Detailed Introduction Of This Home
We are pleased to present El Molino Apartments, a 5-unit apartment complex in Pasadena, CA. The property offers an ideal unit mix consisting of generously sized studio, one, and two-bedroom units, situated within walking distance from Old Pasadena. The building is in pristine condition as it has been professionally managed and has undergone full interior and exterior improvements. Upgrades include copper plumbing, updated electrical system, new windows, hard wood flooring, stainless steel appliances, quartz countertops, new cabinetry, upgraded bathrooms and state of the art mini-split HVAC systems. Additional features include garage parking (5 spaces), open parking (4 spaces), yards/balconies, and washer/dryer hookups. With strong in-place rents generating a current cap rate of 4.5%, 5% with market rents, this low maintenance trophy asset is a perfect fit for any investor looking to expand their real estate portfolio.