285 N Oakland Avenue

    Pasadena, CA 91101
    • $10,560,000
    • STATUS: Active
    • ON SITE: 37 days
    • ID#: AR19215835
    UPDATED: 238 min ago
    $10,560,000
    • 0
      BEDS
    • 0.51
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 18,216
      SQFT
    • $580
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    285 N Oakland Ave is a turn-key, fully upgraded, and 100% occupied 22 units luxury apartment in the City of Pasadena. This property is part of THE ARROYO COLLECTION, a five-property portfolio totaling 80-unit non-rent-controlled apartment investment opportunity in the City of Pasadena, CA. The portfolio is located within the Pasadena Playhouse District, south of 210 Freeway and just within walking distance to Old Town Pasadena area. The property offers an investor the rare opportunity to own an excellent portfolio of real estate in one of the most coveted submarkets in the San Gabriel Valley. The property, which has been completely renovated, was built in 1960. It is a two-story garden style apartment with an attractive center courtyard and an excellent curb appeal. It offers a superb unit mix of five (5) large 2-bedroom+2-bathroom, three (3) large 2-bedroom+1.5-bathroom, and fourteen (14) 1-bedroom+1-bathroom units. It is separately metered for gas and electric, is serviced by new central water heaters. Units are spacious and offer an in-unit combo washer/dryer, stove, dishwasher, garbage disposal, ample closet and storage space, ceiling fans, and new mini-split HVAC systems for heating and cooling. Several 2nd floor units have high-ceiling, and private patios. It has 20 parking spaces and in the back. The soft-story parking area has been seismically retrofitted.All of the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-17T00:35:15.083. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/98802984

    285 N Oakland Avenue Pasadena, CA 91101

    • Price: $10,560,000
    • Status: Active
    • Updated: 238 min ago
    • ID#: AR19215835
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.51
    Acres
    18,216
    SQFT
    $580
    $/SQFT
    1960
    Built
    Neighborhood:
    647 - Pasadena (SW)
    County:
    Los Angeles
    Area:
    647 - Pasadena (SW)
    Property Description
    285 N Oakland Ave is a turn-key, fully upgraded, and 100% occupied 22 units luxury apartment in the City of Pasadena. This property is part of THE ARROYO COLLECTION, a five-property portfolio totaling 80-unit non-rent-controlled apartment investment opportunity in the City of Pasadena, CA. The portfolio is located within the Pasadena Playhouse District, south of 210 Freeway and just within walking distance to Old Town Pasadena area. The property offers an investor the rare opportunity to own an excellent portfolio of real estate in one of the most coveted submarkets in the San Gabriel Valley. The property, which has been completely renovated, was built in 1960. It is a two-story garden style apartment with an attractive center courtyard and an excellent curb appeal. It offers a superb unit mix of five (5) large 2-bedroom+2-bathroom, three (3) large 2-bedroom+1.5-bathroom, and fourteen (14) 1-bedroom+1-bathroom units. It is separately metered for gas and electric, is serviced by new central water heaters. Units are spacious and offer an in-unit combo washer/dryer, stove, dishwasher, garbage disposal, ample closet and storage space, ceiling fans, and new mini-split HVAC systems for heating and cooling. Several 2nd floor units have high-ceiling, and private patios. It has 20 parking spaces and in the back. The soft-story parking area has been seismically retrofitted.All of the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades.
    Exterior Features

    Carport Spaces 20.00 Garage Spaces 0.00 Lot Features Lot 20000-39999 SqftRectangular LotLevelNear Public Transit Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 20.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Energy Star Qualified EquipmentHigh EfficiencySeer Rated 16+ Cooling YN Yes Fireplace Features None Fireplace YN No Heating Energy Star Qualified EquipmentHigh EfficiencyCombination Heating YN Yes Laundry Features Dryer IncludedInsideWasher Included Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features UrbanValley Country Us Electric Standard Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 567600.00 Gross Operating Income 567600.00 Gross Scheduled Income 567600.00 Insurance Expense 5566.00 Land Lease YN No Laundry YN Yes Net Operating Income 401412.00 New Construction YN No New Taxes Expense 116802.00 Number Of Separate Electric Meters 23 Number Of Separate Gas Meters 23 Number Of Separate Water Meters 1 Number Wall AC 22 Number With Dishwasher 22 Number With Disposal 22 Number With Range 22 Number With Refrigerator 22 Operating Expense 166188.00 Professional Management Expense 13851.00 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 166188.00 Trash Expense 6583.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 0.00 Water Sewer Expense 12237.00 Water Source Public Year Built Source Assessor Zoning Psc-

    Listing provided courtesy of Handoko Chen of Gig Real Estate Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-17T00:35:15.083. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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