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    Turnkey Pasadena Apartment Investment Opportunity Title is generated by Realmo AI

    425 N Raymond Ave, Pasadena, CA 91103

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    Fully renovated 7-unit apartment building near Old Town Pasadena.

    Type:Multifamily
    Property size:
    5,001 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $569/SF
    Added:
    Oct 10, 2024
    Days on Market:
    604
    Last Refresh:
    May 12 at 10:02 pm

    Property Features for 425 N Raymond Ave

    General Information

    Standard status
    Active
    Size
    5,001 SF
    Lot size
    0.23 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1947

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    Listing Contact
    Handoko Chen

    Listing agent Handoko Chen License #CA 01749321

    Listing office Growth Investment Group

    Listing date Oct 10, 2024

    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 Growth Investment Group

    HighLights

    • Turnkey 7‑unit apartment building with recent full renovation and full occupancy, providing immediate cash flow.
    • Attractive investment opportunity with a close to 6% CAP rate and excellent cash‑on‑cash return.
    • Prime location: 2 blocks from Old Town Pasadena, near major attractions, and adjacent to a future large redevelopment project on Fair Oaks Ave.
    • Upgraded units with in‑unit laundry, stainless steel appliances, new flooring, lighting, kitchens, and bathrooms.
    • Desirable unit mix: includes four 2‑bed/1‑bath units, a penthouse 1‑bed/1‑bath unit with a view, and two 1‑bed/1‑bath units.
    • Excellent access to FWY 210 and FWY 134, providing easy commutes to downtown Los Angeles, Burbank, and Glendale.

    Overview

    Located in Pasadena, CA, the RAYMOND SEVEN - 425 N Raymond Ave is a 7-unit garden-style apartment building. The property, built in 1947, features a building size of approximately 5,001 square feet on a 9,902 square foot lot. The unit mix includes four 2-bedroom, 1-bath units, one penthouse 1-bedroom, 1-bath unit, and two 1-bedroom, 1-bath units. Each unit has been fully upgraded with new flooring, lighting, kitchens, and bathrooms, and includes in-unit laundry machines and stainless-steel kitchen appliances. Two of the second-floor units have private balconies, and the penthouse unit, occupying the entire 3rd floor, has a private balcony with views of the Pasadena area. Several units feature large bedrooms and kitchens, with some units having updated vinyl wood plank flooring. All units have smooth ceilings. The property is separately metered for electricity and serviced by a master water heater. Parking is provided by an open space parking in front. The building has been fully upgraded, including replacements of the mechanical, electrical, plumbing, and roof systems. Additional upgrades include new railings, stucco changes, stairway and walkway repairs, exterior painting, landscaping, new windows, and structural and foundation support. Situated two blocks north of Old Town Pasadena and a block from Fair Oaks Ave, the property is within walking distance of shopping and amenities. It is also minutes from the Rose Bowl area, The Paseo on Colorado, museums, theaters, entertainment venues, groceries, cafes, and shops. The property has access to FWY 210 and FWY 134, providing an easy commute to employment centers in downtown Los Angeles and adjacent cities of Burbank and Glendale via 134 Freeway. It is also minutes away from FWY 110, which connects to Downtown Los Angeles. The property is located in a quiet residential area surrounded by single-family residences across the street and duplexes/fourplexes on each side.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Los Angeles
    State
    California
    Longitude
    -118.1493154
    Latitude
    34.1531973

    FAQs

    What type of property is this?
    Apartment building - Fully renovated 7-unit apartment building near Old Town Pasadena.
    Where is this apartment building located?
    The property is located at 425 N Raymond Ave Pasadena, CA.
    What is the asking price?
    The asking price for this property is $2,850,000.
    What are key features of this property?
    This property features: Turnkey 7‑unit apartment building with recent full renovation and full occupancy, providing immediate cash flow.; Attractive investment opportunity with a close to 6% CAP rate and excellent cash‑on‑cash return.; Prime location: **2 blocks from Old Town Pasadena**, near major attractions, and adjacent to a future large redevelopment project on Fair Oaks Ave.
    More about this property
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