Pasadena, California has an abundant MultiFamily Duplex Income Property market with 13 Duplex properties currently for sale. Including all duplex, triplex, fourplex and larger multifamily income properties, there are currently 41 active properties for sale. Amazingly there are 21 multifamily income properties in escrow selling within 4-6 weeks of being listed for sale. This is a very strong absorption rate showing huge demand for multifamily income properties in Pasadena. Pasadena does NOT have RENT CONTROL but it is in Los Angeles County.
To view pictures, financials and descriptions of all the active Duplex MultiFamily Income Properties listed FOR SALE in Pasadena please click this live link! As you can see, there are 13 Duplex Properties listed for sale with the lowest priced one being on Orange Grove Blvd. and the highest priced Duplex situated at Madison Avenue $925,00. Each property has been on the MLS for less than 3 weeks at the time of this blog post.
(All property details retrieved from multiple public real estate websites, Information is believed to be accurate, but shall not be relied upon without verification. Accuracy of square footage, lot size and other information is not guaranteed)
Pasadena is located in the San Gabriel Valley region of Los Angeles County and is a great place to buy or sell multifamily, duplex, triplex, fourplex and larger commercial apartment properties. Its job industry, conveniences, and attractions make this a great place to live and there is a good market available to buy multifamily rental properties such as duplexes, triplexes, and fourplexes. These properties can bring in great income and can be sold quickly if you need to move your investments around. There is also no rent control in Pasadena.
Pasadena’s population was 138,547 as of 2012, which makes it the 9th largest city in Los Angeles County. The estimated median household income in 2011 was $72,265 (it was $46,012 in 2000). This is higher than the California median which was $57,287 in 2011.
According to the City’s 2012 Comprehensive Annual Financial Report, the top employers in the city are Jet Propulsion Laboratory (5,029), Kaiser Permanente (4,760), California Institute of Technology (3,900), Huntington Hospital (3,200), Pasadena Unified School District (3,000), and AT&T (2,525). Other companies based in Pasadena include Avery Dennison, Cogent Systems, Inter-Con Security, Jacobs Engineering Group, Green Dot Corporation, Tetra Tech, Wesco Financial, OpenX, and Wetzel’s Pretzels
The city also enjoys being close to a variety of conveniences. The closest airport is Bob Hope Airport, which services almost 5 million passengers each year, and it is only 16 miles away. The Huntington Hospital is Pasadena’s local hospital. There are also many great universities in and around Pasadena, including California Institute of Technology, Pasadena City College, University of Southern California, and California State University Los Angeles.
There are many attractions in Pasadena, but it is probably best known for the Tournament of Roses Parade, held each year on January 1. The Rose Bowl, a National Historic Landmark, is host of the first and most famous college football postseason bowl game. Pasadena is home to a number of art museums, public galleries, and theatres including the Pasadena Playhouse, Norton Simon Museum, and the Pasadena Museum of History.
Old Town Pasadena spans 21 blocks downtown. It boasts upscale retail shops and a wide variety of restaurants, nightclubs, outdoor cafés, pubs, and comedy clubs. “One Colorado” features renovated historic architecture that attracted the new retail stores and restaurants. Paseo Colorado is an upscale shopping mall designed to be a modern urban village. An open-air mall that covers three city blocks, Paseo Colorado is anchored by upscale grocery store Gelson’s,and Arclight Cinemas. Another shopping district is located in the South Lake Avenue neighborhood. On Lake Avenue, an old Macy’s department store and furniture gallery is in a registered California historical landmark.
All of these features, make Pasadena a great city to buy or sell multifamily investment rental properties such as duplexes, triplexes, fourplexes and larger commercial apartment buildings. This vibrant, diverse community has great attractions, a healthy work industry, and above average rent. The density of the city and the desire for people to live here, make it an ideal location for multifamily living and the city does have great duplex, triplex, and fourplex properties.
Also serving other Los Angeles County Cities.This information was gathered from: www.ci.pasadena.ca.us, city-data.com, and wikipedia.Thank you for choosing MultiFamilyOwl.com in your search for a duplex, triplex, fourplex or commercial apartment for sale in Pasadena.