820 N Raymond AVE Active Save Request In-Person Tour Request Virtual Tour
Pasadena,CA 91103
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR25139098
Year Built 1964
Lot Size 38.860 Acres
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 are
Location
State CA
County Los Angeles
Area 645 - Pasadena (Nw)
Rooms
Kitchen Oven Range - Gas
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry Laundry Area,Washer/Dryer - Owned,Community Facility
Exterior
Parking Features Assigned Spaces,Carport ,Common Parking - Shared,Covered Parking,Private / Exclusive,Gate / Door Opener,Other
Garage Spaces 52.0
Pool 31,Community Facility
View Hills,Local/Neighborhood
Roof Type Flat / Low Pitch
Building
Lot Description Grade - Level
Story Three or More Stories
Water District - Public
Others
Special Listing Condition Not Applicable