Property Details
About this Property
RAYMOND SEVEN, a 7-unit Turnkey 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 5.32% CAP Rate and low 13.88x GRM, this offering provides an excellent Cash-on-cash return (over 5%) 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 minutes away from most of the major attractions in the City of Pasadena including
MLS Listing Information
MLS #
CRAR24210715
MLS Source
California Regional MLS
Days on Site
39
Interior Features
Appliances
Dishwasher, Microwave, Other, Oven Range - Gas, Dryer, Washer
Cooling
Other, Window/Wall Unit
Heating
Other, Wall Furnace
Exterior Features
Roof
Flat
Foundation
Raised
Parking, School, and Other Information
Garage/Parking
Other, Garage: 0 Car(s)
HOA Fee
$0
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 7 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
425 N Raymond Ave is a Residential Income in Pasadena, CA 91103. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $3,265,000 and was built in 1947. This address can also be written as 425 N Raymond Ave, Pasadena, CA 91103.
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This listing information is up-to-date as of October 10, 2024. For the most current information, please contact Han Chen
