780 Earlham st, Pasadena, CA 91101

Active

$5,600,000

16 Units

3 Beds

3 Baths

14,468 Area(sq.ft.)

Lot: 16,801 Lot Size(sq.ft.)

Type	# of Units	Bedroom	Bath	Furnished	Rent	Actual Rent	Projected Rent
Unit 1	4	1	1	No	$ 2,109	$ 8,436	$ 2,495
Unit 2	12	2	2	No	$ 2,624	$ 31,488	$ 3,095
	16	28	28		$ 39,924	$ 411,600	$ 47,120

MLS #:	PW24242697MR
Days On Market:	369
Listing Date:	December 2, 2024
County:	Los Angeles
Property Type:	Residential Income
Price per ft²:	$ 387
Price per unit:	$ 350,000
Year Built:	1964

Income Details / Structure / Land & Parking / Interior Features / Exterior Features

Property Details

We are pleased to present Sharlotte Apartments, a 16-unit apartment community in Pasadena, CA. This property features an excellent unit mix consisting of majority 2-bedroom 2-bath units with balconies/patios, gated entry, covered parking, individual gas and electric meters, and a sparkling pool. The building has undergone several exterior upgrades such as soft story retrofitting, reinforced balconies & decks, all new windows, new electric panels, and a new roof (2021). The interiors have been tastefully renovated with granite countertops, new cabinetry, stainless steel appliances, recessed LED lighting, laminate wood flooring or new carpet, and upgraded bathrooms. This multigenerational asset has been meticulously maintained throughout ownership and is on the market for the first time in 48 years. With strong in-place rents, the property generates a current cap rate of 5.7%, 7.1% with market rents, offering an investor roughly 20% upside in rental income. This trophy asset is ideal for investors seeking a well-maintained, well-located turnkey asset with upside potential and no differed maintenance.