466-470 Cypress Ave. is a 7-unit, NON rent-controlled apartment community in the City of Pasadena, California. The property is situated on a large lot size of ±13,678 square feet lot (high density zoning of RM-32) which provides buyer options for future development. The sale includes a preliminary architect drawing for a 10-unit condominiums project. It is located within walking distance to Old Town Pasadena and offers access to all amenities the City of Pasadena has to offer. It has good demographics with an average household income of ±$77,400 within a 2 mile radius. The property has 2 buildings where the front building consists of 5 units, and the back building consists of 2 units. Each unit is separately metered for electricity and gas (except for studio unit). Parking is provided by a 4 space carport in the back and 3 open space parking on the side of the lot. The property has a large front yard, a side garden area and an attractive curb appeal. The property has a very attractive unit mix with one 3bed+2bath unit, one 3bed+1bath unit, three 2bed+1bath units, and one studio (non-conforming) unit. The non-conforming studio unit is on master meter for electricity, gas and water. Two units have been completely remodeled with laminate hardwood floor, granite kitchen countertops, new kitchen cabinets, and updated bathroom. The back building units plumbing have been upgraded to copper piping.