UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26089323
Construction Status Repairs Cosmetic,Updated/Remodeled
HOA Y/N No
Year Built 1968
Annual Tax Amount $79,982
Lot Size 0.377 Acres
Property Sub-Type Apartment
Property Description
The San Rafael (1818 Ramona Ave), a premium 16-unit apartment community in one of South Pasadena's most prestigious neighborhoods. Offered for the first time by the original builder, this generational asset sits on a large 16,436 SF R3-zoned lot and boasts approximately 20,000 SF of building space, translating to unusually large, house-like floor plans. It has Exceptional demographics with over $170,017 AHH income within a mile-radius, and within the highly desirable South Pasadena Unified School District.
Built in 1968, the building features distinctive architecture and has been exceptionally well-maintained. South Pasadena is a notoriously high-barrier-to-entry market with no local rent control and a severe lack of multifamily inventory. The San Rafael capitalizes on this scarcity, offering an unparalleled unit mix dominated by spacious 2-bedroom apartments.
The property is a 3-story building with secured entrance and gated parking. It has fabulous landscaping with superior curb appeal and welcoming entry foyer area complete with seating. With a large building size of ±20,000 SF translating to many oversized units (all 2-bedroom units averaged between ±1200SF to ±1400SF living space, and ±850-900SF for 1-bedroom units). It offers superior unit mix of two (2) x 2bed+2.5bath+den, ten (10) x 2bed+2bath, and four (4) large 1bed+1.25bath.
The 2bed+2.5bath+den units are extremely large with oversized den and an estimated size of ±1400SF. The den has sliding pocket door and would easily qualify as the 3rd bedroom or a private home office. The 2bed+2bath are approximately ±1200SF, and the 1bedroom units are estimated at around ±900SF. Each unit has excellent layout with private balcony. Approximately twelve (12) units have been upgraded with upgraded kitchen and bathroom (buyer to verify). The 2nd bathroom in the 2bedroom units is mostly shower stalls. Each unit has central HVAC system, and individual electric water heater in the hallway. With its secure access, elevator service, and abundant parking, the property provides immediate stability while offering tremendous value-add potential for future ownership.
Location
State CA
County Los Angeles
Area 658 - So. Pasadena
Interior
Interior Features Elevator, Intercom
Heating Central
Cooling Central Air
Flooring Carpet, Laminate, Vinyl, Wood
Fireplaces Type None
Equipment Intercom
Fireplace No
Appliance Electric Range, Refrigerator, Range Hood, Water Heater
Laundry Common Area
Exterior
Parking Features Assigned
Carport Spaces 24
Fence Wrought Iron
Pool None
Community Features Suburban, Valley
Utilities Available Cable Connected, Electricity Connected, Natural Gas Not Available, Phone Available, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Flat
Accessibility None
Total Parking Spaces 24
Private Pool No
Building
Lot Description Lawn, Landscaped, Level, Near Public Transit, Rectangular Lot, Street Level
Story 3
Entry Level Three Or More
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Three Or More
New Construction No
Construction Status Repairs Cosmetic,Updated/Remodeled
Others
Senior Community No
Tax ID 5319020056
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Nearby Locations
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TNG Real Estate Consultants
Agent | License ID: 01886242
Agent License ID: 01886242