686 S Grand Avenue, Pasadena, CA 91105
- $2,725,000
- Sold Price
- $2,725,000
- List Price
- $2,500,000
- Closing Date
- Jan 09, 2024
- Status
- CLOSED
- MLS#
- P1-15978
- Year Built
- 1917
- Lot Size
- 12,018
- Acres
- 0.28
- Lot Location
- Landscaped, Sprinklers None
- Days on Market
- 0
- Property Type
- Multifamily
- Style
- Bungalow, Craftsman
- Stories
- One Level
- Neighborhood
- Not Applicable
Property Description
A rare opportunity to acquire one of Southwest Pasadena's quintessential Bungalow Courts, consisting of (5) five free-standing Craftsman Style bungalows on lush landscaped common grounds, each unit measuring approximately 830 SqFt. Commissioned in 1917 by Edwin F. Hahn, founder of one of Pasadena's oldest businesses, the law firm Hahn & Hahn, this trophy property is located on a highly desirable street, just minutes away from the Arroyo and Old Town Pasadena, and presents a wonderful investment opportunity for its future owner. 686-694 South Grand Avenue pairs period details such as original windows, hardwood floors and fireplace with modern amenities including in-unit washer/ dryer, individually metered utilities and hot water heater in each unit. Units offer a slightly varied layout, ranging between 815 - 870 SqFt each, and are entered through a front-porch opening up to a light-filled living room space with adjacent kitchen. The two bedrooms are connected by a full bathroom with a tub. Four of the five units currently rented, yielding a monthly income of $11,820; its projected rent, fully occupied, is $15,220. Front South unit is vacant and staged for viewings. Three units are currently rented at market value and one below market value.
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Additional Information
- Other Buildings
- Shed(s)
- Appliances
- Dishwasher, Gas Range, Microwave, Refrigerator, Water Heater
- Pool Description
- None
- Fireplace Description
- Decorative
- Heat
- Floor Furnace, Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Roof
- Composition
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Built-in Features
- Attached Structure
- Detached
- Number Of Units Total
- 5
- Gross Scheduled Income
- $182,640
- Operating Expense
- 24326
Listing courtesy of Listing Agent: George Penner (george.penner@compass.com) from Listing Office: COMPASS.
Listing sold by Mark Jerusalem from Engel & Voelkers Pasadena
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