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285 N Oakland Ave, Pasadena, CA 91101
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285 N Oakland Ave Pasadena, CA 91101

$9,600,000 Sold Price as of 02/17/2020
  • 30 Beds
  • 27 Baths
  • 18,216 Sq.Ft.
Sold
$9,600,000 Sold Price as of 02/17/2020 Refinance Your Mortgage
Map preview of 285 N Oakland Ave, Pasadena, CA 91101

Property Overview: 285 N Oakland Ave Pasadena, CA has 30 bedrooms, 27 bathrooms, 18,216 living square feet and 22,006 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 285 N Oakland Ave is a turn-key, fully upgraded, and 100% occupied 22 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. The property, which has been completely renovated, was built in 1960. It is a two-story garden style apartment with an attractive center courtyard and an excellent curb appeal. It offers a superb unit mix of five (5) large 2-bedroom+2-bathroom, three (3) large 2-bedroom+1.5-bathroom, and fourteen (14) 1-bedroom+1-bathroom units. 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. Several 2nd floor units have high-ceiling, and private patios. It has 20 parking spaces and in the back. The soft-story parking area has been seismically retrofitted. All of the units have undergone a top-to-bottom renovation with full electrical and plumbing upgrades.

Listed by Handoko Chen | BRE #01749321 | GIG Real Estate Inc.
Last checked: 15 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 145

Home details

Lot Sq. Ft
22,006
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Apartment
Status
Sold
MLS#
AR19215835
City
Pasadena
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 22
  • Total # of Buildings: 1
  • # of Electric Meters: 23
  • # of Gas Meters: 23
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 5
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 5
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $12,464
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $7,331
Unit Breakdown 3
  • # of Units: 14
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 12
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $29,709
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 18
  • Gross Scheduled Income: $0
  • Net Operating Income: $0
  • Gross Operating Income: $0
Annual Expense Breakdown
  • Total Operating Expense: $0
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Virtual Tour

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Property Details for 285 N Oakland Ave

Interior Features
Cooling Information
  • Has Cooling
  • ENERGY STAR Qualified Equipment, High Efficiency, SEER Rated 16+
Heating Information
  • Has Heating
  • ENERGY STAR Qualified Equipment, High Efficiency, Combination
Laundry Information
  • Has Laundry
  • Dryer Included, Inside, Washer Included
Fireplace Information
  • No Fireplace
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 20
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: Lot 20000-39999 Sqft, Rectangular Lot, Level, Near Public Transit
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 22
  • Parcel Number: 5723005034
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Assessment Information
  • Has Assessments
  • Assessments: Buyer to Verify
Location / Neighborhood
Location Information
  • Directions: south of 210 FWY, one block east of Los Robles Ave, north of Walnut St
Neighborhood Information
  • Community Features: Urban, Valley
View more facts & features

Local Pasadena Agent

Sale History for 285 N Oakland Ave

Last sold for $15,000,000 on February 18th, 2020

  • February, 2020

  • Feb 18, 2020

    Date

    Sold (Public Records)

    Public Records

    $15,000,000

    Price

  • February, 2020

  • Feb 17, 2020

    Date

    Sold

    CRMLS: AR19215835

    $9,600,000

    Price

  • Sep 10, 2019

    Date

    Active

    CRMLS: AR19215835

    $10,560,000

    Price

  • April, 2018

  • Apr 29, 2018

    Date

    Expired

    CRMLS: AR17225182

    $22,490,000

    Price

  • Nov 7, 2017

    Date

    Withdrawn

    CRMLS: AR17225182

    $22,490,000

    Price

  • Sep 30, 2017

    Date

    Active

    CRMLS: AR17225182

    $22,490,000

    Price

  • Listing provided courtesy of CRMLS

    PASADENA COLLECTION is 80-unit value-add non-rent controlled apartment investment opportunity located in the highly desirable city of Pasadena, CA. The portfolio 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. The portfolio consists of Five (5) apartment buildings that are adjacent to each other: 251 N Oakland Ave (14-units), 265 N Oakland Ave (19-units), 275 N Oakland Ave (12-units), 285 N Oakland Ave (22-units), and 303 N Oakland Ave (13-units). The portfolio 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.

  • April, 2018

  • Apr 29, 2018

    Date

    Expired

    CRMLS: AR17224130

    $6,410,000

    Price

  • Nov 7, 2017

    Date

    Withdrawn

    CRMLS: AR17224130

    $6,410,000

    Price

  • Sep 29, 2017

    Date

    Active

    CRMLS: AR17224130

    $6,410,000

    Price

  • Listing provided courtesy of CRMLS

    285 N Oakland Ave is a 22-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 1960, the property is a two-story garden style apartment with an attractive center courtyard, a swimming pool and an excellent curb appeal. The property offers a superb unit mix of six (6) large 2-bedroom+2-bathroom, two (2) 2-bedroom+1-1/2-bathroom and fourteen (14) large 1-bedroom+1-bathroom units. Each unit is large and bright with excellent layout. The 2-bedroom units are large and bright with an attractive and functional layout. Several 2nd floor front units have pitched ceiling, large windows with views and private balcony/patio. Each unit is separately metered for electricity and gas. Parking is provided by 20 spaces in the back (12 carport and 8 tuck-under parking). 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.

  • January, 2018

  • Jan 4, 2018

    Date

    Sold (Public Records)

    Public Records

    $22,750,000

    Price

Show More

Tax History for 285 N Oakland Ave

Assessed Value (2020): $6,581,611
Year Land Value Improved Value Assessed Value
2020 $4,473,720 $2,107,891 $6,581,611

Home Value Compared to the Market

This property vs the competition

285 N Oakland Ave sold on February 17, 2020 for 780% 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 $781 and this home is sold at $579.71 per/sqft which puts the price per square foot 25.77% lower than the current median sale per square foot for the city of Pasadena.

About 285 N Oakland Ave

Detailed summary of property

285 N Oakland Ave is a apartment that recently sold in Pasadena, CA 91101. This apartment offered 30 bedrooms, 27 bathrooms, roughly 18,216 living square feet, and sits on an approximately 22,006 square foot lot. 285 N Oakland Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $9,600,000. Home in Pasadena are selling for a median price of $1,200,000 and a median price per square foot of $781. Based on Ardent Real Estate Group's Pasadena Market Data, this home is sold 780% higher than the current median priced home. Local homes that are currently for sale include 11666 Mayfield Ave, 11942-11948 Darlington Ave and 2550 College Pl. While the average home in Pasadena, CA is selling in 56 days, 285 N Oakland Ave has a days on market of 145 days. There are currently 335 homes for sale in the Pasadena real estate market and 179 of them are single family homes while 119 of them are condos and 37 are townhomes. For more information on this home for sale at 285 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 285 N Oakland Ave

Public county record property details
Beds
--
Baths
--
Year built
1960
Sq. Ft.
18,216
Lot Size
22,006
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
5,15-16
APN
5723-005-034

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
$819,900
Median List Price/Sq.Ft.
$728
Median Sold Price
$800,000
Median Sold Price/Sq.Ft.
$798
Total Inventory
59
Median Sale to List Price %
99.01%
Avg Days on Market
60
Loan Type
Conventional (45.45%), FHA (0%), VA (0%), Cash (36.36%), Other (18.18%)

Thinking of Selling?

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(714) 706-1823

Homes for Sale Near 285 N Oakland Ave

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Recently Sold Homes Near 285 N Oakland Ave

275 N Oakland Ave, Pasadena, CA 91101
$5,400,000 Last Sold Price
9 Beds
12 Baths
8041 Sq.Ft.
275 N Oakland Ave
Pasadena, CA 91101
251 N Oakland Ave, Pasadena, CA 91101
$6,225,000 Last Sold Price
14 Beds
14 Baths
0 Sq.Ft.
251 N Oakland Ave
Pasadena, CA 91101
303 N Oakland Ave, Pasadena, CA 91101
$6,500,000 Last Sold Price
19 Beds
13 Baths
9658 Sq.Ft.
303 N Oakland Ave
Pasadena, CA 91101
395 N Oakland Ave, Pasadena, CA 91101
$1,140,000 Last Sold Price
4 Beds
4 Baths
2602 Sq.Ft.
395 N Oakland Ave
Pasadena, CA 91101

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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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