This Multifamily Property is no longer advertised on LoopNet.com.
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
UNIT MIX INFORMATION
DESCRIPTION
NO. UNITS
AVG. RENT/MO
SF
1+1
20
-
600
2+1
30
-
900
PROPERTY TAXES
Parcel Number
5725-011-023
Improvements Assessment
$3,743,530
Land Assessment
$5,254,080
Total Assessment
$8,997,610
ZONING
Zoning Code
RM32, Pasadena