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Pinnacle Realty Advisors

support@pinnaclera.com +1(972) 338-5441

Listed by Han Chen • Growth Investment Group Pasade

$ 14,900,000

Est. payment -/mo

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820 N Raymond AVE Pasadena, CA 91103

38.86 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRAR25139098

Year Built 1964

Lot Size 38.860 Acres

Source California Regional MLS

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

Tax ID 5725011023

Special Listing Condition Not Applicable