56-58 Esther St, Pasadena

This multi-family dwelling, a three-unit property, is conveniently located in the tranquil Villa Parke neighborhood of NW Pasadena. Located on a tree-lined corner at Esther Street and Raymond Avenue, the home offers easy accessibility with dual street frontages.

Enjoy the ideally positioned amenities, all within easy reach. Just a few miles away, you'll find schools, banks, retail shops, restaurants, Villa Parke, supermarkets, CVS, the Farmers' Market, the Rose Bowl Stadium, a golf club, the public library, museums, and Old Town Pasadena. With several notable venues and a variety of shopping, dining, and entertainment options nearby, this property offers the perfect blend of convenience and excitement. Additionally, easy access to the 210 and 710 freeways, and public transportation. You’ll also be able to enjoy an array of leisure activities and will delight in the scenic canyon hiking trails all just within reach.

This triplex sits on a 5,818 square-foot lot, with each unit enjoying its own private backyard. The property offers a total of 3 bedrooms and 3 bathrooms, combining for approximately 1,600 square feet of living space. Each unit consists of one bedroom and one bathroom, with laminate wood flooring throughout. There are two detached parking garages available. Each unit has a separate electric meter and gas meter, while all units share a single water meter, with the water bill paid by the tenants. The landlord covers lawn maintenance, water and sewer fees, electricity, insurance, pest control, and property taxes. The seller also provides a washer and dryer in the laundry room.

Unit #1 - 555 Raymond Ave (Rent: $2,200) 
This tenant-occupied unit has a lease agreement that ends in September 2024. It offers 544 sq. ft. of living space.

Unit #2 - 56 Esther St (Rent: $2,100) 
This tenant-occupied unit has a lease agreement that ends in March 2025. It offers 544 sq. ft. of living space.

Unit #3 - 58 Esther St (Rent: $2,100) 
This tenant-occupied unit is on a month-to-month lease. It offers 528 sq. ft. of living space.

The neighborhood offers unlimited opportunities for shopping, entertainment, relaxation, and networking, making it an ideal location for generating rental income. This triplex provides an excellent opportunity for a live-in owner who can rent out the other units as a capital growth investment. With rental upside potential, it's a valuable addition to any investment portfolio.

The property is offered in its current as-is condition and falls under the Rent Stabilization Ordinance (RSO). Viewing is drive-by only, with interior inspections subject to tenant occupancy. Interested parties are encouraged to perform their own due diligence to verify and satisfy all requirements regarding the current market rent value.