622 Prospect, South Pasadena, CA 91030
Local realty services provided by:Better Homes and Gardens Real Estate Clarity
622 Prospect,South Pasadena, CA 91030
$2,798,000
- 8 Beds
- 7 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: fred ashkar, john ashkar
Office: re/max premier prop arcadia
MLS#:AR26143552
Source:San Diego MLS via CRMLS
Price summary
- Price:$2,798,000
About this home
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...
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Home facts
- Listing ID #:AR26143552
- Added:23 day(s) ago
- Updated:July 25, 2026 at 02:36 PM
Rooms and interior
- Bedrooms:8
- Total bathrooms:7
Heating and cooling
- Heating:Forced Air Unit
Structure and exterior
- Roof:Composition
- Levels:2 Story
Utilities
- Sewer:Sewer Connected
Finances and disclosures
- Price:$2,798,000
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