Pasadena, CA 91103,425 N Raymond Avenue
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Pasadena, CA 91103,425 N Raymond Avenue
Pasadena, CA 91103,425 N Raymond Avenue
Pasadena, CA 91103,425 N Raymond Avenue
Pasadena, CA 91103,425 N Raymond Avenue
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Listed by Han Chen • Growth Investment Group Pasade
$ 3,265,000
Est. payment /mo
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Active

425 N Raymond Avenue Pasadena, CA 91103

5,001 SqFt


UPDATED:

10/11/2024 05:26 AM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 5,001 sqft

Price per Sqft $652

MLS Listing ID CRAR24210715

HOA Y/N No

Originating Board Datashare California Regional

Year Built 1947

Lot Size 9,905 Sqft

Property Description

RAYMOND SEVEN, 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 5.32% CAP Rate and low 13.88x GRM, this offering provides an excellent Cash-on-cash return (over 5%) 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 Bow

Location

State CA

County Los Angeles

Interior

Heating Wall Furnace, Other

Cooling Wall/Window Unit(s), Other

Flooring Vinyl, Wood

Fireplace No

Appliance Dryer

Laundry Dryer, Washer, Inside

Building

Lot Description Level, Other

Water Public


Bay East AOR and Contra Costa AOR

Ikenna Ezeude

Broker Associate | License ID: 01777165 | NMLS ID: 877333

+1(510) 928-3541

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425 N Raymond Avenue