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155 N Raymond Avenue

Pasadena, CA 91103

PRICE REDUCED

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-$1,000,000 (-7.81%)

$11,800,000

List Price

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2002

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Property Description

18-Unit apartment complex with 1 Commercial Space with approximately 2,900 sf of rentable space. Motivated SELLER!!! Note on property is ASSUMABLE WITH A RATE OF 3.75% UNTIL 10/2026 or SELLER IS WILLING TO FINANCE THE DEAL WITH VERY REASONABLE RATE AND TERMS (CONTACT AGENT FOR MORE INFORMATION), contact agent for terms. Located in the heart of Old Town Pasadena this complex is just a few steps away from local eateries and bars, and also shops. The property was built in 2002 and shows pride of ownership with a well-maintained building and units. All units are approximately 900 sf is size and are all 2 bedrooms and 2 bathrooms and come with their own laundry units. There are a total of 29 surface and subterranean parking with 2 handicapped spaces. Situated in the heart of Old Town Pasadena, with a lot of 9,028 square feet. The property is located just 11.3 miles from Downtown Los Angeles and within 2 miles of three top major colleges Art Center College of Design, California Institute of Technology, and Pasadena City College. The property is also located 0.3 miles from the Parsons Corporation and 0.5 miles to Pasadena City Hall and approximately 4.6 miles to JPL. Across the street are Pasadena Memorial Park and the Memorial Park Metro Gold Line Station making an easy commute for those working in Downtown Los Angeles. Offered at a 3.90% Pro-Forma CAP rate and 15.52 Pro-Forma GRM, there is upside potential with below-market rents. These units are easy to rent due to their prime location and well-kept units. The property has very stable and long-term tenants in place.

Listing Information

List Price $11,800,000
Status Active
MLS WS23214697
Type Commercial
Subtype Multi Family
Year Built 2002
Lot Size 9,028
Structure Size N/A
DOM 373
Courtesy Of REALIV
Listing Agent KEVIN KWAN DRE#01488390

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

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Listing information courtesy of: KEVIN KWAN, REALIV 626-272-2365. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 27th, 2024 at 11:27 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.