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Listed by KEVIN LUTZ, DRE #00925595 • Keller Williams Realty/Pasadena
$ 3,975,000
Est. payment /mo
New
90 -92 Monterey RD South Pasadena, CA 91030
0.32 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRWS26180702
Year Built 1963
Lot Size 0.322 Acres
Source California Regional MLS
Property Description
Monterey Terrace Apartments is a 12-unit multifamily property located at 90 & 92 Monterey Road in South Pasadena, California. The property consists of three two-story walk-up buildings totaling 8,355 gross square feet. Built in 1963, the asset features a unit mix of twelve 2-bedroom/1-bathroom units, with approximately six units averaging 655 square feet and six units averaging 670 square feet. The property has undergone significant capital improvements, including a gut renovation in 2008 with upgraded plumbing, electrical systems, windows, flooring, kitchens, appliances, cabinets, bathrooms, fixtures, hot water heaters, and central air conditioning units. Additional improvements include soft-story parking reinforcement completed in 2008, and a completed SB 721 decking inspection. Monterey Terrace Apartments presents an opportunity to acquire a renovated multifamily asset in South Pasadena with potential long-term upside through its high-density SPR4 zoning designation. Situated on a 14,040 square foot lot, the property benefits from zoning that allows for potential future development up to 20 units, subject to buyer verification. The asset is located within a residential neighborhood featuring a mix of condominiums, apartments, and single-family homes. With upgraded building sy
Location
State CA
County Los Angeles
Area 658 - So. Pasadena
Interior
Heating Central Forced Air
Cooling Central AC
Laundry Laundry Area, Washer/Dryer - Leased
Exterior
Garage Spaces 14.0
Pool 31, None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 5312002002
Special Listing Condition Not Applicable
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