90 -92 Monterey Road,South Pasadena, CA 91030
South Pasadena, CA 91030
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 systems, individually metered utilities, renovated interiors, and completed capital improvements, Monterey Terrace Apartments offers investors a stabilized multifamily opportunity with additional value potential.
Details
| MLS # | WS26180702 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1963 |
| Days On Site | 7 |
| Listing Provided By | Keller Williams Realty/Pasadena | KEVIN LUTZ |
Features
| SQ Feet | 8,355 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 12 |
| Building(s) | 3 |
| Acreage | 0.32 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Lot Features | Street Level |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Gutters |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | South Pasadena |
| Zip Code | 91030 |
| Area | 658 So. Pasadena |
| Listing VS Median (in 91030) | |
Price: $3,975,000 low | high Med: $2,780,000 sqft: 8,355 low | high Med: 4,676 $ / sqft: $476 low | high Med: $595 On site: 7 low | high Med: 30 | |
Market Activity 91030
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | South Pasadena |
| Zip Code | 91030 |
| Area | 658 So. Pasadena |
| Listing VS Median (in 91030) | |
Price: $3,975,000 low | high Med: $2,780,000 sqft: 8,355 low | high Med: 4,676 $ / sqft: $476 low | high Med: $595 On site: 7 low | high Med: 30 | |
 | $2,050,000218 ThorneLos Angeles, CA 90042 |