A HIGH CAP Rate and almost turnkey 12-unit + 3 ADUs garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. With CAP Rate Close to 5% in a Class-A Location, Single-story duplexes layout, and Arcadia adjacent location, this offering provides an extremely rare opportunity for investors to acquire a beautifully upgraded apartment in an excellent location in Pasadena. Six out of 12 units (50%) have been completely upgraded and provides new owners with immediate market rent without having to deal with tenant relocation and units upgrade process. The property is a beautiful asset with attractive four single-story duplexes and one two-story fourplex in the back. It is located in a mature and quiet residential neighborhood with superb access to many City of Pasadena and City of Arcadia have to offer. It is near Target shopping center, Hastings Ranch neighborhood in Pasadena and located close to City of Arcadia border with Santa Anita Mall just minutes away. The property was built in 1946 and underwent massive renovation in 2023-2024. It is situated on an oversized ±20,570 SF lot size with medium density zoning RM-32 (32 units/Acre). It has excellent curb appeal with front drought tolerant landscaping, new wrought-iron gate and fencing, and many more upgrades. It offers an attractive unit mix of 8 x 1bedroom+1bathroom, 4 x Studio, and will be built 3 x New ADUs 1bedroom+1bathroom. Each unit is bright with an excellent layout. Six out of 12 units have been fully upgraded with high-end finishings such as brand-new flooring throughout, brand new kitchen with kitchen island complete with high-end cabinets and quartz countertops, brand new bathroom complete with tiled bathroom and new vanity cabinets, new mini-split HVAC system in living room and bedroom, and brand new almost everything. The upgraded unit comes with laundry machines. Four back units have large private balcony/patio. There is a large common area backyard in the back, complete with a large fruit producing Avocado tree. Parking is provided by 12 parking spaces where each of the 4 duplexes has 2 parking spaces in between the units (no shared wall between units). The remaining 4 parking spaces are in the back fourplex. Each unit has an individual water heater and separately metered for electricity and gas. The owner is in the process of obtaining final approval for 3 ADUs and the price includes the 3 ADUs built.
Property Details
Property Features
Property Information:
Architectural Style: Bungalow
Year Built: 1946
Stories: 2
Listing Office:
Office Name: Growth Investment Group Pasade
Office Phone: (626) 224-2495
Listing Agent: Han Chen
Interior Features
Interior Information:
Appliances: Dryer, Washer
Flooring Type: Laminate, Vinyl, Wood
Fireplace: None
Exterior Features
Exterior Information:
Private Pool: No
View: Mountain(s)
Parking Information:
Parking: Attached Carport, Assigned, Carport
Lot Features
Lot Information:
Lot: Back Yard, Lawn, Landscaped, Near Public Transit, Rectangular Lot
Lot Size: 0.47 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: Wall/Window Unit(s)
School Info
Assigned Schools Information:
Marshall Fundamental, Public District Grades 6-12
Blair High School, Public Magnet Grades 6-12
Willard Elementary School, Public Magnet Grades KG-5
Norma Coombs Alternative, Public District Grades KG-5
Don Benito Fundamental, Public District Grades KG-5
Other
Directions Information:
Directions: south of Colorado Blvd & 210 FWY, 2 blocks west of Madre St
Price Information
Listing Price Info
Price Summary:
List Price: $5,800,000
Tax Information:
Annual Amount: $4,167
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Pasadena, CA.
This property is $4.6M more than the Median Sold Price in Pasadena, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #AR24082052
Listing Office:
Office Name: Growth Investment Group Pasade
Office Phone: (626) 224-2495
Listing Agent: Han Chen
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/5/2024, 3:20:38 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$4,167
$204,695
2020
$4,062
$202,597
2019
$3,738
$198,625
2018
$3,678
$194,732
2017
$3,678
$190,914
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
4
/10
Willard Elementary School
301 Madre St
Distance between this listing and this school0.47 miles
Public Magnet Grades KG-5
7
/10
Norma Coombs Alternative
2600 Paloma St
Distance between this listing and this school1.05 miles
Public District Grades KG-5
6
/10
Don Benito Fundamental
3700 Denair St
Distance between this listing and this school2.02 miles
Public District Grades KG-5
High School
5
/10
Marshall Fundamental
990 N Allen Ave
Distance between this listing and this school1.86 miles
Public District Grades 6-12
5
/10
Blair High School
1201 S Marengo Ave
Distance between this listing and this school3.52 miles
Public Magnet Grades 6-12
Assigned Schools
4
/10
Willard Elementary School
301 Madre St
Distance between this listing and this school0.47 miles
Public Magnet Grades KG-5
7
/10
Norma Coombs Alternative
2600 Paloma St
Distance between this listing and this school1.05 miles
Public District Grades KG-5
6
/10
Don Benito Fundamental
3700 Denair St
Distance between this listing and this school2.02 miles
Public District Grades KG-5
Nearby Schools
8
/10
Oak Avenue Intermediate School
6623 Oak Ave
Distance between this listing and this school2.15 miles
Public District Grades 7-8
8
/10
Sierra Madre Elementary School
141 W Highland Ave
Distance between this listing and this school2.33 miles
Public District Grades KG-8
9
/10
Huntington Middle School
1700 Huntington Dr
Distance between this listing and this school2.34 miles
Public District Grades 6-8
Assigned Schools
5
/10
Marshall Fundamental
990 N Allen Ave
Distance between this listing and this school1.86 miles
Public District Grades 6-12
5
/10
Blair High School
1201 S Marengo Ave
Distance between this listing and this school3.52 miles
Public Magnet Grades 6-12
Nearby Schools
2
/10
Opportunities For Learning - Baldwin Park
320 N Halstead St
Distance between this listing and this school0.77 miles
The neighbors living near this home have an average income of $75,586. The majority of Pasadena, CA residents have income between $35k-100k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 60 El Nido Ave
What is the listing price of this property?
The listing price of 60 El Nido Ave property is $5,800,000.
What type of property is this?
The property 60 El Nido Ave is a condo located in Pasadena, California, 91107.
Is this property for sale now?
Active Listing: 60 El Nido Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 60 El Nido Ave are: Willard Elementary School: GreatSchools Rating 4/10Norma Coombs Alternative: GreatSchools Rating 7/10Don Benito Fundamental: GreatSchools Rating 6/10Marshall Fundamental: GreatSchools Rating 5/10Blair High School: GreatSchools Rating 5/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $4,167 (source: MLS/based on county public records data).
Which year was this property built?
The year of construction for 60 El Nido Ave is 1946.
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This home is located at 60 El Nido Ave in Pasadena, CA and zip code 91107 in the The Verdugos neighborhood. This home, which was built in 1946, sits on a 0.47 acre lot. It has been listed on Rocket Homes since April 24, 2024 and is currently priced at $5,800,000.
While more than 49 listings in Pasadena, CA in April 2024 were sold above asking price, there were more than 9 listings sold at asking price, and more than 26 were sold below. In April 2024 in Pasadena, CA there were 12.9% more homes for sale than in March 2024. While the average time on the market in April 2024 was 34 days, the median list price was $1,199,018.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
Symphony or Opera
Symphony or Opera
Hiking/backpacking
Major League Soccer (MLS)
Chico's
Nordstrom Rack
Banana Republic
Boston Market
Chipotle
Sonic
Volvo
Mazda
Infiniti
Talk/Personality
Rock
Urban Contemporary