221 North Raymond Avenue

Pasadena, CA 91103

$5,120,000
Price
3
Beds
15
Baths
8,568 Sq. Ft.
$598 / Sq. Ft.
8,568
Sq. Ft.
$598
per Sq. Ft.

Description

HIGHLIGHTS: The property is protected from auto-reassessment after sale under the Mills Act. Property tax are currently set at just $22,325 per year / Estimated saving under the Mills Act are $30,000 annually. In essence adding the income of an additional one-bedroom unit, with no expenses. / Attractive in-place offering actual CAP Rate of 4.63% With a ProForma CAP Rate of 5.27% / 2017 Historic Preservation Award / Three (3) two-story, two-bedroom, two-and-one half bathroom units (2B2.5B) + bonus...HIGHLIGHTS: The property is protected from auto-reassessment after sale under the Mills Act. Property tax are currently set at just $22,325 per year / Estimated saving under the Mills Act are $30,000 annually. In essence adding the income of an additional one-bedroom unit, with no expenses. / Attractive in-place offering actual CAP Rate of 4.63% With a ProForma CAP Rate of 5.27% / 2017 Historic Preservation Award / Three (3) two-story, two-bedroom, two-and-one half bathroom units (2B2.5B) + bonus room in master bedroom. / Tenants have access to offsite parking at the Marriott, with several additional local options available for more affordable solutions / Individually metered for all utilities. Water submetering is in place. Currently master-metered for water, 9 individual water meters in place. ) (MILLS ACT PROTECTED PROPERTY)

The Historic Fannie Bonham Row House at 221 N Raymond Ave, Pasadena, CA, is a meticulously restored property and the only remaining example of rowhouse construction in the city! The property features a desirable unit mix, including six (6) single-story, 1-bedroom, 1-bathroom units, and three (3) townhouse-style, 2-bedroom, 2.5-bathroom units. Each townhouse unit also includes a bonus room in the master bedroom, offering flexible space ideal for a nursery, home office, or additional bedroom. This historic building underwent an extensive restoration to preserve its original architectural details while modernizing essential key building systems. Jackson Milling & Lumber, Inc. contributed significantly to this effort, utilizing custom-milled Douglas fir to replace wood
siding & replicate intricate crown moldings true to the materials used in the original construction. Additionally, American Window Restoration repaired or replaced all windows to maintain historical accuracy. This dedication to preserving the building's heritage earned it a Historic Preservation Award from the City of Pasadena and recognition from then-Senator Anthony Portantino.
  1. Listed by ALBERT LE • DRE #01468313 • Brokerage DRE #01923766 • LE INVESTMENT GROUP • 909-256-7889

Property Details for 221 North Raymond Avenue

Architectural Style
See Remarks
Parking Spaces Total
0
Private Pool
No
Total Units
9.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8568
Assessor Parcel Number
5723-001-019
LISTING UPDATED: 11/18/2024 09:35 AM

Property Details for 221 North Raymond Avenue

StatusActive
MLS #IV24236416
Days on Market2
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1898
CountyLos Angeles County

Building Information for 221 North Raymond Avenue

Building/Complex221 N Raymond AveFloor-Stories2Residences-Pet Policy-Year Built1898Building Size-

Property Information for 221 North Raymond Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $344,340
  • Gross Scheduled Income: $344,340
  • Net Operating Income: $270,022
  • Cap Rate: 5.27
Expense Details
  • Operating Expense: $52,463
  • New Taxes Expense: $22,325
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $6,000
  • Professional Management Expense: $0
  • Trash Expense: $5,000
  • Water Sewer Expense: $5,000
  • Total Expenses: $74,788
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: ex
  • Tax Census Tract: 4619.02
  • CFD/Mello-Roos Fee: $2,492
  • Tax Lot: 7
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Storm Drains, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: 1
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 9
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Gated, Offsite
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Gated, Off Site
Unit Information
Unit 1
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,795
  • Unit Type Total Rent: $16,770
  • Unit Type Pro Forma: 2795
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,975
  • Unit Type Total Rent: $11,925
  • Unit Type Pro Forma: 3975
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 10

Property History for 221 North Raymond Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 221 North Raymond Avenue

Taxable ValueLand$1,267,000Additions$545,500Total$1,812,500
Tax Record2024$22,356 ($1,863 / month)
Home Facts
Total Finished SqFt8,612 SqFtAbove Grade Finished SqFt8,612 SqFtLot Size7,405 SqFtStyleMulti-Family Res (5+ Units)Year Built1898ZoningPSC-CountyLOS ANGELESAPN5723-001-019

Schools near 221 North Raymond Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 6 to 12
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
McKinley School
PublicK to 8

Blair High School
Public6 to 12

Rose City High (Continuation) School
Public9 to 12

Odyssey Charter School - South
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

221 North Raymond Avenue is a multi-family home for sale in Pasadena, CA 91103. This property was listed for sale on November 18, 2024 by LE INVESTMENT GROUP, it's currently listed at $5,120,000. It has been on the market for a total of 2 days and was last sold on April 5, 2018. This listing's school district is Pasadena Unified School District. Nearby schools include McKinley School, Blair High School and Rose City High (Continuation) School. 221 North Raymond Avenue is a 3-bed, 15-bath, 8,568 sqft multi-family home built in 1898.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of LE INVESTMENT GROUP, ALBERT LE, DRE #01468313

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.