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275 S Oakland Ave, Pasadena, CA 91101
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275 S Oakland Ave Pasadena, CA 91101

$10,500,000 Sold Price as of 09/13/2022
  • 39 Beds
  • 24 Baths
  • 27,525 Sq.Ft.
Sold
$10,500,000 Sold Price as of 09/13/2022 Refinance Your Mortgage
Map preview of 275 S Oakland Ave, Pasadena, CA 91101

Property Overview: 275 S Oakland Ave Pasadena, CA has 39 bedrooms, 24 bathrooms, 27,525 living square feet and 16,195 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to acquire a rare, partially remodeled, 24 unit multi-family investment opportunity at 275 South Oakland Avenue in Pasadena, California. Built in 1962 and well maintained by the current ownership, this 27,525 square foot building consists of ten 2 bedroom 1.75 bath units, five 2 bedroom 1 bath units and nine 1 bedroom 1bath units. Located on one of the best streets in Pasadena, all 24 units have central heating and air conditioning along own individual meters for gas and electricity. Recent upgrades to the property include an updated modern elevator cab interior and renovated pool. The property features a secured entry and lobby, 34 on-site gated parking spaces, balconies in select units and laundry facilities on each floor. With an outstanding Walk-Score of 88, this provides residents an abundance of walking distance amenities, countless dining options, entertainment venues & shopping. Given the property's unmatched location and opportunity for earning potential, 275 South Oakland is a generational asset that can offer investors strong risk-mitigated returns and long-term appreciation.

Listed by Benjamin J. Hsiang | BRE #01438644 | Realty Investment Advisors, Inc.
Co-listed by Alexander Metaxas | BRE #01784652 | Realty Investment Advisors, Inc.
Last checked: 1 minute ago | Last updated: September 13th, 2022 | Source CRMLS | DOM: 38

Home details

Lot Sq. Ft
16,195
HOA Dues
$0/mo
Year built
1962
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22170471
City
Pasadena
County
Los Angeles
Time on Site
676 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 24
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 5
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,165
  • Total Rent: $10,825
  • Pro Forma/Market Rent: $13,000
Unit Breakdown 2
  • # of Units: 10
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,276
  • Total Rent: $22,755
  • Pro Forma/Market Rent: $28,000
Unit Breakdown 3
  • # of Units: 9
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,888
  • Total Rent: $16,990
  • Pro Forma/Market Rent: $21,150
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 2.74%
  • Gross Rent Multiplier: 19.42
  • Gross Scheduled Income: --
  • Net Operating Income: $325,052
  • Gross Operating Income: $593,291
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 275 S Oakland Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Community, Individual Room
Kitchen Information
  • Has Appliances
  • Dishwasher
Interior Features
  • Security Features: Card/Code Access
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • Pool Features: In Ground
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 34
  • Has Parking
  • Parking Features: Covered, Controlled Entrance
Property Information
  • Total # of Units: 24
  • Parcel Number: 5734010084
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
  • Association Amenities: Controlled Access, Pool
Location / Neighborhood
Location Information
  • Directions: South of Colorado Blvd
View more facts & features

Local Pasadena Agent

Sale History for 275 S Oakland Ave

Last sold for $10,500,000 on September 13th, 2022

  • September, 2022

  • Sep 13, 2022

    Date

    Sold

    CRMLS: 22170471

    $10,500,000

    Price

  • Jun 21, 2022

    Date

    Active

    CRMLS: 22170471

    $11,880,000

    Price

  • December, 2011

  • Dec 29, 2011

    Date

    Sold (Public Records)

    Public Records

    $4,600,046

    Price

  • October, 2011

  • Oct 17, 2011

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 275 S Oakland Ave

Assessed Value (2020): $5,295,115
Year Land Value Improved Value Assessed Value
2020 $2,113,245 $3,181,870 $5,295,115

Home Value Compared to the Market

This property vs the competition

275 S Oakland Ave sold on September 13, 2022 for 890% higher than the current median sold price for the city of Pasadena which is $1,200,000. The median sold price per/sqft for Pasadena is $778 and this home is sold at $431.61 per/sqft which puts the price per square foot 44.52% lower than the current median sale per square foot for the city of Pasadena.

About 275 S Oakland Ave

Detailed summary of property

275 S Oakland Ave is a multi family that recently sold in Pasadena, CA 91101. This multi family property offered 39 bedrooms, 24 bathrooms, roughly 27,525 living square feet, and sits on an approximately 16,195 square foot lot. 275 S Oakland Ave was first listed on ArdentRealEstateGroup.com on June 21, 2022. The homeowner sold the property for $10,500,000. Home in Pasadena are selling for a median price of $1,200,000 and a median price per square foot of $778. Based on Ardent Real Estate Group's Pasadena Market Data, this home is sold 890% higher than the current median priced home. Local homes that are currently for sale include 283 Avocado St, 4005 Seashore and 2442 S Coast. While the average home in Pasadena, CA is selling in 59 days, 275 S Oakland Ave has a days on market of 38 days. There are currently 255 homes for sale in the Pasadena real estate market and 155 of them are single family homes while 76 of them are condos and 24 are townhomes. For more information on this home for sale at 275 S 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 275 S Oakland Ave

Public county record property details
Beds
--
Baths
--
Year built
1962
Sq. Ft.
27,525
Lot Size
16,194
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
1
APN
5734-010-084

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
$699,000
Median List Price/Sq.Ft.
$688
Median Sold Price
$780,000
Median Sold Price/Sq.Ft.
$653
Total Inventory
46
Median Sale to List Price %
101.3%
Avg Days on Market
17
Loan Type
Conventional (28.57%), FHA (0%), VA (0%), Cash (28.57%), Other (14.29%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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