221 Raymond Ave - Apartments FOR SALE


Pasadena, CA 91103- Old Town Pasadena
$4,490,000 USD
714-423-3819
221 Raymond Ave, Pasadena, CA for Sale
$4,490,000 USD
Apartments - FOR SALE
1/37
null | 6.01% Cap Rate

221 Raymond Ave
Pasadena, CA 91103
Old Town Pasadena


HIGHLIGHTS

  • Recent $630,000 Price Reduction / Attractive offering actual CAP Rate of 5.01% With a ProForma CAP Rate of 6.01%
  • Interest Only Seller Financing Offered to Well Qualified Buyers / Current GRM of 15.33 With a ProForma GRM of 13.04
  • Protected from auto-reassessment after sale. Property taxes are currently set at just $22,325 per year with no reassessment after a sale.
  • Tax saving estimated at $30,000 annually. In essence adding the income of an additional one-bedroom unit, with zero expenses or management!
  • Meticulously maintained, well-preserved row house / (9) separate gas and electric meters / Water submetering in place not current billed back!
  • (3) 2-story, two-bedroom, two-&-one half bathroom units (2B2.5B) + bonus room in master bedroom making an ideal nursey, children's bedroom, or office.

OVERVIEW

Attractive Interest Only Seller Financing Offered to Well Qualified Buyers (50% down, 12 month interest only at 5.50%, due in 12 months). The Fannie Bonham Row House at 221 N Raymond Ave, Pasadena, CA - a beautiful property in a premium location that combines classic elegance with thoughtful modern enhancements. Over a comprehensive two-year renovation from 2015 to 2017, the building was fully transformed to elevate both its aesthetic appeal and practical functionality. The extensive renovation included a construction of front porches that greatly enhances the building’s curb appeal and usability. Modern systems were fully upgraded during the renovation, including new central AC,new Siemens electrical panels, roofing, plumbing and tankless water heaters, establishing a solid foundation for easy management and low maintenance. Situated in a tranquil street just minutes from the vibrant amenities of Old Town Pasadena, residents enjoy convenient access to shopping, dining, and cultural attractions. Secure offsite parking at the adjacent parking structure managed by Marriot. The Fannie Bonham Row House offers a unique blend of elegant architecture, modern comfort, and practical management—making it an exceptional investment opportunity in one of Pasadena’s most sought-after neighbor.

FOR SALE DETAILS

PRICE

$4,490,000 USD

PRICE/SF

$524 USD /SF

# OF UNITS

9

PRICE/UNIT

$498,889

CAP RATE

6.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Meticulously Maintained Pasadena Row-House

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2018

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

PSC-

APN/PARCEL ID

5723-001-019

ASK ABOUT THIS PROPERTY

Anthony LeLe Investment GroupMore Info
714-423-3819

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Anthony LeLe Investment GroupMore Info
714-423-3819

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.