The Growth Investment Group is proud to offer 275 N Oakland Ave, a turn-key, fully upgraded, and 100% occupied 12 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 1956. It is a two-story garden style apartment with an excellent curb appeal. It offers a good unit mix of nine (9) large 1-bedroom+1-bathroom, and three (3) studio 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. It has 11 parking spaces in the back and 2 spaces in the front. 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, new high durability wood vinyl and tile flooring, new windows, state of the art mini-split HVAC systems, new kitchens, which include new cabinets, quartz countertops, and new stainless steel appliances, and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures.
A new owner is presented with the security of in-place master leases for all five (5) properties, with four (4) properties (#251, 265, 275, 303) leased to Providence Christian College, a private Christian liberal arts college, and one (1) property (#285) leased to Fuller Theological Seminary.
Given its excellent real estate fundamentals, which include desirable non rent-controlled status, complete renovation, full seismic retrofitting, and an unbeatable location, the 275 N Oakland Ave is an unparalleled investment for an investor seeking stable risk-adjusted returns, wealth preservation, and a hedge against inflation.
