280 Robincroft Drive, Pasadena, CA

[James Karukas]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $483,000
Cash invested: $97,000

Architect-designed Mid-Century Modern Triplex, 1951

What made you interested in investing in this type of deal?

Unique, quiet enclave adjacent to a huge historic mansion, City of Pasadena location near Rose Bowl, urban transportation, shopping corridor on Lake Ave., tenant parking + 1 guest, old growth trees, washer/dryer, storage in all units

How did you find this deal and how did you negotiate it?

Discovered on MLS as a pending sale, I aggressively offered 10% over asking 10 minutes before the offer deadline, no regrets

What was the outcome?

City of Pasadena voted Yes on rent control, 2022, long-term tenants are paying well under market rate in 2023

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Professional Management by Beven & Brock, Pasadena since 2012