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Fair Oaks Apartments, a 21-unit complex in Pasadena, has traded hands between two private investors. The value-add deal provided significant upside for the buyer, with rents 20% below market value and no rent control restrictions.

Located at 1730 N Fair Oaks Ave, Fair Oaks Apartments was built in 1963 and features mostly one-bedroom and one-bathroom units and two two-bedroom/one-bathroom units. The property traded for $4.4 million.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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