25
See all 25 photos
$2,980,000
Est. payment /mo
9,905 Sqft Lot
Price Dropped by $285K
425 N Raymond AVE Pasadena, CA 91103
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UPDATED:
01/17/2025 09:18 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR24210715
Originating Board California Regional MLS
Year Built 1947
Lot Size 9,905 Sqft
Property Description
a 7-unit Turnkey Garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. 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 ±5.56% CAP Rate and low ±12.67x 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
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Rooms
Kitchen Dishwasher, Microwave, Oven Range - Gas, Refrigerator
Interior
Heating Other, Wall Furnace
Cooling Other, Window / Wall Unit
Laundry Other, Washer, Washer/Dryer - Owned, Dryer
Exterior
Parking Features Other
Garage Spaces 9.0
Pool 31, None
Roof Type Flat / Low Pitch
Building
Lot Description Grade - Level
Story Three or More Stories
Foundation Raised
Water District - Public
Others
Tax ID 5725003031
Special Listing Condition Not Applicable
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Listed by Han Chen • Growth Investment Group Pasade