221 Raymond Ave | Pasadena, CA 91103
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- LoopNet Team
221 Raymond Ave
Pasadena, CA 91103
Multifamily Property For Sale
·
9 Units
Investment Highlights
- Seller Carry 5.50% Interest Only to Qualified Buyers / Protected from auto-reassessment after sale by the Mills Act. Property tax set at $22,325/YR.
- Attractive in-place offering actual CAP Rate of 4.69% With a ProForma CAP Rate of 5.63%
- Tenants have access to offsite parking at the Marriott, with several additional local options available for more affordable solutions
- Estimated saving under the Mills Act are $30,000 annually. In essence adding the income of an additional one-bedroom unit, with no expenses.
- Three (3) two-story, two-bedroom, two-and-one half bathroom units (2B2.5B) + bonus room in master bedroom.
- Individually metered for all utilities. Water submetering is in place. Currently master-metered for water, 9 individual water meters in place.
Property Facts
| No. Units | 9 | Building Size | 8,568 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Townhome | Year Built/Renovated | 1898/2017 |
| Building Class | C | Cross Streets | Walnut Ave |
| Lot Size | 0.17 AC | ||
| Zoning | PSC- - Multi-Family | ||
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,568 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1898/2017 |
| Cross Streets | Walnut Ave |
| Zoning | PSC- - Multi-Family |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,795 | 714 |
| 2+2.5 | 3 | $3,975 | 1,428 |
Property Taxes
| Parcel Number | 5723-001-019 | Improvements Assessment | $544,000 |
| Land Assessment | $1,267,000 | Total Assessment | $1,811,000 |
Property Taxes
Parcel Number
5723-001-019
Land Assessment
$1,267,000
Improvements Assessment
$544,000
Total Assessment
$1,811,000
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