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303 N Oakland AVE Pasadena, CA 91101
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Key Details
Sold Price $6,500,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR21105662
Year Built 1958
Lot Size 0.251 Acres
Property Description
303 N Oakland Ave, a turnkey is a fully upgraded, and 100% occupied 13 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. The properties offer an investor the rare opportunity to own a high cash flowing apartment property in one of the most desirable locations in Pasadena. The property offers 100% occupancy on a master lease until June 2022. This higher cap rate for the area, combined with low interest rates offer investor over 7% cash on cash return with proper financing. This property offers higher allowable annual rent increases under California AB1482 (5% + CPI).
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Zoning PSC-
Interior
Heating Combination, High Efficiency
Cooling High Efficiency, Wall/Window Unit(s)
Flooring Vinyl, Wood
Fireplaces Type None
Laundry Inside
Exterior
Parking Features Attached Carport, Assigned, Controlled Entrance, Carport, Detached Carport
Pool None
Community Features Suburban, Valley, Gated
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N Yes
View Mountain(s)
Building
Lot Description Level, Near Public Transit, Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Bought with Mark Repstad • Mark Repstad