Property Description

We are pleased to present the opportunity to acquire a rare and exceptional 28-unit multifamily property in Pasadena, CA. Originally constructed in 1932 with an addition in 1949, 1559 N Hill Avenue exudes charm and sophistication with its stately colonial architecture and large columned front porch. The property comprises (22) 1-bedroom units, (5) studios, and (1) 2-bedroom, 1-bath unit. There is a beautifully landscaped central courtyard surrounded by a gorgeous vintage Mellenthin-inspired second-floor catwalk. At the rear of the property is a large, easily-accessible surface parking lot with room for 25 vehicles. Tenants have access to a secured, oversized laundry room as well as to a large bike storage room.These spaces as well as another unused storage room are each roughly 1,000 square feet and could be repurposed for any number of different amenities or they could be potentially converted to additional ADU units. The property has been well maintained with only two owners over the past 40+ years. A major overhaul of the electrical system was completed in 2010 which included main panel and transformer replacement as well as rewiring of all units. The building exterior and interior common areas were recently painted as well. Furthermore, there is no need for soft story or similar seismic retrofitting. 1559 N Hill is located in Pasadena's Historic Highlands neighborhood. This primarily residential enclave is serene and quiet but offers easy access to many great points of interest. Most notably, the property is a short 5-minute walk to Washington Boulevard which is lined with popular shops and restaurants as well as larger national chain stores. 1559 N Hill presents an excellent opportunity for investors looking to acquire a well-positioned multifamily asset in a strong Southern California market. With rental income growth potential and high demand for housing in Pasadena, this property offers both stable current cash flow and significant upside potential.

Location

State CA

County Los Angeles

Area 646 - Pasadena (Ne)

Zoning PSR1

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Garage Assigned

Parking Type Assigned

Total Parking Spaces 25

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5850013016

Special Listing Condition Standard

Listed by Robert Renshaw • REMAX COMMERCIAL & INVESTMENT REALTY

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(661) 447-5111

josh.gregoriorealestategroup@gmail.com

3400 Calloway Dr Suite 700, Bakersfield, California, 93312, USA

1559 N Hill AVE Pasadena, CA 91104

Josh Gregorio

Key Details

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Interior

Exterior

Building

Others

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1559 N Hill AVE