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437 N Chester Ave, Pasadena, CA 91106
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437 N Chester Ave Pasadena, CA 91106

$5,200,000
  • 24 Beds
  • 25 Baths
  • 13,368 Sq.Ft.
Pending
$5,200,000 Get Pre-Qualified
Map preview of 437 N Chester Ave, Pasadena, CA 91106

Property Overview: 437 N Chester Ave Pasadena, CA has 24 bedrooms, 25 bathrooms, 13,368 living square feet and 15,011 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: PROPERTY HIGHLIGHTS -Price Reduced for Immediate Sale, Seller Has Upleg Property In Escrow -Assumable Chase Loan at 3.45% -For Sale by Original Owner/Developer -Excellent Mix of 1 & 2-Bedroom Units with Large Floorplans -1989 Construction -7.5% Cap Rate on Market Rents

Listed by Doug Rodermund | BRE #01314304 | Morgan Skenderian
Last checked: 3 minutes ago | Last updated: April 8th, 2024 | Source CRMLS | DOM: 146
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Home details

Lot Sq. Ft
15,011
HOA Dues
$0/mo
Year built
1989
Garage
26 Car
Property Type:
Apartment
Status
Pending
MLS#
PW23211119
City
Pasadena
County
Los Angeles
Time on Site
165 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 17
  • Total # of Buildings: 1
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,350
  • Total Rent: $1,350
  • Pro Forma/Market Rent: $1,695
Unit Breakdown 2
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,793
  • Total Rent: $14,344
  • Pro Forma/Market Rent: $2,095
Unit Breakdown 3
  • # of Units: 8
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,171
  • Total Rent: $13,800
  • Pro Forma/Market Rent: $2,795
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.3%
  • Gross Rent Multiplier: 12.99
  • Gross Scheduled Income: $400,368
  • Net Operating Income: $275,613
  • Gross Operating Income: $388,356
  • Vacancy Allowance: $12,011
  • Laundry Income: $1,440
Annual Expense Breakdown
  • Total Operating Expense: $112,743
  • Electric: $9,382
  • Gas/Fuel: $9,382
  • Licenses: $1,000
  • New Taxes: $61,114
  • Trash: $9,382
  • Gardener: $2,400
  • Insurance: $3,800
  • Maintenance: $1,500
  • Professional Management: $0
  • Water/Sewer: $9,382
  • Other Expenses: $4,800
  • Other Expense Description: on-site

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Property Details for 437 N Chester Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 26
  • # of Parking Spaces: 26
  • Has Parking
  • Parking Features: Subterranean
Lot Information
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 17
  • Parcel Number: 5739003056
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Assessment Information
  • Has Assessments
  • Assessments: Special Assessments
Location / Neighborhood
Location Information
  • Directions: Property is off of Maple Street and Chester Ave
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

Local Pasadena Agent

Sale History for 437 N Chester Ave

Last sold for $5,000 on December 30th, 1992

  • April, 2024

  • Apr 8, 2024

    Date

    Pending

    CRMLS: PW23211119

    $5,200,000

    Price

  • Nov 14, 2023

    Date

    Active

    CRMLS: PW23211119

    $6,200,000

    Price

  • June, 2021

  • Jun 11, 2021

    Date

    Canceled

    CRMLS: PW21015797

    $5,750,000

    Price

  • Jun 5, 2021

    Date

    Active

    CRMLS: PW21015797

    $5,750,000

    Price

  • May 5, 2021

    Date

    Hold

    CRMLS: PW21015797

    $5,750,000

    Price

  • Jan 25, 2021

    Date

    Active

    CRMLS: PW21015797

    $5,750,000

    Price

  • Listing provided courtesy of CRMLS

    437 N. Chester Avenue is located in the city of Pasadena, a city located northeast of Downtown Los Angeles. Pasadena is known for its historic Old Town, its bustling downtown, and its iconic Rose Bowl, home of the world-famous Rose Bowl Game. Pasadena is ideally located near the 210, 134, & 110 Freeways offering residents easy access to all parts of Los Angeles County. This investment opportunity at 437 N. Chester Avenue is composed of (1) non-conforming studio, (8) one-bedroom/one-bathroom units & (8) two-bedroom/ two-bathroom units. Tenants enjoy amenities such as subterranean garage parking, patios & balconies, and on-site laundry. Located near all the best parts of Pasadena and offering considerable upside potential, 437 N. Chester Avenue is a truly excellent investment opportunity. *For Sale by Original Owner/Developer, *Excellent Mix of 1 & 2-Bedroom Units with Large Floorplans, *1989 Constructions, *Ideal Location Near Old Pasadena, Downtown, Pasadena City College & Rose Bowl, *New Pitched Roof, * Tremendous Upside in Rents

  • March, 2019

  • Mar 21, 2019

    Date

    Expired

    CRMLS: PW18230152

    $5,790,000

    Price

  • Oct 22, 2018

    Date

    Price Change

    CRMLS: PW18230152

    $5,790,000

    Price

  • Sep 20, 2018

    Date

    Active

    CRMLS: PW18230152

    $5,990,000

    Price

  • Listing provided courtesy of CRMLS

    437 N. Chester Avenue is located in the city of Pasadena, a city located northeast of Downtown Los Angeles. Pasadena is known for its historic Old Town, its bustling downtown, and its iconic Rose Bowl, home of the world famous Rose Bowl Game. Pasadena is ideally located near the 210, 134, & 110 Freeways offering residents easy access to all parts of Los Angeles County. This investment opportunity at 437 N. Chester Avenue is composed of (1) non-conforming studio, (8) one bedroom/one bathroom units & (8) two bedroom/ two bathroom units. Tenants enjoy amenities such as subterranean garage parking, patios & balconies and on-site laundry. Located near all the best parts of Pasadena and offering considerable upside potential, 437 N. Chester Avenue is a truly excellent investment opportunity. *For sale by Original Owner/Developer, *Excellent Mix of 1 & 2-Bedroom Units with Large Floorplans, *1989 Construction, *Ideal Location Near Old Pasadena, *Downtown, *Pasadena City College & Rose Bowl, *New Pitched Roof, *Tremendous Upside in Rents, *Not Subject to Rent Control

  • December, 1992

  • Dec 30, 1992

    Date

    Sold (Public Records)

    Public Records

    $5,000

    Price

Show More

Tax History for 437 N Chester Ave

Assessed Value (2020): $1,853,325
Year Land Value Improved Value Assessed Value
2020 $486,210 $1,367,115 $1,853,325

Home Value Compared to the Market

This property vs the competition

437 N Chester Ave is listed 333.69% higher than the median list price for the city of Pasadena which has a median list price of $1,199,000. The median price per/sqft for Pasadena is $796 and this home is listed at $388.99 per/sqft which puts the price per square foot 51.13% lower than the median price per square foot for the city of Pasadena.

About 437 N Chester Ave

Detailed summary of property

437 N Chester Ave is a apartment located in Pasadena, CA 91106 and is currently in escrow to be sold. This apartment offers 24 bedrooms, 25 bathrooms, roughly 13,368 living square feet, and sits on an approximately 15,011 square foot lot. 437 N Chester Ave was first listed on ArdentRealEstateGroup.com on November 14, 2023. The homeowner is currently asking $5,200,000 and was originally asking $6,200,000. The median priced home in Pasadena is $1,199,000 with a median price per square foot of $796. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 333.69% higher than the median priced home. Local competing homes currently for sale include 2221 Michigan Ave, 1244 Innes Ave and 2512 Berkeley Ave. While the average home in Pasadena, CA is selling in 55 days, 437 N Chester Ave has a days on market of 146 days. There are currently 259 homes for sale in the Pasadena real estate market and 153 of them are single family homes while 83 of them are condos and 23 are townhomes. For more information on this home for sale at 437 N Chester Ave Pasadena, CA 91106 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 437 N Chester Ave

Public county record property details
Beds
--
Baths
--
Year built
1989
Sq. Ft.
13,368
Lot Size
15,011
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
5,6
APN
5739-003-056

The source for these homes facts are from public records.

91106 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,160,000
Median List Price/Sq.Ft.
$774
Median Sold Price
$810,000
Median Sold Price/Sq.Ft.
$634
Total Inventory
43
Median Sale to List Price %
95.41%
Avg Days on Market
43
Loan Type
Conventional (23.53%), FHA (0%), VA (0%), Cash (11.76%), Other (41.18%)

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Recently Sold Homes Near 437 N Chester Ave

418 N Chester Ave, Pasadena, CA 91106
$1,170,000 Last Sold Price
8 Beds
4 Baths
2852 Sq.Ft.
418 N Chester Ave
Pasadena, CA 91106
420 N Michigan Ave, Pasadena, CA 91106
$1,190,000 Last Sold Price
5 Beds
4 Baths
2554 Sq.Ft.
420 N Michigan Ave
Pasadena, CA 91106
382 N Michigan Ave, Pasadena, CA 91106
$902,000 Last Sold Price
3 Beds
2 Baths
1614 Sq.Ft.
382 N Michigan Ave
Pasadena, CA 91106
532 N Chester Ave, Pasadena, CA 91106
$935,500 Last Sold Price
-- Beds
-- Baths
-- Sq.Ft.
532 N Chester Ave
Pasadena, CA 91106

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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, 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.

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