221 Raymond Ave | Pasadena, CA 91103
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- LoopNet Team
221 Raymond Ave
Pasadena, CA 91103
Meticulously Maintained Pasadena Row-House · Multifamily Property For Sale
·
9 Units
Investment Highlights
- Recent $630,000 Price Reduction / Attractive offering actual CAP Rate of 5.01% With a ProForma CAP Rate of 6.01%
- Protected from auto-reassessment after sale. Property taxes are currently set at just $22,325 per year with no reassessment after a sale.
- Meticulously maintained, well-preserved row house / (9) separate gas and electric meters / Water submetering in place not current billed back!
- Interest Only Seller Financing Offered to Well Qualified Buyers / Current GRM of 15.33 With a ProForma GRM of 13.04
- Tax saving estimated at $30,000 annually. In essence adding the income of an additional one-bedroom unit, with zero expenses or management!
- (3) 2-story, two-bedroom, two-&-one half bathroom units (2B2.5B) + bonus room in master bedroom making an ideal nursey, children's bedroom, or office.
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 | 2018 |
| 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 | 2018 |
| Cross Streets | Walnut Ave |
| Zoning | PSC- - Multi-Family |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,544 | 714 |
| 2+2.5 | 3 | $3,550 | 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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