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$9,995,000
Est. payment /mo
3 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25058279
Bedrooms 3
Property Sub-Type Res Income 2-4 Units
Property Description
We are proud to present 265 N Oakland Ave A 19-Unit Multifamily Community Located Just Steps From Colorado Blvd. In Pasadena, CA. The property is located south of the 210-fwy near the corner of Los Robles Ave and Walnut St, just 1-block away from Colorado Blvd where all of Pasadenas retail and entertainment collide. The property has undergone extensive rehab in the last several years. Aside from all units being fully rehabbed, additional upgrades to the property like in-unit washer and dryers, soft-story retrofitting, and keyless entry locks have also been added. Tenants at the property also enjoy secured access, gated parking, and private balconies in select units. The property is currently leased to students at Providence Christian College, whom has master leased the property for the last 5 years. Throughout the lease, ownership benefits from 100% collections every month, and up to 5% increases in monthly rent every year. The tenant assumes responsibilities that most landlords typically inherit, which allows for minimized landlord responsibilities with strong and reliable cash flow. 265 N Oakland Ave is a 19-unit multifamily property with 14,192 SF of rentable building space. The property sits on over 20,000 SF of land and offers ample parking and community area. The units consist of 15, 1-Bedroom/1-Bathroom and 4, large 2-Bedroom/1-Bathroom units. Based on the master lease in-place, the units average over $3,000 per month. On average, these units will rent slightly below that if leased traditionally, which allows an investor to cash flow stronger than competing apartmen
Location
State CA
County Los Angeles
Zoning Assessor
Direction Merge onto I-210 W/Foothill Fwy toward Pasadena, Exit Lake Avenue, Use the right lane to merge onto E Maple St, Turn left onto E
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5723005036
Read Less Info
Listed by Eric Chen CB RICHARD ELLIS