NOT LISTED FOR SALE
12 Beds
10 Baths
7,150 Sq Ft
8,425 Sq Ft

Last Sold February 12, 2024

Last sale price $2,500,000 $350 Per Sq Ft

13 Days on Market

About This Home

As of February 2024

A blend of historic charm and modern potential, 402 S. Oakland Ave. presents a unique investment opportunity in the heart of Pasadena's esteemed suburban enclave. With its establishment dating back to 1965, this property offers a canvas for modern revitalization. Situated in an area celebrated for its architectural heritage, this property is nestled amidst beautiful tree-lined streets, surrounded by distinguished estate homes and well-maintained early 20th-century residences. Its prime location combines the tranquility of a residential neighborhood with the convenience of urban living. The property is within easy reach of Pasadena's central business district, the culturally rich Pasadena Playhouse, the Norton Simon Museum, and top educational institutions like Pasadena City College and Caltech. This proximity enriches the location with cultural, educational, and lifestyle opportunities. Residents can enjoy the vibrancy of Old Town Pasadena with its eclectic mix of boutiques, galleries, cafes, and restaurants. The Paseo Colorado adds to the retail and entertainment options, while the annual Rose Parade brings a global attraction to the neighborhood. Offering a haven for outdoor enthusiasts, the property is close to green spaces like Central Park and the Arroyo Seco area, known for hiking, cycling, and golf. The convenience of major thoroughfares and the Metro Gold Line light rail makes commuting to downtown Los Angeles a breeze. For the first time since its construction in 1965, 402 S Oakland Ave is entering the market, presenting a rare and golden opportunity for investors. As a property held by the same family for over five decades, this estate sale represents a unique chance to acquire a piece of Pasadena's history. This Trustee Sale offers the property in its current 'as-is' condition, allowing investors to envision and implement enhancements to maximize its potential. Situated in a central location within a thriving market, the property holds immense promise for value appreciation, making it a highly attractive prospect for seasoned investors seeking to capitalize on its untapped potential. Unit mix 2x 1+1, 2x 2+2, 2x 3+2.

Last Agent to Sell the Property

Janette Ledea

Re/Max Tri-City Realty License #01480942 Listed on: 01/06/2024

Re/Max Tri-City Realty

Last Buyer's Agent

Joycelynn Tan

Keller Williams Realty License #02083894

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 8,425 Sq Ft Lot
  • No Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 7,150 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 10 Bathrooms

Parking

  • 10 Parking Spaces
  • 10 Carport Spaces

Additional Features

  • Exterior Lighting
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for all utilities
  • Tax Lot 27
  • Tax Tract Number 463
  • Assessor Parcel Number 5734009014
  • $1,598 per year additional tax assessments

Community Details

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • Insurance Expense $4,200
  • Trash Expense $5,940
  • Water Sewer Expense $6,000
  • Operating Expense $40,181
  • Gross Income $150,324
  • Net Operating Income $110,143

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

8,425 Sq Ft Lot

Listing Details

  • Property Attached: No
  • Water Sewer Expenses: 6000.00
  • Zoning: PSR3
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 5734009014
  • Year Built: 1965
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Fireplace Features: Living Room
  • Price Per Square Foot: 349.65

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 10.00
  • Total Parking Spaces: 10.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 5940.30
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 8425.00
  • Lot Size Acres: 0.1934

Rental Info

  • Tenant Pays: All Utilities

Multi Family

  • Average1 Bed Area: 750 Square Feet
  • Average2 Bed Area: 1250 Square Feet
  • Average3 Bed Area: 1555 Square Feet
  • Gross Income: 150324.00
  • Gross Scheduled Income: 150324.00
  • Insurance Expense: 4200.00
  • Lot Size Area: 8425.0000 Square Feet
  • Net Operating Income: 110143.00
  • Number Of Separate Electric Meters: 6
  • Number Of Units Total: 6
  • Operating Expense: 40181.00
  • Rent Control: Yes
  • Total Expenses: 40181.00

Tax Info

  • Tax Census Tract: 4636.01
  • Tax Lot: 27
  • Tax Tract Number: 463...
  • TaxOtherAnnualAssessmentAmount: 1598.00
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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
02/12/2024 02/12/24 Sold $2,500,000 -3.1% $350 / Sq Ft
01/08/2024 01/08/24 Price Changed $2,580,000 +3.2% $361 / Sq Ft
01/06/2024 01/06/24 For Sale $2,500,000 -- $350 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $12,750 $2,550,000 $1,785,000 $765,000
2024 $12,750 $1,014,957 $162,190 $852,767
2023 $12,645 $995,057 $159,010 $836,047
2022 $7,675 $557,645 $88,979 $468,666
2021 $7,351 $546,712 $87,235 $459,477
2020 $4,622 $301,254 $47,948 $253,306
2019 $4,621 $295,348 $47,008 $248,340
2018 $4,558 $289,558 $46,087 $243,471
2016 $15,168 $1,248,280 $811,383 $436,897
2015 $4,184 $274,137 $43,634 $230,503
2014 $4,149 $268,768 $42,780 $225,988
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: GD24003489

California Regional Multiple Listing Service (CRMLS)
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