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Listed by ERIC CHEN • CB RICHARD ELLIS
$10,500,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 14,192 sqft
Price per Sqft $739
MLS Listing ID CRCV25058279
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1962
Lot Size 0.459 Acres
Property Sub-Type Other
Property Description
We are proud to present 265 N Oakland Ave – A 19-Unit Multifamily Community Located Just Steps From Colorado Blvd. In Pasadena, CA. The property is located south of the 210-fwy near the corner of Los Robles Ave and Walnut St, just 1-block away from Colorado Blvd where all of Pasadena’s retail and entertainment collide. The property has undergone extensive rehab in the last several years. Aside from all units being fully rehabbed, additional upgrades to the property like in-unit washer and dryers, soft-story retrofitting, and keyless entry locks have also been added. Tenants at the property also enjoy secured access, gated parking, and private balconies in select units. The property is currently leased to students at Providence Christian College, whom has master leased the property for the last 5 years. Throughout the lease, ownership benefits from 100% collections every month, and up to 5% increases in monthly rent every year. The tenant assumes responsibilities that most landlords typically inherit, which allows for minimized landlord responsibilities with strong and reliable cash flow. 265 N Oakland Ave is a 19-unit multifamily property with ±14,192 SF of rentable building space. The property sits on over ±20,000 SF of land and offers ample parking and community area. The
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Gas Dryer Hookup, Other
Building
Water Public
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