Description

We are pleased to present the opportunity to acquire Oakland Apartments, a well-kept, near-turnkey asset in Pasadena, CA. The property offers an ideal unit mix of large 1- and 2-bedrom units. 6 of 8 units have been meticulously renovated with laminate wood flooring, quartz countertops, stainless steel appliances, custom kitchen cabinetry, remodeled bathrooms and new wall A/C units. Other upgrades include a new roof which was put on in 2022, some new windows, and a new shared laundry facility which is owned by the owner. The property will also be delivered with (2) vacant 2-bedroom unit, presenting the opportunity for an investor to rent it for full market rent, generating a current cap rate of 4.6%, 5.8% with market rents.

Features

• 0.29 Acres
• 2 Stories