4 Single story unit blocks from Old Town Pasadena, Large RM48 Zone Lot, 1 unit vacant

Highlights:

• • Prime Single Story Fourplex near Old Town Pasadena and Rose Bowl
• • Perfect for an owner user or a first-time home/apartment investor
• • SUPERB demographics with ±$112,873 average household income within a 1-mile radius
• • Walk Score 78, Bike Score 91
• • Highly desirable single-story construction on a large lot size (RM-48 Zoned)
• • Excellent mix with All 1bed+1bath units; Super easy to rent and manage
• • Large lot size of 11,038 SF R4 ZONED Lot!
• • Property has brand new roof and all new electrical wiring (upgraded in 2020), new water heaters, new garage door opener, new landscaping (south side), new fence and gate, new trash bin concrete area
• • Front building has been seismically retrofitted (buyer to verify)
• • 4 to 6 parking spaces: 3 detached garages and 3 open parking spaces, no soft story retrofit is required
• • Separately metered for electricity and gas, no soft story retrofit is required

Description:

4-unit Single Story several blocks north of Old Town Pasadena, Large ±10k SF RM-48 Zoned Lot, Garage parking, New roofs, New Electrical, and many other CAPEX. Easy to Rent and Manage, 1 unit can be delivered vacant.

Growth Investment Group California is proud to offer 395-401 N Oakland Ave, a value-add Single story fourplex community in the City of Pasadena. Situated only several blocks north of Old Town Pasadena, a block west of Los Robles Ave, and just within walking distance of many dining, shopping, and other attractions in Pasadena, the property offers a highly desirable single-story layout on a large 9739SF RM-48 (high density) zone lot. The front unit is vacant and can be delivered vacant for an owner-user purchase.

The property consists of 2 duplexes, and a detached 3 car garage. The unit mix is all 1bedroom+1bathroom, which makes it very easy to rent and manage. The ownership has spent countless hours and capital in improving the property in the past 5 years which includes new roofs, new electrical wiring and panels, new landscaping (south side), new property gate and fence, new water heater for each unit, new garage door opener, and new concrete for trash bin area. Front building has been seismically retrofitted (buyer to verify), and back buildings are on slab foundation.

The property was built in 1901, has a total of ±2,602 SF building size and is situated on a large ±9,739 SF RM-48 (High Density) zoned lot. The front 2 units have been upgraded with laminate/vinyl wood flooring, new A/C, updated bathroom, and updated kitchen. One of the front units (No. 395) is currently vacant and can be delivered vacant at close of escrow, making it a suitable purchase for an owner-user who would like to live in one unit and rent out the other 3. The back 2 units have had some updates which include new A/C, upgraded electricals, and new water heaters. Each of these 2 units have a large private backyard.

The property has 6 parking spaces (3 detached garages + 3 open spaces). Each unit has individual water heaters and separately meters for electricity and gas. Laundry is provided via shared laundry area (seller’s own machine).

LOCATION AMENITIES AND ACCESS
The property is in the highly desirable area of Pasadena just several blocks north of Old Town Pasadena. It is situated on a quiet tree-lined street and within minutes from the Gold Line and numerous additional shopping and dining options on Colorado Boulevard and Lake Avenue. Near Pasadena’s historic City Hall, it sits just minutes from 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. Historic Old Pasadena’s charming storefronts house 200 shops plus a wide array of restaurants and night spots. The Pasadena Convention Center, Pacific Asia Museum, the historic Tournament of Roses house, and the Norton Simon Museum are minutes away. The property has superb access to FWY 110 and 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.

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