Descriptionof 251 N Oakland Avenue, Pasadena, CA 91101
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.
Property Featuresof 251 N Oakland Avenue, Pasadena, CA 91101
Year Built 1962
Community 647 - Pasadena (SW)
Parking spaces: 79.00
Lot acreage is: 1.6694
Lot zoned: PSC-
Units in building(s): 80
Leased units: 80
Total square feet: 72718.00
Property style: 2 Story Home
Courtesy of: GIG Real Estate Inc., Handoko Chen
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