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Listed by Handoko Chen • Growth Investment Group Pasade
$ 2,850,000
Est. payment /mo
New
425 N Raymond Pasadena, CA 91103
9,905 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR25253823
Year Built 1947
Lot Size 9,905 Sqft
Source California Regional MLS
Property Description
Prime 7-unit near Old Town Pasadena, Positive Leverage Deal at 6.06% CAP, Penthouse can be delivered vacant, Adjacent to a future Large Redevelopment Project on Fair Oaks Ave. Seller May Carry. 425 N Raymond Ave, a 7-unit Turnkey Value-add 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 Over 6% CAP Rate and low ±12.12x GRM (buyer to verify), this offering provides an excellent Cash-on-cash return on a full Turnkey building where the 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 resident
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Gas Hookup, 30, Washer, Dryer
Exterior
Parking Features Assigned Spaces, Other
Garage Spaces 9.0
Pool 31, None
View None
Roof Type Flat / Low Pitch
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 5725003031
Special Listing Condition Not Applicable
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