622 Prospect, South Pasadena, CA 91030
622 Prospect, South Pasadena, CA 91030
622 Prospect, South Pasadena, CA 91030
622 Prospect, South Pasadena, CA 91030
622 Prospect, South Pasadena, CA 91030
622 Prospect, South Pasadena, CA 91030
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Zach Arrington

Zach Arrington

+1(619) 374-5339
$ 2,688,000
Est. payment | /mo

8 Beds

7 Baths

10,002 Sqft Lot

Save
$ 2,688,000
Est. payment | /mo
Save

8 Beds

7 Baths

10,002 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR26214222

Bedrooms 8

Lot Size 10,002 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

Rare opportunity to own a fully occupied, character-rich 4-unit income property in one of the San Gabriel Valley's most coveted neighborhoods. Set on a generous 10,002 SF lot in walkable South Pasadena, this two-building property combines the timeless charm of a 1907 Craftsman front house with the income efficiency of a modern 1988 rear building a combination rarely found at this price point. The front house (3BR/2BA) is the crown jewel: a beautifully maintained Craftsman bungalow showcasing original hardwood floors, a stone fireplace, updated kitchen with stainless appliances, and tastefully renovated bathrooms featuring subway tile, floating vanities, and designer fixtures. A covered front porch and exceptional curb appeal make it equally ideal for an owner-user or a premium rental commanding top-of-market rents. The rear building adds three income-producing units two 2BR/2BA and one 1BR/1BA each with assigned carport parking and separately metered utilities. Currently 100% occupied generating $131,700 in annual gross income, with estimated market rents of $156,000/year representing an 18.5% upside as leases roll to market a compelling value-add story for investors. Pro-forma cap rate of approximately 4.5% at the asking price. The generous lot and long driveway also invite exploration of ADU development potential (buyer to verify). Located within the award-winning South Pasadena Unified School District, minutes to the Gold Line Metro, Fair Oaks shops and dining, and Downtown Los Angeles. A rare find for 1031 exchange buyers, value-add investors, and owner-users alike

Location

State CA

County Los Angeles

Zoning Assessor

Direction N/Mission St, E/Orange Grove, W/Meridian Ave

Interior

Heating Forced Air Unit

Fireplace No

Exterior

Utilities Available Sewer Connected

View Y/N No

Roof Type Composition

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 5315016006

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

MLS Router / San Diego MLS
Listed by Fred Ashkar, DRE#00925837 Re/Max Premier Properties 
Co-listed byJohn Ashkar • Re/Max Premier Properties

Nearby Locations

Zach Arrington

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

+1(619) 374-5339

zach@zarealtygroup.com

1420 Kettner Blvd suite 100, San Diego, California 92101, USA

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622 Prospect