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80 Grace Terrace

Pasadena, CA 91105
  • $8,200,000
  • STATUS: Active
  • ON SITE: 3 Days
  • ID#: P1-7914
New On Site 3 Days Ago
UPDATED: 58 min ago
$8,200,000
  • 0
    BEDS
  • 0.75
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1891
County:

School Ratings & Info

Description

It is our pleasure to introduce 80 Grace Terrace, one of the most unique apartment building investments in Southern California. Originally built as a family estate in 1891, 'Grace Mansion' was designed by renowned architect, Frederick Roehrig (Castle Green Hotel and notable Pasadena homes built during the gilded age). The mansion was converted to apartments in the 1920's when it had become isolated from its own kind by early century development of orchards into homes between Grace Mansion and Orange Grove Boulevard, then known as 'Millionaire's Row'. The estate's 'carriageway' became a street, Grace Terrace, and its grand stairways down the side of Grace Hill are hidden public steps that hilltop residents use to walk to 'The Yoga House' and the historic 'Raymond Restaurant'. Each one-bedroom, one-bath apartment is unique in size and character, ranging from 853 sf to 1,733 sf, and has its own exterior entrance with an entertainment-sized verandah or balcony to take in the fragrance of Wisteria blooming in the surrounding gardens and views of the city with the San Gabriel mountains beyond. The owners of 31 years have spared no expense to bring this 8-unit building (7 + 1 non-conforming) on par with the amenities of new luxury apartments on the market while retaining all of its architectural detail, a major upgrade that will maintain its desirability long after the typical new apartment development loses its shine. The entire building has undergone a two year, nearly $1.4M, rehab including an all new plumbing system, sewer lines, comp shingle roof, rain gutters and downspouts, electric sub panels, water heaters, paint inside and out, drip line landscape irrigation, and much, much more. This unique investment has always enjoyed high quality tenants, much higher than average rents, and extraordinarily low turnover. Now taken to a whole new level with new HVAC, in-unit washers and dryers, and high end appliances, these large, character-filled, apartments are more desirable than ever. Features include high ceilings, French doors, hardwood floors, crown molding, ceramic tile bathrooms, French door refrigerators, and gorgeous new 'iLVE' range/ovens shipped from Italy. There's more than enough parking on site for two cars per unit. A three-door, 486 sf, detached garage can provide additional tenant parking or can be considered for a potential ADU. Income can be enhanced by renting storage space to tenants in the ~3,800 sf semi-subterranean basement.

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Based on information from CRISNet MLS as of 2022-01-17T12:56:07. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-01-17T12:56:07. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchhomesincalifornia.com/homes/124711385
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80 Grace Terrace Pasadena, CA 91105

  • Price: $8,200,000
  • Status: Active
  • On Site: 3 Days
  • Updated: 58 min ago
  • ID#: P1-7914
0
Beds
0
Baths
0
½ Baths
0.75
Acres
1891
Built
Neighborhood:
Not Applicable
County:
Los Angeles
Area:
647 - Pasadena (Sw)
Property Description
It is our pleasure to introduce 80 Grace Terrace, one of the most unique apartment building investments in Southern California. Originally built as a family estate in 1891, 'Grace Mansion' was designed by renowned architect, Frederick Roehrig (Castle Green Hotel and notable Pasadena homes built during the gilded age). The mansion was converted to apartments in the 1920's when it had become isolated from its own kind by early century development of orchards into homes between Grace Mansion and Orange Grove Boulevard, then known as 'Millionaire's Row'. The estate's 'carriageway' became a street, Grace Terrace, and its grand stairways down the side of Grace Hill are hidden public steps that hilltop residents use to walk to 'The Yoga House' and the historic 'Raymond Restaurant'. Each one-bedroom, one-bath apartment is unique in size and character, ranging from 853 sf to 1,733 sf, and has its own exterior entrance with an entertainment-sized verandah or balcony to take in the fragrance of Wisteria blooming in the surrounding gardens and views of the city with the San Gabriel mountains beyond. The owners of 31 years have spared no expense to bring this 8-unit building (7 + 1 non-conforming) on par with the amenities of new luxury apartments on the market while retaining all of its architectural detail, a major upgrade that will maintain its desirability long after the typical new apartment development loses its shine. The entire building has undergone a two year, nearly $1.4M, rehab including an all new plumbing system, sewer lines, comp shingle roof, rain gutters and downspouts, electric sub panels, water heaters, paint inside and out, drip line landscape irrigation, and much, much more. This unique investment has always enjoyed high quality tenants, much higher than average rents, and extraordinarily low turnover. Now taken to a whole new level with new HVAC, in-unit washers and dryers, and high end appliances, these large, character-filled, apartments are more desirable than ever. Features include high ceilings, French doors, hardwood floors, crown molding, ceramic tile bathrooms, French door refrigerators, and gorgeous new 'iLVE' range/ovens shipped from Italy. There's more than enough parking on site for two cars per unit. A three-door, 486 sf, detached garage can provide additional tenant parking or can be considered for a potential ADU. Income can be enhanced by renting storage space to tenants in the ~3,800 sf semi-subterranean basement.
Exterior Features

Architectural Style Victorian Fence YN No Fencing None Lot Size Area 32596.0000 Parking Total 16.00 Parking YN Yes View YN Yes

Interior Features

Appliances DishwasherGas RangeRefrigerator Appliances YN Yes Common Walls 2+ Common Walls Cooling YN Yes Fireplace YN Yes Heating YN Yes Laundry YN Yes

Property Features

Association Fee 0.00 Community Features Suburban Land Lease YN No Pool Features None Pool Private YN No Property Attached YN Yes Property Sub Type Commercial/Residential Senior Community YN No Sewer Public Sewer Spa Features None Spa YN No Special Listing Conditions Trust Water Source None

Listing provided courtesy of Thomas Flanagan, CA DRE# 01330299, of Compass.


Based on information from CRISNet MLS as of 2022-01-17T12:56:07. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-01-17T12:56:07. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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