251 Oakland Avenue Pasadena, CA - 91101

  • Status Active
  • MLS# AR19216600
  • List Price $40,300,000
  • Bedrooms N/A
  • Days On Market 38
  • Acres 1.6694
  • Sq.ft 57819
  • Sale Type Standard
  • Type ResidentialIncome
  • Sub Type Apartment
  • Built Year 1962

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.

Features & Utilities

  • Water Public
  • Sewer Public Sewer
  • Fireplace None
  • Pool None
  • Common Walls 2+ Common Walls
  • Community Urban,Valley
  • Cooling ENERGY STAR Qualified Equipment,High Efficiency,SEER Rated 16+
  • Driving Directions south of 210 FWY, one block east of Los Robles Ave, north of Walnut St
  • Heating ENERGY STAR Qualified Equipment,High Efficiency,Combination
  • Laundry Room Dryer Included,Inside,Washer Included
  • Lot Features Lot Over 40000 Sqft,Irregular Lot,Level,Near Public Transit
  • Carport Spaces 79.00
  • Uncovered Spaces 0.00
  • Operating Expense 621942.00
  • Parking Features Assigned
  • Stories Two
Courtesy of Listing : GIG Real Estate Inc., Handoko Chen

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