15642 Pasadena Avenue, Tustin, CA 92780
- $5,675,000
- Sold Price
- $5,675,000
- List Price
- $5,725,000
- Closing Date
- Feb 27, 2024
- Status
- CLOSED
- MLS#
- OC24022409
- Year Built
- 1989
- Lot Size
- 20,037
- Acres
- 0.46
- Lot Location
- Street Level
- Days on Market
- 5
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
- Neighborhood
- Pasadena
Property Description
15642 Pasadena Avenue is an 11-unit multifamily investment opportunity located in Tustin, California. Built in 1989, 15642 Pasadena Avenue consists of 4, one-bedroom units and 7, three-bedroom townhome units. Situated on a 0.46-acre lot, the property features amenities including central air and heat, individual water heaters, private patios, and ample garage parking. Additionally, units at 15642 Pasadena Avenue include desirable features such as stainless steel appliances (select units), quartz countertops (select units), vinyl, tile, and carpet flooring, fireplaces, and in-unit laundry. Furthermore, current ownership has identified the potential for the creation of two accessory dwelling units (ADUs), through the conversion of existing garage space into livable units. This conversion would diversify the unit mix, increase the overall unit count by 18%, and generate substantial additional rental income. 15642 Pasadena Avenue has an excellent central Southern California location, situated just south of the State Route 55 and Interstate 5 interchange, providing residents with easy access to Los Angeles, Orange, and Riverside Counties. Additionally, the property is just over 0.50 miles from Old Town Tustin and a plethora of major retail centers along Newport Avenue.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 25
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 11
- Gross Scheduled Income
- $351,389
- Operating Expense
- 107020
Listing courtesy of Listing Agent: Tyler Leeson (tleeson@marcusmillichap.com) from Listing Office: Marcus & Millichap RE Invest.
Listing sold by General NONMEMBER from NONMEMBER MRML
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.