265 N Oakland Avenue
Pasadena, CA 91101
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1962 build
- – on site
We are proud to present 265 N Oakland Ave – A 19-Unit Multifamily Community Located Just Steps From Colorado Blvd. In Pasadena, CA. The property is located south of the 210-fwy near the corner of Los Robles Ave and Walnut St, just 1-block away from Colorado Blvd where all of Pasadena’s retail and entertainment collide. The property has undergone extensive rehab in the last several years. Aside from all units being fully rehabbed, additional upgrades to the property like in-unit washer and dryers, soft-story retrofitting, and keyless entry locks have also been added. Tenants at the property also enjoy secured access, gated parking, and private balconies in select units. The property is currently leased to students at Providence Christian College, whom has master leased the property for the last 5 years. Throughout the lease, ownership benefits from 100% collections every month, and up to 5% increases in monthly rent every year. The tenant assumes responsibilities that most landlords typically inherit, which allows for minimized landlord responsibilities with strong and reliable cash flow. 265 N Oakland Ave is a 19-unit multifamily property with ±14,192 SF of rentable building space. The property sits on over ±20,000 SF of land and offers ample parking and community area. The units consist of 15, 1-Bedroom/1-Bathroom and 4, large 2-Bedroom/1-Bathroom units. Based on the master lease in-place, the units average over $3,000 per month. On average, these units will rent slightly below that if leased traditionally, which allows an investor to cash flow stronger than competing apartment communities nearby. There is additional revenue potential through the addition of 2 ADUs (buyer to verify with city). This opportunity can be an excellent fit for an exchange buyer entering the multifamily market in Pasadena and capitalizing on the benefits of the master lease in-place.
Last checked:
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Last updated Mar 18, 2025
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MLS# CV25058279 —
The Building
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Year Built:1962
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:14192.00
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Building Area Units:Square Feet
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Total Number Of Units:19
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# of Buildings:2
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:19
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# of Separate Water Meters:1
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# of Separate Electric Meters:19
Interior
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Levels:Two
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Entry Location:1
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Laundry:Gas & Electric Dryer Hookup, Washer Hookup
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Laundry:1
Location
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Directions:Merge onto I-210 W/Foothill Fwy toward Pasadena, Exit Lake Avenue, Use the right lane to merge onto E Maple St, Turn left onto El Molino Ave, Turn right onto E Walnut St, Turn right onto N Oakland Ave
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Latitude:34.15045600
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Longitude:-118.14034000
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:PSC-
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Lot Features:16-20 Units/Acre
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Lot Size Area:20001.0000
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Lot Size Acres:0.4592
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Lot Size SqFt:20001.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:D
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Tax Census Tract:4622.02
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Tax Tract:462202
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Tax Lot:19
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5723005036
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Curbs, Sidewalks
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
Parking
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Parking Spaces:19.00
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Carport Spaces:19.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
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3/17/25
Mar 17, 2025
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Listed / Active | CRMLS_CA | $10,500,000 | 5.5% (1.0% / YR) |
|
5/28/24
May 28, 2024
|
Listed / Active | CRMLS_CA | ||
|
8/26/23
Aug 26, 2023
|
Price Changed | CRMLS_CA |
