1450 Fair Oaks AvePasadena, CA 91103

Property Details for 1450 Fair Oaks Ave

Year built

1965

Construction

WOOD

Lot size

0.80 AC

Property size (Sq ft)

28,512 SF

Zone code

PSC*

Property type

Healthcare properties

Property subtype

Assisted living facilities

APN

5728-011-022

APU

5728011022

Description

This exceptional 28,512 square foot multifamily property, located at 1450 N Fair Oaks Ave in Pasadena, California (91103), presents a compelling value-add or repositioning opportunity. The property, built in 1965 and situated on a 35,000 square foot lot, is currently offered at $5,800,000 ($203.42/SF). The building boasts a diverse range of features including a lobby, multiple offices, activity/dining room, dorm-style showers, commercial kitchen, commercial laundry room, Jack & Jill restrooms, an elevator, employee lounge area, conference room, and two patios. Parking is provided for 30 vehicles. The property's permitted zoning (FGSP-RM-16) allows for a variety of uses including transitional housing, supportive housing, single/multi-family housing, home occupations, and limited adult and child day care. Its strategic location, one block north of Washington Blvd and within a half-mile of the 210 freeway and 1 ¼ miles of the 134 freeway, offers excellent accessibility. Note that this is a bankruptcy sale and was formerly a 24/7 extended care facility. This presents a unique chance to acquire a substantial property in a desirable location with significant potential for redevelopment or repositioning. The Los Angeles County Assessor's Parcel Number (APN) is 5728-011-022.

• CAP approach

  CAP return

  Valuation

  6%

  $8,449,442

  6.5%

  $7,799,486

  7%

  $7,242,379

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,224,793

  Geo Method

  $6,235,118

• Alternative Use

  Use

  Valuation

  Residential

  $9,893,976

  Hospitality

  $9,062,829

  Educational

  $7,540,168

  Medical

  $7,799,486

  Retail

  $11,729,149

Location Insight

City

Pasadena

County

Los Angeles

State

California

Latitude

34.1708

Longitude

-118.15

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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