425 N Raymond Avenue, Pasadena, CA 91103 - MLS#AR25093075

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,850,000

Est. payment | -/mo

4 Beds

Save Virtual Tour

$ 2,850,000

Est. payment | -/mo

Save Virtual Tour

4 Beds

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25093075

Bedrooms 4

Property Sub-Type Res Income 2-4 Units

Property Description

Prime 7-unit near Old Town Pasadena, Positive Leverage Deal at 5.86% CAP, Penthouse can be delivered vacant, Adjacent to a future Large Redevelopment Project on Fair Oaks Ave. 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. 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

Location

State CA

County Los Angeles

Zoning Assessor

Direction 210 FWY exit Marengo Ave (Fair Oaks), go north from Marengo Ave and take left on Maple St and make right on Raymond Ave (1 block

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 5725003031

Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10460

Listed by Han Chen Growth Investment Group Pasade

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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425 N Raymond Avenue Pasadena, CA 91103