x
Address
251 N Oakland Avenue Pasadena, CA
Price
$ 40,300,000
Property Attributes
  • MLS#AR19216600
  • TypeIncome
  • CountyLOS ANGELES
  • CityPasadena
  • AreaPasadena
  • Zip91101
  • Style
  • Price$ 40,300,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage57819
  • Lot Size1.67 Acres
Listing Provided Courtesy Of:
Handoko Chen with GIG Real Estate Inc..
Property Description

THE ARROYO COLLECTION is 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 Arroyo Collection consists of five (5) two-story multifamily properties totaling 80 units. The properties, all of which have been completely renovated and seismically retrofitted, offer a solid mix of courtyard layouts, in-unit laundry and multiple on-site laundry facilities for, and are well-parked with 79 total parking spaces. The properties are separately metered for gas and electric, and each property 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. All of the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades. A new owner is presented with the security of in-place master leases for all five (5) properties. Given its excellent real estate fundamentals, which include desirable non rent-controlled status, complete renovation, full seismic retrofitting, and an unbeatable location, the Arroyo Collection is an unparalleled investment for an investor seeking stable risk-adjusted returns, wealth preservation, and a hedge against inflation.

Price History
9/10/2019 Listed $40,300,000

General Features

Assessments Buyer to Verify
Attached Structure Attached
Community Features Urban, Valley
Directions south of 210 FWY, one block east of Los Robles Ave, north of Walnut St
HOA Fee 0.00
Levels Two
Listagentaor Arcadia
Listing Agent Handoko Chen - BRE#01749321
Listing Agent State License 01749321
MLS Area 647 - Pasadena (SW)
Number of Units Leased 80
Price Per Square Foot 697.00
Property Attached Y/N Yes
Source System CRMLS
Special Listing Conditions Standard
Total Units 80
Zoning PSC-

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Air Conditioning Y/N Yes
Common Walls 2+ Common Walls
Cooling ENERGY STAR Qualified Equipment, High Efficiency, SEER Rated 16+
Dishwasher Count 80
Fireplace Features None
Garbage Disposal Count 80
Heating ENERGY STAR Qualified Equipment, High Efficiency, Combination
Heating Y/N Yes
Laundry Features Dryer Included, Inside, Washer Included
Laundry Y/N Yes
Number of Wall ACs 80
Range Count 80
Refrigerator Count 80
Studio Area Unit Type Square Feet
Total Stories 2
Window Features Double Pane Windows, ENERGY STAR Qualified Windows

Exterior Features

Building Area Total 57819.00
Carport Spaces 79.00
Garage Spaces 0.00
Lot Features Lot Over 40000 Sqft, Irregular Lot, Level, Near Public Transit
Lot Size Acres 1.6694
Lot Size Area 72718.0000
Lot Size Source Assessor
Lot Size Square Feet 72718.00
Lot Size Units Square Feet
Number of Buildings 5
Number of Separate Electric Meters 85
Number of Separate Gas Meters 85
Number of Separate Water Meters 5
Parking Features Assigned
Parking Y/N Yes
Pool Features None
Sewer Public Sewer
Total Parking 79.00
Uncovered Spaces 0.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 91101

Price
AVG $9.24M
$40.3M
Visits
AVG 18
44
Year Built
AVG 1948
1962
Walkscore
AVG 82
82
Data Provided by Walkscore ® not using MLS data

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