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Sold on 02/12/2024
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402 S Oakland Ave, Pasadena, CA 91101

$2,500,000

Last sold 02/12/2024 after 39 Days

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    bath

Multi-family not for sale

About 402 S Oakland Ave

Property type Multi-family
Neighborhood
Year built 1965
HOA fee $0/month
Lot size 8,425 Sqft
Rental estimate
Property description
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.
Listed by
Listing Agent - Janette Ledea
Listing Agent Contact: 626-242-3244
Listing Office - Re/Max Tri-City Realty
Source: CRMLS mls logo
MLS#GD24003489 • last updated 2 years ago
Movoto checked CRMLS for data 4 minutes ago
Overview
Type Residential Income
SubType Commercial/Residential
Status Closed
Lot Size (Acres) 0.1934
Lot Size (SqFt) 8425
Year Built 1965
Interior
Laundry Common Area
Exterior
Building Area Square Feet, 7150
# Carport Spaces 10
# Parking Spaces 10
Lot Description 6-10 Units/Acre
Amenities / Utilities
Fireplaces Living Room
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Los Angeles
Community Features Sidewalks, Street Lights
Neighborhood Madison Heights
Zoning PSR3
Directions South Of Del Mar, North Of California
APN 5734009014
Multifamily Details
Tenant Pays All Utilities
Expense: Trash 5940.3
Operating Expense 40181
Expense: Insurance 4200
Total Expenses 40181
Expense: Water/ Sewer 6000
Gross Income 150324
Gross Scheduled Income 150324
Rental est.: $1,759/month
Gross rent multiplier: 118.4
  • Feb 2024
    mls logo MLS # GD24003489
  • Feb 13, 2024 Sold
    $2,500,000
  • Jan 22, 2024 Active
    —
  • Jan 8, 2024 Price Change
    $2,580,000 (+3.2%)
  • Jan 4, 2024 Listed
    $2,500,000
  • Feb 2024
    Public Records
  • Feb 12, 2024 Sold
    $2,500,000 (-3.1%)
  • Year Property taxes Tax assessment
  • 2024
    $12,750 +0.8%
    $1,014,957
  • 2023
    $12,645 +64.8%
    $1,014,957 +82.01%
  • 2022
    $7,675 +4.4%
    $557,645 +2.0%
  • 2021
    $7,351 +59.1%
    $546,712
  • 2020
    $4,622
    $546,712
  • 402 S Oakland Ave
    $2.5M
  • Downtown Pasadena
    $973K +5% y/y
  • 91101
    $889K -10% y/y
  • Pasadena
    $1.14M -10% y/y
No chart available
Statistics calculated by Movoto

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Source: GreatSchools.org © 2026. All rights reserved.

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The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
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