NOT LISTED FOR SALE
39 Beds
34 Baths
27,525 Sq Ft
0.37 Acres Lot

Sale Details

Date Sold: September 13, 2022

Last sale price $10,500,000 $381 Per Sq Ft

38 Days on Market

Highlights

  • In Ground Pool
  • Elevator
  • Card or Code Access
  • 0.37 Acre Lot
  • Balcony
  • Laundry Room

About This Home

As of September 2022

We are pleased to present the opportunity to acquire a rare, partially remodeled, 24 unit multi-family investment opportunity at 275 South Oakland Avenue in Pasadena, California. Built in 1962 and well maintained by the current ownership, this 27,525 square foot building consists of ten 2 bedroom 1.75 bath units, five 2 bedroom 1 bath units and nine 1 bedroom 1bath units. Located on one of the best streets in Pasadena, all 24 units have central heating and air conditioning along own individual meters for gas and electricity. Recent upgrades to the property include an updated modern elevator cab interior and renovated pool. The property features a secured entry and lobby, 34 on-site gated parking spaces, balconies in select units and laundry facilities on each floor. With an outstanding Walk-Score of 88, this provides residents an abundance of walking distance amenities, countless dining options, entertainment venues & shopping. Given the property's unmatched location and opportunity for earning potential, 275 South Oakland is a generational asset that can offer investors strong risk-mitigated returns and long-term appreciation.

Last Agent to Sell the Property

Benjamin Hsiang

Realty Investment Advisors, Inc. License #01438644 Listed on: 06/21/2022

Co-Listed By

Alexander Metaxas

Realty Investment Advisors, Inc. License #01784652

Last Buyer's Agent

Benjamin Hsiang

Realty Investment Advisors, Inc. License #01438644 Listed on: 06/21/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 0.37

Interior Spaces

  • 27,525 Sq Ft Home
  • 3-Story Property
  • Laundry Room

Kitchen

  • Oven or Range
  • Dishwasher

Bedrooms and Bathrooms

  • 39 Bedrooms
  • 34 Bathrooms

Parking

  • 34 Parking Spaces
  • Covered Parking
  • Controlled Entrance

Outdoor Features

  • In Ground Pool
  • Balcony

Additional Features

  • 16,195 Sq Ft Lot
  • Central Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number 5734-010-084

Community Details

Amenities

  • Laundry Facilities
  • Elevator

Recreation

  • Community Pool

Additional Features

  • 24 Units
  • Card or Code Access

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0.37 Acres

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 27525
  • Lot Acreage: 0.3718
  • Stories: 3
  • Year Built: 1962
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 39
  • Laundry: Community, Room
  • Total Bathrooms: 34.00
  • Equipment: Dishwasher, Hood Fan, Range/Oven
  • Price Per S Q F T: 431.61

Exterior Features

  • Other Features: Balcony
  • Other Structures: None
  • Pool Description: In Ground
  • Pool: Yes
  • Spa Yn: No

Garage/Parking

  • Parking Garage: Covered Parking, Controlled Entrance
  • Total Parking: 34

Utilities

  • Cooling: Air Conditioning, Central
  • Heating: Central
  • Security: Card/Code Access
  • Water Heaters: Yes

Association/Amenities

  • Amenities: Elevator, Controlled Access, Pool

Lot Info

  • Assessed Improvement Percent: 60.00
  • Assessed Improvement Value: 3202709
  • Assessed Land Percent: 40
  • Assessed Land Value: 2135138
  • Total Assessed Value: 5337847
  • Assessor Parcel Number: 5734-010-084
  • Lot Size Area: 16195

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 19.42
  • Number Of Units: 24
  • Type Of Units: Apartments
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/13/2022 09/13/22 Sold $10,500,000 -11.6% $381 / Sq Ft
07/29/2022 07/29/22 Pending -- -- --
06/21/2022 06/21/22 For Sale $11,880,000 -- $432 / Sq Ft
Source: The MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $123,018 $10,924,200 $7,282,800 $3,641,400
2024 $123,018 $10,710,000 $7,140,000 $3,570,000
2023 $122,019 $10,500,000 $7,000,000 $3,500,000
2022 $64,960 $5,444,603 $2,177,840 $3,266,763
2021 $62,258 $5,337,847 $2,135,138 $3,202,709
2019 $59,967 $5,191,525 $2,071,809 $3,119,716
2018 $61,193 $5,089,967 $2,031,186 $3,058,781
2016 $59,087 $4,880,785 $1,952,313 $2,928,472
2015 $58,437 $4,807,472 $1,922,988 $2,884,484
2014 $57,319 $4,713,301 $1,885,320 $2,827,981
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 22-170471

The MLS
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