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585 N Hill Ave, Pasadena, CA 91106
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585 N Hill Ave Pasadena, CA 91106

$3,900,000 Sold Price as of 04/09/2021
  • 26 Beds
  • 18 Baths
  • -- Sq.Ft.
Sold
$3,900,000 Sold Price as of 04/09/2021 Refinance Your Mortgage
Map preview of 585 N Hill Ave, Pasadena, CA 91106

Property Overview: 585 N Hill Ave Pasadena, CA has 26 bedrooms, 18 bathrooms, -- living square feet and 16,670 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are proud to present the Hill Avenue Apartments. An incredible investment opportunity located in beautiful Pasadena. This amazing 14 Unit garden style complex has been cared for by the current ownership since 1972 with quality improvements being made upon unit turnover. The property has secured entry and parking with an open grass common area. Small private patios and balconies for each unit- create a very cozy feeling on the property. The building boasts a solid unit mix of a large townhouse style 3 Bedroom with additional 3 Beds, 2 Beds, and 1 Bedroom apartments all individually metered for gas and electricity. Built in 1963, the building offers spacious units most of which have been meticulously renovated, including copper plumbing yet leaving the next owner approximately 35% rental upside. Most tenants are long term, and the asset has an onsite laundry room with parking for every unit. The property has been well cared for and is ready for the next owner to maximize the buildings potential. Hurry, this deal will move fast and fit perfectly in all size real estate portfolios!

Listed by Andrea Marcum-Valentine | BRE #01737314 | eXp Realty of California, Inc.
Co-listed by Justin McCardle | BRE #01895720 | GIG Real Estate Inc.
Last checked: 3 minutes ago | Last updated: January 6th, 2023 | Source CRMLS | DOM: 19

Home details

Lot Sq. Ft
16,670
HOA Dues
$0/mo
Year built
1963
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
P1-3432
City
Pasadena
County
Los Angeles
Time on Site
1308 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: 1
  • # of Electric Meters: 15
  • # of Gas Meters: 15
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: --
  • # of Beds: 26
  • # of Baths: 18
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $17,227
  • Total Rent: $17,227
  • Pro Forma/Market Rent: $27,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.19%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $206,718
  • Net Operating Income: $118,000
  • Gross Operating Income: --
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $83,680
  • Electric: $73
  • Gas/Fuel: $1,914
  • New Taxes: $41,313
  • Trash: $2,846
  • Insurance: $5,957
  • Professional Management: $689
  • Water/Sewer: $6,070

Property Details for 585 N Hill Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • Has Fireplace
Kitchen Information
  • Has Appliances
  • Gas Water Heater
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Composition
  • Has Fence
  • Security, Wood
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 14
  • Has Parking
  • Parking Features: Assigned, On Site, Attached Carport
Lot Information
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
Property Information
  • No View
  • View: None
  • Common Walls: No Common Walls
  • Total # of Units: 14
  • Parcel Number: 5739019020
  • Year Built Source: Assessor
  • Property is not Attached
  • Offered With Property: Coin operated washer and dryers.
Homeowners Association, Utilities, Taxes / Assessments
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Subdivision Name: Not Applicable
  • Directions: From the 210 Freeway East, Exit Hill Ave and turn Left. The destination is on your left.
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Pasadena Agent

Sale History for 585 N Hill Ave

Last sold on January 25th, 2021

  • January, 2021

  • Jan 25, 2021

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • September, 2016

  • Sep 14, 2016

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 585 N Hill Ave

Assessed Value (2020): $1,072,430
Year Land Value Improved Value Assessed Value
2020 $270,741 $801,689 $1,072,430

Home Value Compared to the Market

This property vs the competition

585 N Hill Ave sold on April 9, 2021 for 208.33% higher than the current median sold price for the city of Pasadena which is $1,200,000.

About 585 N Hill Ave

Detailed summary of property

585 N Hill Ave is a multi family that recently sold in Pasadena, CA 91106. This multi family property offered 26 bedrooms, 18 bathrooms, roughly -- living square feet, and sits on an approximately 16,670 square foot lot. 585 N Hill Ave was first listed on ArdentRealEstateGroup.com on February 20, 2021. The homeowner sold the property for $3,900,000. Home in Pasadena are selling for a median price of $1,200,000 and a median price per square foot of $781. Based on Ardent Real Estate Group's Pasadena Market Data, this home is sold 208.33% higher than the current median priced home. Local homes that are currently for sale include 138 N Soto St, 1006 S Record Ave and 2505 Berkeley St. While the average home in Pasadena, CA is selling in 56 days, 585 N Hill Ave has a days on market of 19 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 585 N Hill 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 585 N Hill Ave

Public county record property details
Beds
--
Baths
18
Year built
1963
Sq. Ft.
12,769
Lot Size
16,670
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
28,29
APN
5739-019-020

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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