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296 N Oakland Avenue, Pasadena, CA 91101

$6,200,000 Sale Pending

  • For Sale
  • Pending
  • Multi-Family
  • Updated 6 days ago
296 N Oakland Avenue, Pasadena, CA 91101 View this property at 296 N Oakland Avenue, Pasadena, CA 91101
296 N Oakland Avenue Pasadena CA 91101

Property Description

Oakland Ave Apartments - 296 N Oakland Ave, is a 25-unit value-add non rent controlled apartment investment opportunity located in the highly desirable City of Pasadena, CA. The property is located within the Pasadena Playhouse District, an eclectic cosmopolitan community rich in history and architecture. Because of this superb location, it has a Walk Score 87 out of 100, demonstrating high "walkability" to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. It is a two story garden style apartment community with a center courtyard and carport parking in the back. It was built in 1957 and is situated on a 20,303 square feet lot. It has secured entry, pool,
center courtyard and an intercom system. It is separately metered for electricity and gas. It has one (1) 2bed+2bath unit, two (2) 2bed+1-1/2bath units, twenty (20) 1bed+1bath units, and two (2) studio units. There are 25 parking spaces provided by a carport and tuck-under spaces in the back. The property is being sold completely vacant in an as-is condition. This presents a clean slate opportunity for value add investors to rehab the property and upgrade all units to maximize its income potential.

Full Property Details for 296 N Oakland Avenue

  • Price: $6,200,000
  • Status: Pending
  • Type: Multi-Family
  • MLS ID: AR17032987
  • Updated: 5/17/2017
  • Added: 96 day(s) ago

Property History

  • 296 N Oakland Avenue, Pasadena, CA
  • Listed at $6,200,000 on 2/16/17

Interior

  • Fireplace(s): None

Rooms

Other Rooms

  • Laundry: None

Additional Information

  • Pool Description: Community Pool

Parking

  • Parking Features: See Remarks
  • Parking: See Remarks

Location

  • Area: 647 - Pasadena (SW)
  • County: Los Angeles
  • Development Name: 647 - Pasadena (SW)
  • Driving Directions: FWY210, exit Los Robles Ave - Southwest corner of Oakland Ave and Corson St

Heating & Cooling

  • Cooling Type: See Remarks
  • Heating Type: See Remarks

Utilities

  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 26
  • # Electric Meters: 26

Structural Information

  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 14,824
  • Year Built: 1957

Unit Information

Unit 1

  • Number of Units: 1
  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 2

  • Number of Units: 2
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 3

  • Number of Units: 20
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 4

  • Number of Units: 2
  • Total Bathrooms: 1

Lot Features

  • Lot Size Source: Assessor
  • Zoning: CD-3
  • Lot Description: Corner Lot, Lot 20000-39999 Sqft

Financial Considerations

  • Price Per Sq. Ft.: $418.24
  • Price Per Unit: 248000

Listed by Growth Investment Group, Inc., Handoko Chen

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Estimate the Cost

296 N Oakland Avenue will cost you if you:

  • Buy it at list price: $
  • Put down a % down payment : $
  • Pay at a interest rate over

  • Pay $ per year in insurance and $ per year in property taxes.

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In the Community

Nearby Schools

296 N Oakland Avenue, Pasadena, CA 91101 (MLS# AR17032987) is a Multi-Family property with 25 units containing 0 bedrooms and 0 full bathrooms. 296 N Oakland Avenue is currently listed for $6,200,000 and was received on February 16, 2017. Want to learn more about 296 N Oakland Avenue? Do you have questions about finding other Multi-Family real estate for sale in Pasadena? You can browse all Pasadena real estate or contact a Coldwell Banker agent to request more information.

Listed by Growth Investment Group, Inc., Handoko Chen