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Listed by Han Chen • Growth Investment Group Pasade
$2,850,000
Est. payment /mo
5,001 SqFt
Active
425 N Raymond Avenue Pasadena, CA 91103
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Kevin & Tawnya Erickson
Erickson Realty Group - Corcoran Icon Properties
ericksonteam@gmail.com +1(925) 550-9523UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,001 sqft
Price per Sqft $569
MLS Listing ID CRAR25093075
HOA Y/N No
Year Built 1947
Lot Size 9,905 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
RAYMOND SEVEN - 425 N Raymond Ave, a 7-unit Turnkey Value-add Garden style apartment investment opportunity located in the highly desirable City of Pasadena - Great location only 2 blocks north of Old Town Pasadena! 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 ±5.86% CAP Rate and low ±12.12x GRM, this offering provides an excellent Cash-on-cash return 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
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Wood
Fireplace No
Appliance Dryer
Laundry Dryer, Washer, Other
Exterior
View City Lights
Building
Lot Description Level, Other
Water Public
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