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$2,850,000
Est. payment /mo
4 Beds
9,905 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25253823
Bedrooms 4
Lot Size 9,905 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Prime 7-unit near Old Town Pasadena, Positive Leverage Deal Close to 6% CAP, 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 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
Location
State CA
County Los Angeles
Zoning Assessor
Direction one block east of Fair Oaks Ave, a block south of Villa St
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5725003031
Acceptable Financing Cash, Seller May Carry
Listing Terms Cash, Seller May Carry
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Listed by Handoko Chen Growth Investment Group Pasade
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