Active

425 N Raymond Avenue

Pasadena CA, 91103

$2,980,000


Active

4 Beds

Multi-family

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 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 sou

AR24210715

MLS ID

October 10, 2024

Listed

January 18, 2025

Updated

Map

425 N Raymond Avenue
Pasadena CA, 91103

Interior Features

Total Stories

3


Bedrooms

4


Appliances

Range/Oven, Refrigerator, Washer


Fireplace

No


Cooling

Yes


Cooling Description

Wall/Window Unit(s)


Heating

No

Exterior/Building Features

Lot Size

0.23 Acres

Other Property Details

Days on Market

100


Garage

No


View

No


County

Los Angeles


Pool

No


Pool Features

None


Zoning

Assessor

Listing History

Date

Event

Price

1/15/2025

Price change

$2,980,000

-9%

Listed by Growth Investment Group Pasade, Han Chen,
Listing Contact: 626-224-2495 

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