466 Cypress AVE Pasadena, CA 91103

466-470 Cypress Ave. is a 7-unit apartment in the City of Pasadena, California with great current cash flow. The property has 2 buildings where the front building consists of 5 units, and the back building consists of 2 units. Each unit is separately metered for electricity and gas (except for studio unit). The property is situated on a large lot size of ±13,678 square feet lot (high density zoning of RM-32) which provides buyer the options for future development. The sale includes a preliminary architect drawing for a 10-unit condominiums project (Buyer to verify with city). The property is located within walking distance to Old Town Pasadena and offers access to all amenities the City of Pasadena has to offer. Parking consists of 4 space carport in the back and 11 open space parking on the side of the lot. The property features a large front yard, a side garden area and an attractive curb appeal. It offers an attractive unit mix with one 3bed+2bath unit, one 3bed+1bath unit, three 2bed+1bath units, one 1bed+1bath unit, and one studio (non-conforming) unit. The non-conforming studio unit is on master meter for electricity, gas and water. New Roof, New Exterior Siding, New Windows and New Outside Paint in 2019. Most of the units have been completely remodeled with laminate hardwood floor, granite kitchen counter tops and new kitchen cabinets. The back building units plumbing have been upgraded to copper piping.