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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Data last updated 2:08 PM UTC, 1/18/2025