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820 N Raymond Ave
Pasadena, CA 91103

50-u Value-add near Rose Bowl, 2.8% Loan · Multifamily Property For Sale · 50 Units

Investment Highlights

  • 50-units True Value-add building nearby Rose Bowl Area and Old Town Pasadena (±1mile)
  • ±5.15% YEAR-1 CASH-ON-CASH Return with 10.05% PROFORMA CASH-ON-CASH (buyer to verify)
  • Excellent unit mix with more 60% are 2bedroom units; Large lot size of 51,227 SF/±1.18ACRE, City may allow additional ADUs.
  • Superb ASSUMABLE FINANCING (Chase) with 2.9% Interest Rates with 50.8% LTV fixed for 3 more years (October 2026) and Due in 28 years (2051)
  • ±36% Rental upside potential, First time for sale since 2007; 4 units CAN BE DELIVERED VACANT at Close of Escrow
  • Each unit is large with a private patio/balcony and excellent layout, individual water heater; Separately metered for electricity (all electric)

PROPERTY FACTS

No. Units 50
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 1.18 AC
Building Size 40,000 SF
Average Occupancy 98%
No. Stories 3
Year Built 1964
Parking Ratio 1.25/1,000 SF

Unit Amenities

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Disposal
  • Ceiling Fans
  • Kitchen
  • Granite Countertops
  • Range
  • Tub/Shower
  • Dining Room
  • Vinyl Flooring

Site Amenities

  • Laundry Facilities
  • Pool

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 20 - 600
2+1 30 - 900

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5725-011-023
Land Assessment
$7,574,282
Improvements Assessment
$5,396,673
Total Assessment
$12,970,954

zoning

Zoning Code RM32, Pasadena
RM32, Pasadena
  • Listing ID: 28923106

  • Date on Market: 2023-07-05

  • Last Updated:

  • Address: 820 N Raymond Ave, Pasadena, CA 91103

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