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Listed by Han Chen • Growth Investment Group Pasade
$ 2,850,000
Est. payment /mo
Price Dropped by $130K
425 N Raymond AVE Pasadena, CA 91103
9,905 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR25093075
Year Built 1947
Lot Size 9,905 Sqft
Source California Regional MLS
Property Description
RAYMOND SEVEN - 425 N Raymond Ave, a 7-unit Turnkey Value-add 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 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 minute
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Rooms
Kitchen Dishwasher, Garbage Disposal, Hood Over Range, Oven Range - Gas, Refrigerator
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry Gas Hookup, 30, Washer, Washer/Dryer - Owned, Dryer
Exterior
Parking Features Assigned Spaces, Other
Garage Spaces 9.0
Pool 31, None
View City Lights
Roof Type Flat / Low Pitch
Building
Lot Description Grade - Level
Foundation Raised
Water District - Public
Others
Tax ID 5725003031
Special Listing Condition Not Applicable
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