820 N Raymond Avenue, Pasadena, CA 91103 - MLS#AR25139098

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Arash Rokni

arash@roknigroup.com +1(619) 762-0777

$14,900,000

Est. payment - /mo

3 Beds

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25139098

Bedrooms 3

Property Sub-Type Res Income 2-4 Units

Property Description

THE RAYMOND VILLA, a 50-unit value-add garden style apartment investment opportunity located in the highly desirable City of Pasadena, CA. The property is within walking distance (1mile) to Rose Bowl Area and Old Town Pasadena, and situated on a quiet tree-lined street on Raymond Ave and Painter St. This investment offers an ASSUMABLE LOAN with 57% Loan-To-Value (LTV) at very low 2.9% interest rates fixed until October 2026 and due in 28 years (October 2051). Just by assuming the current loan and operating the building as-is, the new owner could realize a stable 7.29% cash-on-cash return on year-1 and a whopping 13.35% return stabilized at proforma/market rent (Buyer to Verify). The property has brand new roofs (3 out of 4 buildings), upgraded electrical panel (each unit has 100amps breaker), and the parking soft story retrofit were recently completed. The Raymond Villa is an attractive two-story garden style community that was built in 1964 with 36,228 SF building size and situated on a large 51,227 SF / 1.18-acre lot size. It has excellent curb appeal with mature trees in the front and a secure entrance and gated parking. Walking into the courtyard area, tenants will enjoy a fenced swimming pool, and multiple large and manicured garden planters and courtyard area that can be re-utilized as barbeque area, dog walking area, kids play area and other amenities. It offers an excellent unit mix of 30 x 2 bedrooms+1bathroom, and 20 x 1bedroom+1bathroom units. Each unit is large and bright with an excellent layout and a private patio/balcony. Each unit is separately metered for e

Location

State CA

County Los Angeles

Zoning Assessor

Direction 1 block north of Orange Grove Blvd, 1 block east of Fair Oaks Ave

Interior

Cooling Wall/Window

Fireplace No

Exterior

Pool Community/Common

View Y/N No

Building

Story 3

Level or Stories 3

Others

Senior Community No

Tax ID 5725011023

Acceptable Financing Cash

Listing Terms Cash

Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10490

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Listed by Han Chen Growth Investment Group Pasade

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Arash Rokni

REALTOR® | CADRE# 02005305

+1(619) 762-0777 | arash@roknigroup.com

San Diego Communities

820 N Raymond Avenue Pasadena, CA 91103

Arash Rokni

Key Details

Location

Interior

Exterior

Building

Others

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