425 North Raymond Avenue

Pasadena, CA 91103

$3,265,000
Price
4
Beds
7
Baths
5,001 Sq. Ft.
$653 / Sq. Ft.
5,001
Sq. Ft.
$653
per Sq. Ft.

Description

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,...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 Rose Bowl area. FWY 210 and FWY 134 is less than a minute away from the property. The property was built in 1947, has ±5,001 SF building size and is situated on a ±9,902 SF lot size. It has a superb curb appeal with a large lawn and parking area in the front with the main building sits in the back part of the lot – providing extra sound barrier and privacy to tenants. It offers an attractive unit mix of four (4) x 2bed+1bath, 1 x Penthouse 1bed+1bath, and two (2) x 1bed+1bath units. The Penthouse unit occupies the entire 3rd floor with excellent view of Pasadena area. Each unit has been fully upgraded from top to bottom with brand-new everything (flooring, lighting, kitchen, and bathroom). It has in-unit laundry machines and stainless-steel kitchen appliances. Two of the 2nd floor units have private balcony, and the Penthouse has private balcony with views. Several units have large bedrooms and/or kitchens, and some units have had some upgrades which include 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.
  1. Listed by Han Chen • DRE #01749321 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-224-2495

Property Details for 425 North Raymond Avenue

Architectural Style
Mid Century Modern
Parking Spaces Total
9
Private Pool
No
Cooling Type
Wall/Window
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5001
LISTING UPDATED: 10/10/2024 06:36 AM

Property Details for 425 North Raymond Avenue

StatusActive
MLS #AR24210715
Days on Market53
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1947
CountyLos Angeles County

Building Information for 425 North Raymond Avenue

Building/Complex425 N Raymond AveFloor-Stories3Residences-Pet Policy-Year Built1947Building Size-

Property Information for 425 North Raymond Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Parking Fee
Income / Expense / Tax Details
Income Details
  • Gross Income: $235,200
  • Gross Scheduled Income: $235,200
  • Vacancy Allowance Rate: 2
  • Gross Operating Income: $230,496
  • Net Operating Income: $173,796
  • Other Income Description: Parking
  • Other Income 1: $2,400
  • Gross Multiplier: 13.88
  • Cap Rate: 5.32
  • Current Financing: Conventional
Expense Details
  • Operating Expense: $56,700
  • New Taxes Expense: $35,580
  • Gardener Expense: $1,200
  • Fuel Expense: $2,000
  • Pool Expense: $0
  • Insurance Expense: $8,563
  • Professional Management Expense: $0
  • Trash Expense: $2,000
  • Water Sewer Expense: $2,400
  • Total Expenses: $56,700
Tax / Assessment Info
  • Tax Block: D
  • Tax Tract Number: 0
  • Tax Census Tract: 4619.01
  • CFD/Mello-Roos Fee: $1,682
  • Tax Lot: 15
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Suburban, Valley
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Gas Range, Microwave, Refrigerator
  • Equipment: Dishwasher, Dryer, Dryer Included, Inside, Microwave, Refrigerator, Washer, Washer Included
  • Interior Features: Balcony
  • Laundry: Yes
  • Laundry Features: Dryer Included, Inside, Washer Included
  • Laundry Equipment Own Lease: Own
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: High Efficiency, Wall/Window Unit(s)
  • Heating Type: ENERGY STAR Qualified Equipment, High Efficiency, Wall
  • Heating: ENERGY STAR Qualified Equipment, High Efficiency, Wall Furnace
  • Flooring: Vinyl, Wood
Exterior Features
  • Roof: Flat
  • Entry Location: 1
  • Foundation Details: Raised
  • Property Condition: Turnkey, Updated/Remodeled
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Landscaped, Lawn, Level with Street, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit
  • Direction Faces: East
  • Number Of Units: 7
  • Land Lease: Yes
  • Land Lease Amount: $0
  • Land Lease Type: Lease
  • Topography: Level
  • Road Surface Type: Paved
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Driveway
  • Uncovered Spaces: 9
  • Open Other Spaces Total: 9
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Driveway, Asphalt
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 4
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,863
  • Unit Type Total Rent: $11,450
  • Unit Type Pro Forma: 12000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,850
  • Unit Type Total Rent: $2,850
  • Unit Type Pro Forma: 3100
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,550
  • Unit Type Total Rent: $5,100
  • Unit Type Pro Forma: 5200
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 7
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 7
  • Number With Range: 7
  • Number With Refrigerator: 7
  • Number With Disposal: 7
  • Number With Patio: 3
  • Number Wall AC: 7

Property History for 425 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 425 North Raymond Avenue

Taxable ValueLand$139,374Additions$279,026Total$418,400
Tax Record2024$6,279 ($523 / month)
Home Facts
Total Finished SqFt5,001 SqFtAbove Grade Finished SqFt5,001 SqFtLot Size9,902 SqFtStyleMulti-Family Res (5+ Units)Year Built1947ZoningPSR1CountyLOS ANGELESAPN5725-003-031

Schools near 425 North Raymond Avenue

This home is within Pasadena Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Roosevelt Elementary School
PublicK to 5

Octavia E. Butler Magnet School
Public6 to 8

John Muir High School
Public9 to 12

Rose City High (Continuation) School
Public9 to 12

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.

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425 North Raymond Avenue is a multi-family home for sale in Pasadena, CA 91103. This property was listed for sale on October 10, 2024 by Growth Investment Group Pasade, it's currently listed at $3,265,000. It has been on the market for a total of 53 days and was last sold on April 6, 2024. This listing's school district is Pasadena Unified School District. Nearby schools include Roosevelt Elementary School, Octavia E. Butler Magnet School and John Muir High School. 425 North Raymond Avenue is a 4-bed, 7-bath, 5,001 sqft multi-family home built in 1947.

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 Growth Investment Group Pasade, Han Chen, DRE #01749321

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.