265 N Oakland Ave Pasadena, CA 91101

$9,950,000 Sold Price as of 12/02/2019

-- Beds
-- Baths
14,192 Sq.Ft.

Off Market

$9,950,000 Sold Price as of 12/02/2019 Refinance Your Mortgage

Property Overview: 265 N Oakland Ave Pasadena, CA has -- bedrooms, -- bathrooms, 14,192 living square feet and 20,000 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

265 N Oakland Ave is currently an off market home in the city of Pasadena. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Pasadena has a median list price of $1,199,000. The median price per/sqft for Pasadena is $798. With those numbers in mind, if you are looking to purchase a median priced home in Pasadena, CA and put 20% down you will need to save up $239,800 for the down payment and will need roughly $23,980 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Pasadena the commission could be as much as $62,500. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 265 N Oakland Ave

Last sold for $9,950,000 on December 3rd, 2019

January, 2024
Jan 1, 2024

Date

Expired

CRMLS: AR23050812

$11,180,000

Price
Mar 28, 2023

Date

Active

CRMLS: AR23050812

$11,690,000

Price
Listing provided courtesy of CRMLS

ZERO VACANCY Investment + ADUs Upside + Property Tax Exempt benefiting tenant (see Offering Memorandum). 265 N Oakland Ave, a turn-key, fully upgraded (with permits), and 100% occupied 19 units luxury apartment in the City of Pasadena. The property is located within the Pasadena Playhouse District, south of 210 Freeway and just within walking distance to Old Town Pasadena area (Walk Score 90 and Bike Score 85). The property offers an investor the rare opportunity to own an excellent income property in one of the most coveted submarkets in the San Gabriel Valley. This offering provides a ZERO VACANCY apartment opportunity secured by a master lease with a local Christian school based in Pasadena. The sale includes a Zoning Analysis Report showing a possibility to add Two (2) ADUs (each ±800SF - Buyer to verify). The property, which has been completely renovated in 2018-2019 with permits, was built in 1962 is a two-story garden style apartment with an attractive center courtyard and an excellent curb appeal. It offers a superb unit mix of four (4) large 2-bedroom+2-bathroom, and fifteen (15) 1-bedroom+1-bathroom units. Each unit is complete with an in-unit laundry and private patio. 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. It has 19 parking spaces in the back. The soft-story parking area has been seismically retrofitted. All of the units have undergone a top-to-bottom renovation in 2018-2019 (ALL PERMITTED) with full electrical and plumbing upgrades, new high durability wood vinyl and tile flooring, new windows, state of the art mini-split HVAC systems, new kitchens, which include new cabinets, quartz countertops, and new stainless-steel appliances, and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures. A new owner is presented with the security of in-place master leases leased to Providence Christian College, a private Christian liberal arts college. Given its excellent real estate fundamentals, very stable operation and ease of maintenance, complete renovation, full seismic retrofitting, and an unbeatable location, the 265 N Oakland Ave is an unparalleled investment for an investor seeking stable risk-adjusted returns, wealth preservation, and a hedge against inflation.

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December, 2019
Dec 4, 2019

Date

Sold

CRMLS: AR19215797

$9,950,000

Price
Nov 21, 2019

Date

Pending

CRMLS: AR19215797

$10,420,000

Price
Sep 10, 2019

Date

Active

CRMLS: AR19215797

$10,420,000

Price
Listing provided courtesy of CRMLS

265 N Oakland Ave is a turn-key, fully upgraded, and 100% occupied 19 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.

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December, 2019
Dec 2, 2019

Date

Sold (Public Records)

Public Records

$9,950,000

Price
April, 2018
Apr 29, 2018

Date

Expired

CRMLS: AR17224125

$5,400,000

Price
Nov 7, 2017

Date

Withdrawn

CRMLS: AR17224125

$5,400,000

Price
Sep 29, 2017

Date

Active

CRMLS: AR17224125

$5,400,000

Price
Listing provided courtesy of CRMLS

265 N Oakland Ave is a 19-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 “VERY WALKABLE” location to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. Built in 1962, the property is a two-story garden style apartment with an attractive center courtyard and an excellent curb appeal. The property offers a superb unit mix of four (4) large 2-bedroom+2-bathroom, and fifteen (15) 1-bedroom+1-bathroom units. The 2-bedroom units are large and bright with an attractive and functional layout. Each unit is separately metered for electricity and gas. Parking is provided by 19 spaces in the back (11 carport and 8 tuck-under parking). Access to parking area is through building 285 N Oakland Ave. The property is being sold completely vacant in an as-is condition. This presents a clean slate opportunity for value-add investors to acquire a TRUE value-add apartment deal in a Class A location in San Gabriel Valley submarket.

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January, 2018
Jan 4, 2018

Date

Sold (Public Records)

Public Records

$22,750,000

Price

Tax History for 265 N Oakland Ave

Assessed Value (2020): $9,950,000

Year	Land Value	Improved Value	Assessed Value
2020	$7,000,000	$2,950,000	$9,950,000

About 265 N Oakland Ave

Detailed summary of property

265 N Oakland Ave is categorized with a use code of Apartment House (5+ Units) in Pasadena, CA 91101 and last sold on December 2, 2019 for $9,950,000. This property has -- bedrooms, -- bathrooms, roughly 14,192 living square feet, and sits on an approximately 20,000 square foot lot. Homes in Pasadena are selling for a median price of $1,250,000 and a median price per square foot of $763. Based on Ardent Real Estate Group's Pasadena Market Data, this home is sold 696% higher than the current median priced home. 265 N Oakland Ave was last sold on December 2, 2019 for $9,950,000. Local nearby listings include 2444 E Del Mar Blvd #109, 251 Rosemont Ave #54 and 817 N Euclid Ave. The average home in Pasadena, CA is selling in 57 days. There are currently 258 homes for sale in the Pasadena real estate market and 155 of them are single family homes while 75 of them are condos and 28 are townhomes. If you are the homeowner and looking to sell the home at 265 N Oakland Ave Pasadena, CA 91101 contact Ardent Real Estate Group and we will put you in touch with one of our Pasadena agents.

Public Facts for 265 N Oakland Ave

Public county record property details

Beds: --
Baths: --
Year built: 1962
Sq. Ft.: 14,192
Lot Size: 20,000
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 5,18-19
APN: 5723-005-036

The source for these homes facts are from public records.

91101 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$750,000

Median List Price/Sq.Ft.

$707

Median Sold Price

$846,000

Median Sold Price/Sq.Ft.

$725

Total Inventory

Median Sale to List Price %

110.59%

Avg Days on Market

Loan Type

Conventional (42.86%), FHA (0%), VA (0%), Cash (21.43%), Other (28.57%)

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