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33176523
33176524

2 Locations For Sale

Coldwell Banker Commercial NRT Pasadena
Coldwell Banker Commercial NRT Pasadena
Listed by Coldwell Banker Commercial NRT Pasadena
$2,950,000
51 days on market
Updated 37 days ago

665 & 671 Richland Street

Details
APN 1047-221-50-0000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,504
Units 12
Cap Rate 5.90%
NOI $174,563
Tenancy Multi
Lot Size (SqFt) 19,000
Investment Type Stabilized

Multifamily | 5.90% CAP | 12 Units

Marketing description

We are pleased to present for acquisition a stabilized 12-unit multifamily property ideally situated at the terminus of a quiet cul-de-sac. This offering represents a compelling opportunity for the discerning multifamily investor seeking a well-amenitized asset with meaningful upside potential in both income and density.

The subject property is positioned on an expansive 19,000 square foot lot and features a highly desirable unit amenity package, including dedicated single-car garages and central air HVAC systems for each of the twelve residences. These in-unit amenities are consistent with institutional-quality multifamily offerings and serve as a strong foundation for achieving and sustaining market-rate rents. On-site laundry facilities and additional garages designated for storage provide supplemental income streams that further enhance the property's overall revenue profile.

This offering is well-suited for the experienced multifamily investor, a 1031 exchange purchaser, or an owner-operator seeking to deploy capital into an asset that offers both durable in-place cash flow and a clearly defined path to value creation.

The property benefits from a desirable residential setting, tucked away from through traffic within a low-density cul-de-sac environment - a characteristic that supports strong tenant demand and above-average retention. Notwithstanding its tranquil setting, the property affords convenient and direct access to the Interstate 10 Freeway, providing residents with seamless connectivity to major regional employment centers, retail amenities, and transportation infrastructure.

Investment highlights

  • 12-Unit Multifamily Investment Offering | Exceptional Value-Add Potential
  • Stabilized 12-unit multifamily property ideally situated at the terminus of a quiet cul-de-sac
  • Positioned on an expansive 19,000 square foot lot
  • Dedicated single-car garages and central air HVAC systems for each of the twelve residences
  • On-site laundry facilities and additional garages designated for storage provide supplemental income streams
  • Well-suited for the experienced multifamily investor, a 1031 exchange purchaser, or an owner-operator
  • Current in-place rents reflect meaningful upside to prevailing market rates
  • Substantial 19,000 square foot lot affords considerable development optionality, including the potential addition of Accessory Dwelling Units (ADUs)
  • Desirable residential setting, tucked away from through traffic within a low-density cul-de-sac environment
  • Convenient and direct access to the Interstate 10 Freeway

Listing Contacts

Coldwell Banker Commercial NRT Pasadena
Coldwell Banker Commercial NRT Pasadena
Listed by Coldwell Banker Commercial NRT Pasadena

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$174,562.65
$14,546.89/mo

Valuation Metrics

0
DSCR
5.92%
Cap Rate
5.92%
ROI

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