425 N Raymond Ave Pasadena, CA 91103
Fully renovated 7-unit apartment building near Old Town Pasadena.
Type:Multifamily
Property size:
5,001 SFLot size:
0.23 Acres- Added:
- Oct 10, 2024
- Days on Market:
- 558
- Last Refresh:
- Mar 17 at 1:13 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
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
Overview
Turnkey Pasadena Apartment Investment Opportunity
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
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Pasadena
- County
- Los Angeles
- State
- California
- Longitude
- -118.1493154
- Latitude
- 34.1531973
Nearby Similar for Sale
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.
