303 N Oakland AVE, Pasadena, CA 91101 – AR21105662 - Paul Ward

$6,500,000

Est. payment -/mo

Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

0.25 Acres Lot

SOLD DATE : 09/17/2021

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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Paul Ward

paul@homeandranchteam.com +1(805) 479-5004

Our team is ready to help you sell your home for the highest possible price ASAP

Listed by Handoko Chen • GIG Real Estate Inc.
Bought with Mark Repstad • Mark Repstad

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Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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