Turnkey, Design Centric Mid-Century Modern 93-unit Apartment in Playhouse Village. Class A Location, Completely Renovated, almost brand-new MEP. All Units fully upgraded, Overparked w/ 173 parking, RUBS in Place. Below replacement cost for an Asset of this quality and location.
THE THISTLE – 262 N Los Robles Ave, a Design Centric 93-unit Mid Century modern luxury apartment investment opportunity located in the highly desirable City of Pasadena, CA. The property is located within Pasadena Village District, an eclectic cosmopolitan community rich in history and architecture. Because of this superb location, it has a Walk Score 89 out of 100, demonstrating “walker’s paradise” location to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. The property has been completely upgraded from top to bottom between 2018-2020 and provides a turn-key investment offering. It has a superb location south of FWY 210, across the street from Kaiser Permanente Pasadena, and several lots away from The Westin Pasadena. Tenants enjoy walking distance to Paseo Colorado, Pasadena City Hall & Library, Old Town Pasadena, and almost all amenities City of Pasadena has to offer.
The property is a three-story garden style apartment community with an expansive center courtyard on two levels of subterranean parking. The community offers excellent amenities such as Leasing Office, On-site manager, fitness center, BBQ/picnic area, fire pit, controlled access, security cameras, courtyard, dog wash, subterranean parking, secured bike storage, storage units, secured package room with parcel pending lockers, complete convenient towel service, boutique catering kitchen appliances, elevator, and laundry room. The current ownership have completely upgraded the community from top to bottom in 2018-2019 and replaced all the systems which includes: new roof, new mechanical system, new electrical, new plumbing & sewer system, new elevator, new landscaping, new security camera system, new parking gate, new entry system, and others (buyer to verify during inspection), making this property a truly turnkey investment.
The property offers an attractive unit mix with seven (7) 2 bedroom+1 bathroom, fifty-five (55) large 1 bedroom+1 bathroom, seven (7) 1 bedroom+1 bathroom, sixteen (16) studio, and eight (8) small studio/micro units. All the units have been completely upgraded with tastefully design upgrades.
