Sold

89 Hurlbut Street

Pasadena CA, 91105

$4,400,000


Sold

Condo

Built in 1961

Listed by Handoko Chen with GIG Real Estate Inc. 626-594-4901

89 Hurlbut St is a Pride-of-Ownership, turnkey/fully upgraded 9 units luxury apartment in the City of Pasadena. The property is located just steps away from Huntington Hospital Pasadena on Fair Oaks Ave, and within walking distance to Old Town Pasadena. The properties offer an investor the rare opportunity to own a high cash flowing apartment property in one of the most desirable locations in Pasadena. This prime & irreplaceable location, turn-key condition, combined with higher cap rate (compared to other properties in this area) offer investors attractive investment vehicle to combat raging inflation. This property offers higher allowable annual rent increases under California AB1482 (5% + CPI).

The property has been completely renovated from top to bottom, and offers an attractive mix of one 2bedroom, and eight 1bedroom units. The community is gated and has secured entrance with community swimming pool and art mural in the pool area. The property was built in 1961 and situated on a large +-10,493sf R3 lot. All the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades, new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split HVAC systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher, and refrigerator), and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures. The exterior upgrades include new entry gate, new parking gate, new exterior paint and signage, completely redone landscaping, updated electrical, and much more!

The ownership spent significant amount of time (+-12 months) and capital in relocating the previous tenants and completely upgraded the exterior and interior of the property, making this a completely turnkey investment for new owner. The property is separately metered for electricity and gas. Parking is provided by 9 carports in the back - there is no soft-story parking required. Given its excellent real estate fundamentals, complete renovation, and an irreplaceable location, the 89 Hurlbut St is an unparalleled investment for an investor seeking stable risk-adjusted returns, wealth preservation, and a hedge against inflation.

AR22124919

MLS ID

June 9, 2022

Listed

March 23, 2024

Updated

Map

89 Hurlbut Street
Pasadena CA, 91105

Interior Features

Total Stories

2


Appliances

6 Burner Stove, Dishwasher, Disposal, Gas Range, Microwave, Dryer, Washer


Floor Description

Laminate, Vinyl, Wood


Fireplace

Yes


Fireplace Description

Family Room


Cooling

Yes


Cooling Description

Ductless, ENERGY STAR Qualified Equipment, High Efficiency


Heating

Yes


Heating Description

Ductless

Exterior/Building Features

Lot Size

0.24 Acres


Lot Features

Street Level


Sewer

Public Sewer

Other Property Details

Area Name

647 - Pasadena (SW)


Days on Market

28


Garage

No


Parking

Assigned, Detached Carport


Parking Total

9


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

Community


Zoning

PSR3


Buyer Agency Compensation

2%

Listing Contact: 626-594-4901 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:37 AM UTC

 

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