Pending

1540 Laurel Street

South Pasadena CA, 91030

$6,195,000


$374.68 per sqft

Pending

24 Beds

24 Baths

16,534 sqft

Residential

Built in 1961

Listed by Josh Kaplan with Transwestern Property Company West, Inc. 213-430-2524

See DOCs section for OM. Property Description: 1540 Laurel St is a sixteen (16) unit apartment building consisting of eight (8)1bed+1bath units and eight (8) 2bed+2bath units. The property is a two-story16,534 square-foot garden style walk-up building with brick and wood frame and stucco construction situated on a large 19,992 square-foot lot. The excellent layout of the common area and the striking amount of warm landscaping creates a tranquil environment that provides the perfect opportunity for an investor to complete their own renovation plan in the units and significantly increase rents. The property also features a very well maintained pool with outdoor shower and central atrium area that while well landscaped, could be better utilized by including soft seating and a bbq area. The exterior of the building is lined with lattice woodwork features including a trellis in the atrium courtyard. Gated at grade garage parking includes 26spaces and a secure laundry room with newly updated machines. The walk-up entry in the front includes a secure keypad. Unit Details: All the units are very large and feature open kitchens, large bedrooms, and ample storage space. The units are very well maintained and most feature original finishes, providing a blank canvas for a new investor. Each ground floor unit features a private fenced off patio area and two of the larger units (13 and15) also feature their own complete large backyard space. A handful of units have central air, and the many feature wall AC units. All the units are separately metered for electricity and gas and the landlord pays for water/sewer and trash. The garage features 16 storage spaces in addition to a fully functioning dumbwaiter and trash chute. There is an additional large, paved area on the west side of the property that could be enclosed to use for additional tenant entertainment space.

23340855

MLS ID

December 19, 2023

Listed

March 28, 2024

Updated

Map

1540 Laurel Street
South Pasadena CA, 91030

Interior Features

Total Stories

2


Bedrooms

24 Beds


Bathrooms

24 Baths


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.46 Acres

Other Property Details

Area Name

658 - So. Pasadena


Days on Market

32


Garage

No


Parking

Gated


Parking Total

26


View

No


County

Los Angeles


Pool

No


Zoning

SPR310000*


Buyer Agency Compensation

1.75%

Listing History

Date

Event

Price

1/27/2024

Pending

Listing Contact: 213-430-2524 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. 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 3/28/2024 at 3:15 PM UTC

 

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