820 N Raymond Avenue, Pasadena, CA 91103 – AR25139098

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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$14,900,000

Est. payment - /mo

3 Beds

2 Baths

38.86 Acres Lot

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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

HOA Y/N No

Lot Size 38.860 Acres

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
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 electricity (ALL ELECTRIC building). Each unit has windows A/C, wall heating, ceiling fans, mirrored closets, and plenty of linen cabinets. 30 units have had some kind of upgrades which may include new kitchen (new cabinets + quartz/granite countertops), and/or new bathroom (new tiled bathroom/shower, new bathroom vanity, and hardware). Parking is provided by combinations of garage on the side, tuck-under parking in the back, and a detached carport in the back. There are 52 parking spaces with 8 garage spaces on the side, 30 tuck under parking in the back, and 14 spaces in a detached carport (buyer to verify). There are 2 laundry rooms with 5 laundry machines in each room (total 10 machines) and all the machines belong to the owner and come with the sale. The property is separately metered for electricity.

Location

State CA

County Los Angeles

Area Pasadena (91103)

Zoning Assessor

Interior

Cooling Wall/Window

Exterior

Parking Features Unit1:Assigned

Pool Community/Common

Building

Story 3

Level or Stories 3 Story

Others

Monthly Total Fees $908

Acceptable Financing Cash

Space Rent $1,886

Listing Terms Cash

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Listed by Han Chen • Growth Investment Group Pasade

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Patricia Beattie

+1(415) 286-8292

Broker | License ID: 01405369

Broker License ID: 01405369

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820 N Raymond Avenue Pasadena, CA 91103

Patricia Beattie

Key Details

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Exterior

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