Log In/Sign Up
Your email has been sent.
155 N Raymond Ave
Pasadena, CA 91103
ParkView · Multifamily Property For Sale
·
19 Units
Investment Highlights
- Assumable Note @ 3.75% Until 10/26 or Seller Willing to Seller Finance
- Heart of Old Town Pasadena
- NEWLY SIGNED RETAIL LEASE 11/1/2024, 5 Years Plus (ONE) 5 Year Option, 3% Yearly Rental Increases
- Huge Upside in Rents as Current Rents are Well Below Market Rents
- Commercial Unit Front Facade is Historical Designated
Executive Summary
18-Unit apartment complex with 1 Commercial Space with approximately 2,900 sf of rentable space. Motivated SELLER!!! Note on property is ASSUMABLE WITH A RATE OF 3.75% UNTIL 10/2026 or SELLER IS WILLING TO FINANCE THE DEAL WITH VERY REASONABLE RATE AND TERMS (CONTACT AGENT FOR MORE INFORMATION), contact agent for terms. Located in the heart of Old Town Pasadena this complex is just a few steps away from local eateries and bars, and also shops. The property was built in 2002 and shows pride of ownership with a well-maintained building and units. All units are approximately 900 sf is size and are all 2 bedrooms and 2 bathrooms and come with their own laundry units. There are a total of 29 surface and subterranean parking with 2 handicapped spaces. Situated in the heart of Old Town Pasadena, with a lot of 9,028 square feet. The property is located just 11.3 miles from Downtown Los Angeles and within 2 miles of three top major colleges Art Center College of Design, California Institute of Technology, and Pasadena City College. The property is also located 0.3 miles from the Parsons Corporation and 0.5 miles to Pasadena City Hall and approximately 4.6 miles to JPL. Across the street are Pasadena Memorial Park and the Memorial Park Metro Gold Line Station making an easy commute for those working in Downtown Los Angeles. Offered at a 4.5% Pro-Forma CAP rate, there is upside potential with below-market rents. These units are easy to rent due to their prime location and well-kept units. The property has very stable and long-term tenants in place. NEWLY SIGNED RETAIL LEASE 11/1/2024, 5 Years Plus (ONE) 5 Year Option, 3% Yearly Rental Increases.
Property Facts
| Price Per Unit | $621,053 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 4.46% | Building Size | 21,982 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 19 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2002 |
| Property Subtype | Apartment | Parking Ratio | 1.32/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | PSC- - 1210 - Commercial Store Combination - Store & Residential | ||
| Price Per Unit | $621,053 |
| Sale Type | Investment |
| Cap Rate | 4.46% |
| Sale Condition | 1031 Exchange |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 21,982 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2002 |
| Parking Ratio | 1.32/1,000 SF |
| Zoning | PSC- - 1210 - Commercial Store Combination - Store & Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Washer/Dryer Hookup
Site Amenities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 18 | $2,232 | 900 - 950 |
Property Taxes
| Parcel Number | 5723-021-017 | Improvements Assessment | $2,700,002 |
| Land Assessment | $287,100 | Total Assessment | $2,987,102 |
Property Taxes
Parcel Number
5723-021-017
Land Assessment
$287,100
Improvements Assessment
$2,700,002
Total Assessment
$2,987,102
1 of 57
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
