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1210 Wafer St Unit 4, Pasadena
$599,000
3 Beds ⋅ 2 Baths ⋅ 27545322 MLS ⋅ ACTIVE Status
HIGH-YIELD VALUE-ADD 4-PLEX IN PASADENA - ALREADY SECTION 8 APPROVED Purchase through a (QOF) Incredible opportunity to acquire a cash-flowing Pasadena 4-plex positioned for an immediate equity push. Currently managed by a long-term, mom-and-pop owner, the asset is primed for a strategic investor to step in and capture massive operational upside. By implementing a Ratio Utility Billing System (RUBS), a new owner can wipe out $7,200 in annual owner-paid utilities, transferring that value straight to the bottom line. Skip the red tape—the property is already approved for the Section 8 program, making it a turnkey transition for a high-performing voucher portfolio. Aligning the units with local Housing Choice Voucher limits ($1,260 for 2-beds / $1,700 for 3-beds) unlocks a robust $71,040 gross annual income. Priced to deliver a highly competitive 7.5% Cap Rate upon optimization, this asset perfectly blends immediate government-backed income stability with premier value-add potential.

1210 Wafer St Unit 4, Pasadena

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