Active

155 N Raymond Avenue

Pasadena CA, 91103

$11,800,000


$536.80 per sqft

Active

21,982 sqft

Commercial

Built in 2002

Listed by KEVIN KWAN with Realiv 626-285-2121

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.

WS23214697

MLS ID

November 20, 2023

Listed

May 25, 2024

Updated

Map

155 N Raymond Avenue
Pasadena CA, 91103

Interior Features

Total Stories

4


Laundry Description

Inside


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.21 Acres


Lot Features

Near Park, Walkstreet

Other Property Details

Area Name

647 - Pasadena (SW)


Taxes

$147,200


Tax Frequency

Annually


Days on Market

131


Garage

No


View

No


County

Los Angeles


Water Source

Private


Pool

No


Buyer Agency Compensation

1.75%

Listing History

Date

Event

Price

3/27/2024

Price Change

$11,800,000

-8%

Listing Contact: 626-285-2121 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:25 AM UTC

 

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