820 N Raymond Avenue, Pasadena, CA 91103 – CRAR25139098

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Sean Beattie Jr.

info@seanbeattiejr.com +1(415) 845-8732

Listed by Han Chen • Growth Investment Group Pasade

$14,900,000

Est. payment - /mo

36,228 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 36,228 sqft

Price per Sqft $411

MLS Listing ID CRAR25139098

HOA Y/N No

Year Built 1964

Lot Size 38.860 Acres

Property Sub-Type Other

Source Datashare California Regional

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 (Â±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 Â±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 Â±7.29% cash-on-cash return on year-1 and a whopping Â±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 Â±36,228 SF building size and situated on a large Â±51,227 SF / Â±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

Location

State CA

County Los Angeles

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Laminate, Vinyl, Wood

Fireplace No

Laundry Common Area, Other

Exterior

View Mountain(s), Other

Building

Lot Description Level, Other

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Sean Beattie Jr.

+1(415) 845-8732

Agent | CA DRE# 01944311

Agent CA DRE# 01944311

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820 N Raymond Avenue Pasadena, CA 91103

Sean Beattie Jr.

Key Details

Location

Interior

Exterior

Building

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