REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Wed

May

Thu

May

Fri

May

Todd Kaufman

todd@kaufmanproperties.com +1(805) 206-4313

Listed by Han Chen • Growth Investment Group Pasade

$ 2,850,000

Est. payment -/mo

Save

Price Dropped by $130K

425 North Raymond Avenue Pasadena, CA 91103

5,001 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 5,001 sqft

Price per Sqft $569

MLS Listing ID AR-25093075

Style Mid Century Modern

Year Built 1947

Lot Size 9,905 Sqft

Property Sub-Type Apartment

Property Description

RAYMOND SEVEN - 425 N Raymond Ave, a 7-unit Turnkey Value-add Garden style apartment investment opportunity located in the highly desirable City of Pasadena - Great location only 2 blocks north of Old Town Pasadena! With full renovation recently completed and full occupancy with market rents, this offering provides a highly cash flowing building without doing any work. Offered at a very attractive ?5.86% CAP Rate and low ?12.12x GRM, this offering provides an excellent Cash-on-cash return on a full Turnkey building where owner does not have to worry about renovating units, dealing with low-rent tenants, or any deferred maintenance. Current owner has spent enormous time and capital in fully upgrading the building including replacing the mechanical, electrical, plumbing, and roof. They have upgraded the building with new railings, stucco changes, stairway & walkway repair, exterior painting, landscaping, new windows, structural and foundation support, and all units upgraded. The building is fully occupied with market rate tenants and providing excellent rental income close to market. The property is in a quiet and mature residential area surrounded by SFR houses across the street and duplex/fourplex on each side. It is only 2 blocks north of the Old Town Pasadena and minutes away from most of the major attractions in the City of Pasadena including Rose Bowl area. FWY 210 and FWY 134 is less than a minute away from the property. The property was built in 1947, has ?5,001 SF building size and is situated on a ?9,902 SF lot size. It has a superb curb appeal with a large lawn and parking area in the front with the main building sits in the back part of the lot - providing extra sound barrier and privacy to tenants. It offers an attractive unit mix of four (4) x 2bed+1bath, 1 x Penthouse 1bed+1bath, and two (2) x 1bed+1bath units. The Penthouse unit occupies the entire 3rd floor with excellent view of Pasadena area. Each unit has been fully upgraded from top to bottom with brand-new everything (flooring, lighting, kitchen, and bathroom). It has in-unit laundry machines and stainless-steel kitchen appliances. Two of the 2nd floor units have private balcony, and the Penthouse has private balcony with views. Several units have large bedrooms and/or kitchens, and some units have had some upgrades which include updated vinyl wood plank/flooring. All units have smooth ceilings. ADU Upside on large lot!

Location

State CA

County Los Angeles

Area 647 - Pasadena Sw

Zoning PSR1

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Laminate, Wood

Fireplaces Type None

Laundry Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included

Exterior

Parking Features Asphalt, Assigned, Driveway

Pool None

Community Features Suburban, Valley

Utilities Available Sewer Connected, Water Connected, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available

View Y/N Yes

View City Lights

Building

Lot Description Landscaped, Lawn, Level, Level with Street, Lot 6500-9999, Near Public Transit, Park Nearby, Rectangular Lot

Sewer Public Sewer

Todd Kaufman

Agent | License ID: 01893578

+1(805) 206-4313

Todd Kaufman

425 North Raymond Avenue Pasadena, CA 91103

Key Details

Location

Interior

Exterior

Building

GET MORE INFORMATION

Go tour this home

425 North Raymond Avenue