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$ 2,850,000
Est. payment /mo
Active
425 N Raymond Avenue Pasadena, CA 91103
4 Beds
3 Baths
UPDATED:
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