ABOUT THE ASSET

PROPERTY DESCRIPTION

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The Grand Oaks Apartments are located in central Pasadena south of Colorado Blvd. This +/- 4,934 sqft building is a 2-story, wood frame/stucco building with a torch down roof (replaced in 2007) and a raised foundation. The asphalt driveway and parking was redone approximately 2 years ago. All 6 units have their original oak hardwood floors refinished. The prior owner re-piped the building with copper pipes in 2003 and the current owner has upgraded all units with the following: kitchens have new cabinets, granite counters, tile backsplash, refrigerators, stoves/ranges with a built-in microwave above the stove, fixtures
and tile floors; bathrooms, new fixtures, toilets, tile showers and floors. All units have new white vinyl windows and sliders. All kitchens have gas stoves/ovens, refrigerators and garbage disposals. All units have wall A/C, gas wall heating and a private balcony or patio. There are 6 detached carports in the rear, roof was replaced in 2007 and there is 1 washer and 1 dryer which are owned by the landlord.

SUMMARY

PRICE

PRICE/UNIT

PRICE/SF

GRM

CAP

UNITS

YEAR BUILT

GROSS SF

LOT SF

APN

$2,300,000

$383,333

$466.15

16.75

3.71%

6

1961

4,934

8,764

5747-006-033