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515 N El Molino Ave, Pasadena, CA 91101
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515 N El Molino Ave Pasadena, CA 91101

$5,320,000
  • 20 Beds
  • 16 Baths
  • 11,794 Sq.Ft.
For Sale
$5,320,000 Get Pre-Qualified
Map preview of 515 N El Molino Ave, Pasadena, CA 91101

Property Overview: 515 N El Molino Ave Pasadena, CA has 20 bedrooms, 16 bathrooms, 11,794 living square feet and 21,030 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: Introducing a charming oasis in the heart of Pasadena: this 16-unit garden-style apartment building offers a serene living experience. Nestled amidst lush landscaping, each unit boasts modern comforts with a touch of classic elegance. There are a mix of one and two-bedroom floor plans that feature well maintained kitchens, gleaming hardwood floors in the ground floor apartments, and parking for each unit. Enjoy the California sun in the tranquil courtyard, perfect for relaxing or socializing. With convenient access to Pasadena's vibrant culture, shopping, and dining, this property provides the ideal blend of comfort and convenience. The allure of Pasadena living is at its finest in this picturesque, well-maintained community. This property is gated and had a new roof installed earlier this year in January 2023. Both the 515 and 517 buildings were repiped with pex in 2015 and 2017. The back carports have newer trusses and roof installed in 2020 with permits.

Listed by Mary Baldry | BRE #01927691 | Century 21 Village Realty
Co-listed by Nicholas Baldry | BRE #01958991 | Century 21 Village Realty
Last checked: 2 minutes ago | Last updated: February 13th, 2024 | Source CRMLS | DOM: 162
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Home details

Lot Sq. Ft
21,030
HOA Dues
$0/mo
Year built
1955
Garage
--
Property Type:
Apartment
Status
Active
MLS#
AR23201641
City
Pasadena
County
Los Angeles
Time on Site
178 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 2
  • # of Electric Meters: 16
  • # of Gas Meters: 16
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 12
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,847
  • Total Rent: $22,162
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,093
  • Total Rent: $6,280
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $900
  • Total Rent: $900
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.5%
  • Gross Rent Multiplier: 16
  • Gross Scheduled Income: $354,336
  • Net Operating Income: $239,060
  • Gross Operating Income: --
  • Laundry Income: $2,232
Annual Expense Breakdown
  • Total Operating Expense: $113,618
  • Electric: $1,718
  • Gas/Fuel: $618
  • Licenses: $694
  • Trash: $6,292
  • Gardener: $7,450
  • Insurance: $4,865
  • Professional Management: $0
  • Water/Sewer: $4,753

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Property Details for 515 N El Molino Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
  • Gas Range, Vented Exhaust Fan
Interior Features
  • Levels: Two
  • Security Features: Gated Community, Resident Manager, Smoke Detector(s)
Exterior Features
Exterior Information
  • Has Fence
  • Wood
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 16
  • Has Parking
  • Parking Features: Assigned, Carport, Attached Carport, Detached Carport
Lot Information
  • Lot Features: 16-20 Units/Acre, Garden, Sprinkler System
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 16
  • Parcel Number: 5731006014
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
  • Offered With Property: Stoves, washers, and dryers
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: South of Orange Grove Blvd and West of Lake Ave
Neighborhood Information
  • Community Features: Biking, Curbs, Foothills, Sidewalks, Street Lights, Suburban
View more facts & features

Local Pasadena Agent

Sale History for 515 N El Molino Ave

Last sold for $3,050,000 on July 26th, 2013

  • November, 2023

  • Nov 1, 2023

    Date

    Active

    CRMLS: AR23201641

    $5,600,000

    Price

  • July, 2013

  • Jul 26, 2013

    Date

    Sold (Public Records)

    Public Records

    $3,050,000

    Price

  • December, 1999

  • Dec 1, 1999

    Date

    Sold (Public Records)

    Public Records

    $269,500

    Price

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Tax History for 515 N El Molino Ave

Assessed Value (2020): $3,421,279
Year Land Value Improved Value Assessed Value
2020 $2,578,059 $843,220 $3,421,279

Home Value Compared to the Market

This property vs the competition

515 N El Molino Ave is listed 343.7% 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 $798 and this home is listed at $451.08 per/sqft which puts the price per square foot 43.47% lower than the median price per square foot for the city of Pasadena.

About 515 N El Molino Ave

Detailed summary of property

515 N El Molino Ave is a apartment located in Pasadena, CA 91101 and is currently for sale. This apartment offers 20 bedrooms, 16 bathrooms, roughly 11,794 living square feet, and sits on an approximately 21,030 square foot lot. 515 N El Molino Ave was first listed on ArdentRealEstateGroup.com on November 1, 2023. The homeowner is currently asking $5,320,000 and was originally asking $5,600,000. The median priced home in Pasadena is $1,199,000 with a median price per square foot of $798. Based on Ardent Real Estate Group's Pasadena Market Data, this home is listed 343.7% 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 59 days, 515 N El Molino Ave has a days on market of 162 days. There are currently 255 homes for sale in the Pasadena real estate market and 155 of them are single family homes while 76 of them are condos and 24 are townhomes. For more information on this home for sale at 515 N El Molino Ave Pasadena, CA 91101 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 515 N El Molino Ave

Public county record property details
Beds
20
Baths
16
Year built
1955
Sq. Ft.
11,794
Lot Size
21,023
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1,11
APN
5731-006-014

The source for these homes facts are from public records.

91101 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$699,000
Median List Price/Sq.Ft.
$688
Median Sold Price
$780,000
Median Sold Price/Sq.Ft.
$653
Total Inventory
46
Median Sale to List Price %
101.3%
Avg Days on Market
17
Loan Type
Conventional (28.57%), FHA (0%), VA (0%), Cash (28.57%), Other (14.29%)

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Recently Sold Homes Near 515 N El Molino Ave

471 N El Molino Ave, Pasadena, CA 91101
$1,398,000 Last Sold Price
7 Beds
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710 Santa Barbara St, Pasadena, CA 91101
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-- Sq.Ft.
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4 Beds
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739 E Villa St
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642 N El Molino Ave, Pasadena, CA 91101
$1,299,999 Last Sold Price
3 Beds
3 Baths
1552 Sq.Ft.
642 N El Molino Ave
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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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