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155 N Raymond Avenue

Pasadena, CA 91103
  • $11,800,000
  • STATUS: Active
  • ON SITE: 318 Days
  • ID#: WS23214697
UPDATED: 53 min ago
$11,800,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2002
County:

School Ratings & Info

Listing Agent(s): Kevin Kwan of REALIV (626-618-8286)


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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-10-04T00:36:32.3. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Judy Barsamian Armstrong | Keller Williams Realty Central Coast. Licensed in the State of California, USA.
www.judyb-armstrong.homes/homes/145404990
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155 N Raymond Avenue Pasadena, CA 91103

  • Price: $11,800,000
  • Status: Active
  • On Site: 318 Days
  • Updated: 53 min ago
  • ID#: WS23214697
0
Beds
0
Baths
0
½ Baths
0.21
Acres
2002
Built
Neighborhood:
647 - Pasadena (SW)
County:
Los Angeles
Area:
647 - Pasadena (SW)
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.
Exterior Features

Entry Level 1 Lot Features Near ParkWalkstreet

Property Features

Additional Parcels YN No Common Interest Community Apartment Community Features Park Electric Expense 10604.81 Gross Scheduled Income 611876.76 Insurance Expense 18192.85 Land Lease YN No Laundry Features Inside Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 304956.25 Number Of Units Leased 19 Operating Expense 288691.36 Other Expense 66066.59 Property Sub Type Multi Family Special Listing Conditions Standard Tax Annual Amount 147200 Trash Expense 3765.32 Vacancy Allowance Rate 3 Water Sewer Expense 8587.37 Water Source Private



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-10-04T00:36:32.3. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Judy Barsamian Armstrong | Keller Williams Realty Central Coast. Licensed in the State of California, USA.
 
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Judy Barsamian Armstrong | Keller Williams Realty Central Coast
350 James Way
Pismo Beach CA, 93449
Listing Agent(s): Kevin Kwan of REALIV (626-618-8286)