1559 N Hill Ave Pasadena, CA 91104
Property details
About 1559 N Hill Ave
2nd PRICE REDUCTION! INCREDIBLE 6.15% IN-PLACE CAP RATE! We are pleased to present the opportunity to acquire a rare and exceptional 28-unit multifamily property in Pasadena, CA. Originally constructed in 1932 with an addition in 1949, 1559 N Hill Avenue exudes charm and sophistication with its stately colonial architecture and large columned front porch. The property comprises (22) 1-bedroom units, (5) studios, and (1) 2-bedroom, 1-bath unit. There is a beautifully landscaped central courtyard surrounded by a gorgeous vintage Mellenthin-inspired second-floor catwalk. At the rear of the property is a large, easily-accessible surface parking lot with room for 25 vehicles. Tenants have access to a secured, oversized laundry room as well as to a large bike storage room.These spaces as well as another unused storage room are each roughly 1,000 square feet and could be repurposed for any number of different amenities or they could be potentially converted to additional ADU units. The property has been well maintained with only two owners over the past 40+ years. A major overhaul of the electrical system was completed in 2010 which included main panel and transformer replacement as well as rewiring of all units. The building exterior and interior common areas were recently painted as well. Furthermore, there is no need for soft story or similar seismic retrofitting. 1559 N Hill is located in Pasadena's Historic Highlands neighborhood. This primarily residential enclave is serene and quiet but offers easy access to many great points of interest. Most notably, the property is a short 5-minute walk to Washington Boulevard which is lined with popular shops and restaurants as well as larger national chain stores. 1559 N Hill presents an excellent opportunity for investors looking to acquire a well-positioned multifamily asset in a strong Southern California market. With rental income growth potential and high demand for housing in Pasadena, this property offers both stable current cash flow and significant upside potential.
Highlights
Summary
- MLS Number: 24451389
- MLS Name: CRMLS
- Office Name: REMAX COMMERCIAL & INVESTMENT REALTY
- Office Phone: (310) 802-2500
- Listing Agent: Robert Renshaw
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/23/2025, 8:21:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$6,495,000
1559 N Hill Ave
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Oct 31, 2023 | Home Sold | $5,500,000 |
| Jun 28, 2019 | Home Sold | $2,084,500 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $3,397,289 | $42,684 |
| 2023 | $3,330,844 | $42,338 |
| 2022 | $3,265,702 | $40,954 |
| 2021 | $3,201,837 | $39,312 |
| 2020 | $3,303,181 | $19,870 |
| 2019 | $1,389,875 | $19,924 |
| 2018 | $1,362,624 | $19,680 |
| 2017 | $1,335,907 | $19,680 |
History based on county public records data.
Nearby schools
6
Longfellow Magnet School
Public District KG-5
0.5 mi
•1065 E Washington Blvd
6
Daniel Webster Elementary School
Public District KG-5
0.9 mi
•2101 E Washington Blvd
4
Altadena Arts Magnet School
Public District KG-5
1.1 mi
•743 E Calaveras St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $48,690. Typical income of Pasadena, CA residents is between $35k-100k annually. The most common type of family is single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Art Museums
Major League Soccer (MLS)
Pro Boxing
Where do the neighbors shop?
Bloomingdales
Banana Republic
IKEA
Where do the neighbors go to eat?
Starbucks
Jack In The Box
Quiznos
What do the neighbors drive?
Audi
Toyota
Lexus
What do the neighbors listen to?
News
Jazz
Soft Adult Contemporary
Frequently asked questions
About 1559 N Hill Ave
This home is located at 1559 N Hill Ave in Pasadena, CA and zip code 91104 in the The Verdugos neighborhood. This 14,640 square foot home, which was built in 1949, sits on a 0.48 acre lot. Features: 24 bedrooms, 28 bathrooms. It has been listed on Rocket Homes since October 10, 2024 and is currently priced at $6,495,000.
In January 2025 more than 22 listings in Pasadena, CA were sold above the asking price. During the same period more than 9 listings were sold at asking price, while more than 23 were sold below. The number of listings in Pasadena, CA increased by 16.2% between December and January 2025. In January 2025 median list price was $1,218,933 and the average listing age was 47 days.