Pasadena, CA 91103,425 N Raymond
Pasadena, CA 91103,425 N Raymond
Pasadena, CA 91103,425 N Raymond
Pasadena, CA 91103,425 N Raymond
Pasadena, CA 91103,425 N Raymond
Pasadena, CA 91103,425 N Raymond
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Christian Task

Christian Task

+1(714) 910-8642
$ 2,850,000
Est. payment | /mo

9,905 Sqft Lot

Save
$ 2,850,000
Est. payment | /mo
Save

9,905 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25253823

HOA Y/N No

Year Built 1947

Lot Size 9,905 Sqft

Property Sub-Type Apartment

Property Description

Prime 7-unit near Old Town Pasadena, Positive Leverage Deal Close to 6% CAP, Adjacent to a future Large Redevelopment Project on Fair Oaks Ave. Seller May Carry. 425 N Raymond Ave, a 7-unit Turnkey Value-add 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 Over 6% CAP Rate and low ±12.12x GRM (buyer to verify), this offering provides an excellent Cash-on-cash return on a full Turnkey building where the 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 sound barrier and privacy to tenants. It offers an attractive unit mix of four (4) x 2bed+1bath, 1 x Penthouse 1bed+1bath, and two (2) x 1bed+1bath units. The Penthouse unit occupies the entire 3rd floor with excellent view of Pasadena area.

Each unit has been fully upgraded from top to bottom with brand-new everything (flooring, lighting, kitchen, and bathroom). It has in-unit laundry machines and stainless-steel kitchen appliances. Two of the 2nd floor units have private balcony, and the Penthouse has private balcony with views.

Location

State CA

County Los Angeles

Area 645 - Pasadena (Nw)

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Appliance Dryer, Washer

Laundry Washer Hookup, Gas Dryer Hookup

Exterior

Parking Features Assigned, Paved

Fence None

Pool None

Community Features Suburban, Valley

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Flat

Total Parking Spaces 9

Private Pool No

Building

Lot Description Lawn, Landscaped, Level, Near Public Transit, Rectangular Lot, Street Level

Faces East

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Mid-Century Modern

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5725003031

Energy Description 1200.0

Acceptable Financing Cash, Cash to New Loan, Owner May Carry

Listing Terms Cash, Cash to New Loan, Owner May Carry

Special Listing Condition Standard

CRMLS – RECore
Listed by Handoko Chen Growth Investment Group Pasade han.chen@growthinvestmentgroup.com
SCHOOLSPROPERTIES
Elementary Schools 20
  • 10

    Arroyo Vista Elementary School

    Public | KG - 5

  • 10

    Marengo Elementary School

    Public | KG - 5

  • 10

    Valentine Elementary School

    Public | KG - 5

  • 7

    Aveson School of Leaders

    Public | KG - 5

  • 7

    Hamilton Elementary School

    Public | PK - 5

  • 6

    Rockdale Visual & Performing Arts Magnet

    Public | KG - 6

  • 6

    Yorkdale Elementary

    Public | KG - 5

  • 6

    San Rafael Elementary School

    Public | KG - 5

  • 6

    Coolidge Elementary School

    Public | KG - 5

  • 6

    Daniel Webster Elementary School

    Public | PK - 5

  • 5

    Garvanza Elementary

    Public | KG - 5

  • 5

    San Pascual STEAM Magnet

    Public | KG - 5

  • 5

    Washington Elementary School

    Public | PK - 5

  • 5

    Longfellow Elementary School

    Public | PK - 5

  • 4

    Franklin Elementary School

    Public | PK - 5

  • 4

    Roosevelt Elementary School

    Public | PK - 5

  • 3

    Jackson STEM Magnet

    Public | PK - 5

  • 3

    Cleveland Elementary School

    Public | PK - 5

  • 3

    McKinley School

    Public | KG - 8

  • 3

    Jefferson Elementary School

    Public | PK - 5

Middle Schools 16
  • 10

    South Pasadena Middle School

    Public | 6 - 8

  • 9

    Huntington Middle School

    Public | 6 - 8

  • 8

    Marshall Fundamental

    Public | 6 - 12

  • 5

    Luther Burbank Middle School

    Public | 6 - 8

  • 5

    Aveson Global Leadership Academy

    Public | 6 - 12

  • 4

    Blair High School

    Public | 6 - 12

  • 2

    Charles W. Eliot Arts Magnet Academy

    Public | 6 - 8

  • 1

    Washington STEAM Multilingual Academy

    Public | 6 - 8

  • 0

    Optimist Charter

    Public | 7 - 12

  • 0

    Puc California Academy for Liberal Studies

    Public | 6 - 8

  • 0

    Fusion Academy Pasadena

    Private | 7 - 12

  • 0

    Flintridge Preparatory School

    Private | 7 - 12

  • 0

    The Hillside School & Learning Center

    Private | 7 - 12

  • 0

    Southwestern Academy

    Private | 6 - 12

  • 0

    Excelsior School

    Private | 8 - 12

  • 0

    The Peace & Justice Academy

    Private | 6 - 12

High Schools 10
  • 10

    La Canada High School

    Public | 9 - 12

  • 10

    South Pasadena High School

    Public | 9 - 12

  • 5

    Puc Ca Academy for Liberal Studies Early College H

    Public | 9 - 12

  • 3

    John Muir High School

    Public | 9 - 12

  • 0

    Optimist High School

    Private | 9 - 12

  • 0

    Flintridge Sacred Heart Academy

    Private | 9 - 12

  • 0

    St Francis High School

    Private | 9 - 12

  • 0

    Mayfield Senior School

    Private | 9 - 12

  • 0

    Maranatha High School

    Private | 9 - 12

  • 0

    Rose City High (Continuation)

    Public | 9 - 12

School and business data provided by Attom Data.
Christian Task

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 910-8642

ctaskre@gmail.com

P.O. Box 663, Sunset Beach, California, 90742, USA

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425 N Raymond