Request Offering Memorandum

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167 S Oak Knoll Avenue

Pasadena, CA. 91101

OAK KNOLL APARTMENTS

Walker's Paradise - 94 Walk Score

Call us! 626.204.3300

ABOUT THE ASSET

PROPERTY DESCRIPTION

Bridge Investment Group of KW Commercial is pleased to announce a unique opportunity to acquire a 15-unit apartment building, the Oak Knoll Apartments. Available for the first time in 43 years, this is an opportunity for any investor looking to purchase property in a prime location of Pasadena, with a true value-add component. The subject property consists of an excellent unit mix of three studios, four 1 bed/1 bath units, seven 2 bed/1 bath units, and one 2 bed/2 bath unit. The units are individually metered for gas and electric, and master metered for water. The property offers 6 tuck-under spaces, 8 carport spaces, and 1 garage space, as well as a shared laundry room. 


Across the street from the Oak Knoll Apartments are the Pasarroyo Office Buildings, which are currently undergoing a $50 million dollar renovation, with upgrades focused on a central plaza, with commercial spaces for new restaurants and retailers.

The Oak Knoll Apartments have a Walker's Paradise score of 94, and are just one block west of The Shops on Lake Avenue and the South Lake Avenue Financial District. South Lake Avenue is home to Macy's department store and historic restaurants such as Celestino Ristorante and Smitty's Grill, as well as new favorites, the Granville and Mendocino Farms. South Lake Avenue's beautifully tree-lined street provides quick access to the 210 Freeway, Colorado Boulevard, and the Metro Line. The subject property is also located one block south of the Playhouse District, which is notable for being the entertainment hub of Pasadena: with the Pasadena Playhouse theater, the annual Rose Parade, and the Pasadena International Film Festival, all within a few minutes walking.

SUMMARY
PRICE
PRICE/UNIT
PRICE/SF
GRM
CAP
UNITS
YEAR BUILT
GROSS SF
LOT SF
APN
$5,105,000
$340,333
$456.33
17.74
3.53%
15
1958
11,187
14,538
5734-023-019

Family Owned and Operated for 43 Years

© 2016 Bridge Investment Group of KW Commercial

251 S. Lake Avenue, Suite 320

Pasadena, CA 91101

DRE #01444805