Old Town Pasadena Multifamily
155 N Raymond Ave, Pasadena, CA 91103
18 units, 1 commercial space in prime location.
Type:Multifamily
Property size:
21,982 SFLot size:
0.21 AcresPrice / SF:
$536/SF- Added:
- Dec 6, 2023
- Days on Market:
- 910
- Last Refresh:
- May 12 at 10:00 pm
Property Features for 155 N Raymond Ave
General Information
- Standard status
- Active
- Size
- 21,982 SF
- Lot size
- 0.21 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 2002
Listing agent Kevin Kwan License #CA
Listing office Realiv
Listing date Dec 6, 2023
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Realiv
HighLights
- Assumable loan at a low rate of 3.75% until 10/2026 or seller financing available with reasonable terms.
- Prime location in the heart of Old Town Pasadena, steps away from eateries, bars, and shops, and across the street from Memorial Park and the Metro Gold Line Station.
- Well‑maintained 18‑unit apartment complex with a commercial space, built in 2002, showing pride of ownership.
- Spacious units (approximately 900 sf) featuring 2 bedrooms, 2 bathrooms, and in‑unit laundry.
- Stable, long‑term tenants in place with upside potential due to below‑market rents and a 4.5% Pro‑Forma CAP rate.
- Convenient access to major colleges, employers, and Downtown Los Angeles.
Overview
This 18-unit apartment complex includes one commercial space with approximately 2,900 square feet of rentable area. Constructed in 2002, the property is situated in Old Town Pasadena on a 9,028-square-foot lot. Each of the 18 residential units features 2 bedrooms and 2 bathrooms, with an approximate size of 900 square feet, and includes its own laundry unit. The complex provides 29 parking spaces, including surface and subterranean options, with 2 designated as handicapped spaces. The property is located 11.3 miles from Downtown Los Angeles and within 2 miles of Art Center College of Design, California Institute of Technology, and Pasadena City College. It is also located 0.3 miles from the Parsons Corporation, 0.5 miles to Pasadena City Hall, and approximately 4.6 miles to JPL. Pasadena Memorial Park and the Memorial Park Metro Gold Line Station are located across the street. A retail lease was newly signed on 11/1/2024 for a 5-year term with one 5-year option and 3% yearly rental increases. The property has very stable and long-term tenants in place.
Property Profile
Location Intelligence
Current Use by Public Records
Public Art Raymond ...
Cultural Landmark
Everson Royce Wine ...
Specialty Food Shop
Location Insight
- Map
- Local Demand
- City
- Pasadena
- County
- Los Angeles
- State
- California
- Longitude
- -118.1493373
- Latitude
- 34.1485699
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 18 units, 1 commercial space in prime location.
Where is this apartment building located?
The property is located at 155 N Raymond Ave Pasadena, CA.
What is the asking price?
The asking price for this property is $11,800,000.
What are key features of this property?
This property features: Assumable loan at a low rate of 3.75% until 10/2026 or seller financing available with reasonable terms.; Prime location in the heart of Old Town Pasadena, steps away from eateries, bars, and shops, and across the street from Memorial Park and the Metro Gold Line Station.; Well‑maintained 18‑unit apartment complex with a commercial space, built in 2002, showing pride of ownership.
