622 ProspectSouth Pasadena, CA 91030

Description

Rare opportunity to own a fully occupied, character-rich 4-unit income property in one of the San Gabriel Valley's most coveted neighborhoods. Set on a generous 10,002 SF lot in walkable South Pasadena, this two-building property combines the timeless charm of a 1907 Craftsman front house with the income efficiency of a modern 1988 rear building — a combination rarely found at this price point. The front house (3BR/2BA) is the crown jewel: a beautifully maintained Craftsman bungalow showcasing original hardwood floors, a stone fireplace, updated kitchen with stainless appliances, and tastefully renovated bathrooms featuring subway tile, floating vanities, and designer fixtures. A covered front porch and exceptional curb appeal make it equally ideal for an owner-user or a premium rental commanding top-of-market rents. The rear building adds three income-producing units — two 2BR/2BA and one 1BR/1BA — each with assigned carport parking and separately metered utilities. Currently 100% occupied generating $131,700 in annual gross income, with estimated market rents of $156,000/year representing an 18.5% upside as leases roll to market — a compelling value-add story for investors. Pro-forma cap rate of approximately 4.5% at the asking price. The generous lot and long driveway also invite exploration of ADU development potential (buyer to verify). Located within the award-winning South Pasadena Unified School District, minutes to the Gold Line Metro, Fair Oaks shops and dining, and Downtown Los Angeles. A rare find for 1031 exchange buyers, value-add investors, and owner-users alike — don't miss this exceptional South Pasadena offering.

Property Information

Property type

Residential Income

Sub-type

Quadruplex

Style

Craftsman

Year built

1907

Stories

2

Building area

3,460 Sq Ft

Lot size

0.23 acres

Parking spaces

5

Zoning

R3

Days on market

31

MLS^® Listing#

AR26214222

Property Features

Heating

Forced Air

Fireplace

None

Pool

None

Parking

Carport

Laundry

Common Area

Fencing

Wood

Foundation

Raised

Roof

Composition

Windows

Double Pane Windows · Screens

Security

Carbon Monoxide Detector(s) · Smoke Detector(s)

Community

Sidewalks

Water source

Public

Financial Details

HOA

None

Parcel number

5315016006

Directions

N/Mission St, E/Orange Grove, W/Meridian Ave