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51 S Allen Ave, Pasadena, CA 91106
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51 S Allen Ave Pasadena, CA 91106

$2,750,000
  • 11 Beds
  • 9.75 Baths
  • 5,150 Sq.Ft.
For Sale
$2,750,000 Get Pre-Qualified
Map preview of 51 S Allen Ave, Pasadena, CA 91106

Property Overview: 51 S Allen Ave Pasadena, CA has 11 bedrooms, 9.75 bathrooms, 5,150 living square feet and 8,604 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: This unique 6-unit apartment building in the heart of Pasadena offers a compelling investment opportunity with a diverse unit mix: one three-bedroom unit with 2.5 baths, three two-bedroom units with 1.75 baths each, and two one-bedroom units with 1 bath each, all fully occupied by reliable tenants. Managed efficiently, the property is well-maintained and has undergone significant remodeling, with five units renovated between 2010 and 2019, and one unit newly remodeled in 2023. It features individual metering for gas and electricity, while the owner covers water, gardening, trash, and common area electricity costs. Parking is ample with 9 tuck-under spaces. Recent updates include a new roof installed in 2023 and new electric sub-panels for each unit. Additional amenities include private balconies for four units, a laundry area with new metered washer and dryers for added income. Located near Pasadena City College (PCC), CalTech University, and various dining options. This property not only offers residential attractiveness but also promising income potential, making it a solid investment choice.

Listed by Vincent Yan | BRE #00977818 | Berkshire Hathaway HomeServices California Properties
Last checked: 4 minutes ago | Last updated: August 15th, 2024 | Source CRMLS | DOM: 67

Home details

Lot Sq. Ft
8,604
HOA Dues
$0/mo
Year built
1979
Garage
--
Property Type:
Apartment
Status
Active
MLS#
TR24130952
City
Pasadena
County
Los Angeles
Time on Site
69 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Leased Units: 6
  • # of Electric Meters: 7
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,550
  • Total Rent: $2,550
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,350
  • Total Rent: $2,350
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $2,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.35%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $148,200
  • Net Operating Income: $119,761
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $28,439
  • Electric: $589
  • Gas/Fuel: $2,173
  • Trash: $860
  • Gardener: $780
  • Insurance: $2,660
  • Professional Management: $0
  • Water/Sewer: $3,800

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Property Details for 51 S Allen Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central, Forced Air
Laundry Information
  • Has Laundry
  • Dryer Included, In Carport, Washer Included
Fireplace Information
  • No Fireplace
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Shingle
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Assigned, Carport, Covered
Lot Information
  • Lot Features: Lot 6500-9999, Rectangular Lot, Level, Sprinkler System, Sprinklers In Front
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 6
  • Parcel Number: 5736025030
  • Year Built Source: Assessor
  • Entry Level: 2
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: East of Hill Ave, South of Colorado Blvd.
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Suburban
View more facts & features

Local Pasadena Agent

Sale History for 51 S Allen Ave

Last leased for $2,375 on March 30th, 2023

  • July, 2024

  • Jul 12, 2024

    Date

    Active

    CRMLS: TR24130952

    $2,850,000

    Price

  • July, 2024

  • Jul 11, 2024

    Date

    Canceled

    CRMLS: TR24137455

    $2,600

    Price

  • Jul 5, 2024

    Date

    Active

    CRMLS: TR24137455

    $2,600

    Price

  • Listing provided courtesy of CRMLS

    Beautifully remodeled 2 Br 2 Bath 2nd story unit with upgraded wood flooring throughout. Airy and bright. Features include a granite kitchen countertop, gas stove, range hood & gated private community, one assigned parking space, and plenty of street parking. Conveniently located in the heart of Pasadena, CA near Lake Ave, with many neighboring restaurants, LA Fitness, shopping, PCC and Caltech all walking distance with quick and easy access to the 210 Freeway.

  • March, 2023

  • Mar 30, 2023

    Date

    Leased

    CRMLS: RS23047279

    $2,375

    Price

  • Mar 22, 2023

    Date

    Active

    CRMLS: RS23047279

    $2,375

    Price

  • Listing provided courtesy of CRMLS

    Clean and remodeled upstairs unit with fresh paint. 2 bedrooms, 2 bathrooms gated apartment with balcony. Walking distance to PCC, CalTech and Metro Goldline - Trash, water, and gardening included. 2 carports, enclosed storage area in carports.

  • March, 2021

  • Mar 22, 2021

    Date

    Leased

    CRMLS: RS21044335

    $2,550

    Price

  • Mar 17, 2021

    Date

    Pending

    CRMLS: RS21044335

    $2,550

    Price

  • Mar 3, 2021

    Date

    Active

    CRMLS: RS21044335

    $2,550

    Price

  • Listing provided courtesy of CRMLS

    Clean and newly remodeled and newly painted 3 bed, 3 bath gated apartment with balcony. Walking distance to PCC, CalTech and Metro Goldline - trash, water, and gardening included. 2 carports, enclosed storage area in carports. Thank you.

  • February, 2021

  • Feb 28, 2021

    Date

    Leased

    CRMLS: RS20226166

    $1,800

    Price

  • Feb 16, 2021

    Date

    Price Change

    CRMLS: RS20226166

    $1,800

    Price

  • Oct 27, 2020

    Date

    Active

    CRMLS: RS20226166

    $2,075

    Price

  • Listing provided courtesy of CRMLS

    Clean and newly remodeled and newly painted 2 bed, 2 bath gated apartment with balcony. Walking distance to PCC, CalTech and Metro Goldline - trash, water, and gardening included. 2 carports, enclosed storage area in carports. Thank you.

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Tax History for 51 S Allen Ave

Assessed Value (2020): $1,085,043
Year Land Value Improved Value Assessed Value
2020 $434,013 $651,030 $1,085,043

Home Value Compared to the Market

This property vs the competition

51 S Allen Ave is listed 120% higher than the median list price for the city of Pasadena which has a median list price of $1,250,000. The median price per/sqft for Pasadena is $767 and this home is listed at $533.98 per/sqft which puts the price per square foot 30.38% lower than the median price per square foot for the city of Pasadena.

About 51 S Allen Ave

Detailed summary of property

51 S Allen Ave is a apartment located in Pasadena, CA 91106 and is currently for sale. This apartment offers 11 bedrooms, 9.75 bathrooms, roughly 5,150 living square feet, and sits on an approximately 8,604 square foot lot. 51 S Allen Ave was first listed on ArdentRealEstateGroup.com on July 12, 2024. The homeowner is currently asking $2,750,000 and was originally asking $2,850,000. The median priced home in Pasadena is $1,250,000 with a median price per square foot of $767. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 120% higher than the median priced home. Local competing homes currently for sale include 3650 Eagle Rock Blvd, 2119 N Broadway and 3235 Andrita St. While the average home in Pasadena, CA is selling in 56 days, 51 S Allen Ave has a days on market of 67 days. There are currently 335 homes for sale in the Pasadena real estate market and 179 of them are single family homes while 119 of them are condos and 37 are townhomes. For more information on this home for sale at 51 S Allen 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 51 S Allen Ave

Public county record property details
Beds
11
Baths
11
Year built
1979
Sq. Ft.
5,150
Lot Size
8,603
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5736-025-030

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
$1,080,000
Median List Price/Sq.Ft.
$719
Median Sold Price
$850,000
Median Sold Price/Sq.Ft.
$753
Total Inventory
59
Median Sale to List Price %
100%
Avg Days on Market
29
Loan Type
Conventional (27.27%), FHA (0%), VA (0%), Cash (50%), Other (18.18%)

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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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