303 N OAKLAND AVE Pasadena CA 91101-1646

The property, which has been completely renovated, was built in 1958. It is a two-story garden style apartment with an excellent curb appeal. It offers an excellent unit mix of six (6) large 2-bedroom+1-bathroom, and seven (7) 1-bedroom+1-bathroom 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 13 parking spaces and in the back. The soft-story parking area has been seismically retrofitted. Several 2nd floor units have private patio with views of San Gabriel Mountains.

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.

Given its excellent real estate fundamentals, complete renovation, full seismic retrofitting, and an unbeatable location, the 251 N Oakland Ave is an unparalleled investment for an investor seeking stable risk-adjusted returns, wealth preservation, and a hedge against inflation.

LOCATION AMENITIES AND ACCESS

The property is in the highly desirable downtown area of Pasadena – more specifically, in the renowned Pasadena Playhouse district situated south of the 210 Freeway. Boasting a Walk Score of 87 in the most walkable zip code in all of Pasadena, the Arroyo Collection is conveniently located just a few blocks from Old Town Pasadena, the Paseo Colorado, and the Pasadena Playhouse. The properties are also a quick walk from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue. Near Pasadena’s historic City Hall, the Arroyo Collection sits just minutes from Huntington Hospital, the California Institute of Technology, Pasadena Community College, and the 210 and 110 Freeways, offering ease of access to neighboring cities and entertainment destinations in the region.

Less than a mile away, historic Old Pasadena’s charming storefronts house 200 shops plus a wide array of restaurants and night spots. The Pasadena Convention Center and Pacific Asia Museum are within walking distance. In addition, the California Technical Institute, the historic Tournament of Roses house, and the Norton Simon Museum are all less than two miles away.

The property has superb access to FWY 210 and offers an easy commute to additional employment centers of downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway.

• Turn-key and fully upgraded apartment properties in Class A location (walk score 87, walking distance to Old Town Pasadena)
• Top-down renovation have been completed in 2018! The first properties to be voluntarily upgraded in the City of Pasadena.
• Over ±$6 million (hard- and soft-cost) upgrades spent on the portfolio (including 303 N Oakland)
• In-place tenants with full occupancy in a Class A location in San Gabriel Valley submarket
• Inflation and recession proof investment with full occupancy secured by a strong tenant.
• Highest allowable annual rent increases by CA AB1482 (5% + CPI)
• Superb amenities within walking distance:
• Shopping & Lifestyle: Paseo Colorado, Old Town Pasadena, Apple store, 24-hour Fitness, Target, Vroman Bookstore, Urth Café, etc.
• Arts & Museums: USC Pacific Asia Museum, Pasadena Museum of California Art, Pasadena Playhouse, Norton Simon Museum
• Downtown Pasadena: Pasadena City Hall, Pasadena Public Library, Pasadena Courthouse
• The Westin Pasadena, Pasadena Convention Center, Pasadena Ice Skating Rink
• Strong demographics with ±$109,756 average household income within a 1-mile radius
• Highly desirable area, south of 210 Freeway
• Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110
• Attractive garden style apartments with excellent curb appeal
• Amenities: gated parking, secured entrance, electronic RFI unit locks, covered parking, upgraded unit
• Separately metered for electricity and gas

The Growth Investment Group is proud to offer STONECREST, 303 N Oakland Ave, a 13-unit value-add non-rent controlled apartment investment opportunity located in the highly desirable City of Pasadena, CA. The property is located within the Pasadena Playhouse District, an eclectic cosmopolitan community rich in history and architecture. Because of this superb location, it has a Walk Score 87 out of 100, demonstrating “VERY WALKABLE” location to a variety of nearby amenities such as restaurants, shops,health clubs and entertainment venues.

Built in 1958, the property is a two-story garden style apartment with an attractive curb appeal. The property offers a good unit mix of six (6) 2-bedroom+1-bathroom, and seven (7) 1-bedroom+1-bathroom units. Each unit is large and bright with excellent layout. Several 2nd floor units have private patio area with views of San Gabriel Mountains. Each unit is separately metered for electricity and gas. Parking is provided by 13 spaces (6 carport, 5 tuck-under, and 2 subterranean parking). The access to parkingarea is located on Corson St.

The property is being sold completely vacant in an as-is condition. This presents a clean slate opportunity for value-add investors to acquire a TRUE value-add apartment deal in a Class A location in San Gabriel Valley submarket.

• TRUE Prime value-add opportunity with 100% vacancy in a Class A location in the San Gabriel Valley submarket
• Excellent location within the Downtown Pasadena area; Nearby amenities within walking distance
• NON-rent controlled value-add apartment deal that does not require any tenant buyout
• Strong demographics with ±$117,000 average household income within a 3-mile radius
• Highly desirable area South of 210 FWY with VERY LIMITED INVENTORY
• Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110
• One of the strongest submarkets in the San Gabriel Valley; High rent growth and low vacancy rate area
• Attractive garden style apartment with an excellent curb appeal
• Good unit mix with equal distribution of 2bedroom and 1bedroom units
• Amenities: gated parking, secured entrance
• Separately metered for electricity and gas
• Some units have private patio/balcony with views of San Gabriel Mountains
• Blank canvas for a creative investor to rehab the property and maximize its income potential