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Listed by ALBERT LE • LE INVESTMENT GROUP
$ 4,800,000
Est. payment /mo
Active
221 N Raymond AVE Pasadena, CA 91103
7,408 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRIV25123951
Year Built 1898
Lot Size 7,408 Sqft
Source California Regional MLS
Property 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 4.69% With a ProForma CAP Rate of 5.63% / 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 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 offi
Location
State CA
County Los Angeles
Area 647 - Pasadena (Sw)
Interior
Laundry Other
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 5723001019
Special Listing Condition Not Applicable
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