THE ARROYO COLLECTION

251, 265, 275, 285, 303 N Oakland Ave, Pasadena, CA (can be acquired as portfolio or individually)

5 buildings, 80-unit Turn Key, Fully Upgraded, 100% Occupied Luxury apartments in a Class A location in Pasadena

Within walking distance Downtown Pasadena, Walk Score 86 - Bike Score 93

Over $6million of Capital Improvements spent on the portfolio

Soft-story Parking Seismic Retrofit have been completed

ZERO VACANCY apartments, 100% occupied for the next 2-3 years

INVESTMENT & LOCATION HIGHLIGHTS

• NON-rent-controlled, Turn-key and fully upgraded apartment properties in Class A location (walk score 87, walking distance to Old Town Pasadena)
• Top-down renovation have been completed in 2018! The first properties to be voluntarily upgraded in the City of Pasadena.
• Over ±$6 million (hard- and soft-cost) upgrades spent on the portfolio
• All properties have had soft-story earthquake seismic retrofit and mandated by the city.
• In-place tenants with full occupancy in a Class A location in San Gabriel Valley submarket
• Recession proof investment with full occupancy for the next 2 to 3 years secured by strong tenants (with up to 5% built-in contractual annual rent increases)
• Superb amenities within walking distance: Paseo Colorado, Old Town Pasadena, Apple store, 24-hour Fitness, Target, Vroman Bookstore, Urth Café, USC Pacific Asia Museum, Pasadena Playhouse, Pasadena City Hall, Pasadena Public Library, Pasadena Courthouse, etc.
• Strong demographics with ±$109,756 average household income within a 1-mile radius
• Highly desirable area, south of 210 Freeway
• Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110
• FIVE (5) separate parcels which provide flexibility on investment and exit strategy
• Attractive garden style apartments with excellent curb appeal
• Good unit mix with good distribution of 2bedroom, 1bedroom and Studio units
• Amenities: gated parking, secured entrance, electronic RFI unit locks, two tranquil courtyards equipped with new barbeques and fire pits
• Separately metered for electricity and gas; some units have spacious private patio/balcony

LIST OF CAPITAL IMPROVEMENTS

• New electrical finishes and subpanels
• New plumbing throughout
• Soft story retrofit completed
• New drain lines
• New drought tolerant landscaping on efficient buried soak system set to timers
• New asphalt driveway surface
• New exterior façade, siding and paint
• New secured entrance and intercom system
• New signage
• Newly painted and upgraded steel guard rails
• New stainless-steel appliances in all units
• New planters in the common area
• New security system and cameras in common area
• New exterior furniture, tables and shade in common area
• New seismic gas shutoff valves
• Designated and secure bike parking and storage area

251 N Oakland Ave, Pasadena, CA (14 units)

Turn Key, Fully Upgraded, 100% Occupied Luxury apartments near downtown Pasadena

ZERO VACANCY apartments for next 2-3/4 years (w/ 3 x 1-year options)

Over $6million replacement spent, COMPLETELY UPGRADED! SOFT Story retrofit completed

265 N Oakland Ave, Pasadena, CA (19 units)

Turn Key, Fully Upgraded, 100% Occupied Luxury apartments near downtown Pasadena

ZERO VACANCY apartments for next 2-3/4 years (w/ 3 x 1-year options)

Over $6million replacement spent, SOFT Story retrofit completed

275 N Oakland Ave, Pasadena, CA (19 units)

Turn Key, Fully Upgraded, 100% Occupied Luxury apartments near downtown Pasadena

ZERO VACANCY apartments for next 2-3/4 years (w/ 3 x 1-year options)

Over $6million replacement spent, SOFT Story retrofit completed

285 N Oakland Ave, Pasadena, CA (22 units)

Turn Key, Fully Upgraded, 100% Occupied Luxury apartments near downtown Pasadena

ZERO VACANCY apartments for next 2 years

Over $6million replacement spent, SOFT Story retrofit completed

303 N Oakland Ave, Pasadena, CA (13 units)

Turn Key, Fully Upgraded, 100% Occupied Luxury apartments near downtown Pasadena

ZERO VACANCY apartments for next 2-3/4 years (w/ 3 x 1-year options)

Over $6million replacement spent, SOFT Story retrofit completed

SOUTH EL MOLINO APARTMENTS | 529-541 S El Molino Ave., Pasadena, CA

2 x 10-unit Value Add in Pasadena Playhouse District

Large Units, Large R3 Zoned Lot, ZERO Soft Story

One block from SOUTH LAKE AVE Shopping District, south of 210 freeway

INVESTMENT HIGHLIGHTS

• Pasadena Playhouse District Location! Walking distance to Old Town Pasadena, and Lake Ave Business District!
• NON RENT CONTROL, NO SOFT-STORY RETROFIT required, NO ON-SITE Manager required (2 parcels x 10-units each)
• Prime value-add opportunity with rental upside; Proforma CAP Rate is close to 5%
• Excellent location within the Playhouse District in Pasadena
• Excellent demographics with ±$115,000 average household income within a 1-mile radius!
• Highly desirable area South of 210 FWY with EXTREMELY LIMITED INVENTORY
• Excellent access to 210, 134, and 110 freeways; superb access to downtown Los Angeles via FWY 110

PROPERTY HIGHLIGHTS

• Two parcels containing 10-units each; No on-site manager is required!
• 529 S El Molino: single-story bungalow style apartment with beautiful center courtyard and large units with 1bedroom as large as ±1036 sqft!
• Many units in 529 S El Molino are large with refinished hardwood floor, high ceiling (10.3ft), individual water heater, laundry hookups, tiled kitchen, designer lighting, walk-in closets, plenty of storage cabinets, etc.
• 541 S El Molino: Clean building with excellent curb appeal, non-upgraded units which provides significant upside potential
• Attractive unit mix with good distribution of 2-bedroom, 1-bedroom, and Studio units
• A large combined lot size of 30,367 SQFT lot with R3 zone which could be redevelop into for-sale housing/condominiums
• Carport and open space parking in the back; no soft-story retrofit required
• Separately metered for electricity and gas with recent capital improvements